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Money & Transaction Laundering in Payments (Advanced)

Risk is good. And sometimes the biggest risk can be not taking on enough risk. There are upside as well as downside risks to every business decision. Nowhere is this clearer than when deciding which merchants to sign.

Some merchants are inherently more risky than others. It depends on the products or services they sell, countries in which they operate, and their delivery channels and customers. However, what separates good from poor acquirers is the ability to identify, manage and monitor risk.

This course examines sectors that pose higher money laundering risks for acquirers. These include money service businesses, cryptocurrency exchanges and gambling operators. It also provides a deep-dive on transaction laundering, which is when merchants process transactions from businesses unknown to their acquirer.

Packed full of real-life case studies and practical, worked examples, ‘Money & Transaction Laundering in Payments’ is designed for risk management and compliance staff making go/no-go decisions about whether to on-board merchants and how to manage the upside and downside risks they bring. It is an advanced course and builds on the knowledge gained from Web Shield's 'Fundamentals of Anti-Money Laundering' course.

Learning Objectives:

  • Recognize how criminals exploit various industry sectors, such as money service businesses, cryptocurrencies, gambling, professional services, to launder money
  • Understand how different forms of transaction laundering occur within the card payment space Gain a high-level insight in how to develop an AML compliance framework for your business
1

Chapter 1 - Sector-Specific Money Laundering Concerns

27 Lessons 74 minutes
  • How and why certain sectors pose higher money laundering and terrorist financing risks. Sectors covered include money service businesses, gambling operators and professional services firms.
2

Chapter 2 - Transaction Laundering

14 Lessons 32 minutes
  • How to spot potential transaction laundering particular to the card payment world. Plus, how to recognize different forms of aggregation (compliant and non-compliant) and how it impacts risk exposure.

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