Program Description

This training is designed to help participants understand how money laundering is perpetrated and how governments and anti-money laundering (AML) laws operate to counteract this crime. It also highlights the roles and responsibilities of the AMLC and covered persons in facing the threat of money laundering. Professional accountants, compliance officers, and other individuals involved in covered institutions such as banks, stock brokerages, casinos, and pawnshops will greatly benefit from this course.

Learning Outcomes for this Course:

  • Lesson 1

    Gain a firm grasp of the money laundering process, anti-money laundering laws and the role of the AMLC, together with its operational units in countering money laundering.

  • Lesson 2

    Understand and appreciate the role and powers of the AMLC, particularly the laws on bank inquiry, freeze orders and asset forfeiture.

  • Lesson 3

    Understand and appreciate the laws governing covered transactions, suspicious transactions, and terrorism financing, as well as be able to apply and ensure compliance with KYC and Customer Due Diligence rules.

  • Lesson 4

    Gain a firm grasp on the various Customer Due Diligence Measures, as well as vital areas of a Money Laundering and Terrorism Prevention Program, such as customer risk profiling, assessment, and recordkeeping.

  • Lesson 5

    Gain a background on casino operations and junkets, as well as identify and understand the alerts and red flag indicators of suspicious transactions in casinos.cas

  • Lesson 6

    Identify and understand the various money laundering schemes used in casinos, such as hedging, use of false identities, infiltration of junkets and proxy betting.

  • Lesson 7

    (1) Gain an understanding of how non-profit organizations (NPOs) are abused for purposes of money laundering, (2) Identify potential suspicious activities which may indicate money laundering or terrorist financing using NPOs, and (3) Understand the ways by which NPOs can protect themselves from criminal abuse.

  • Lesson 8

    Gain an understanding of the future of money laundering with the use of cryptocurrencies, virtual applications and other similar innovations in technology and finance.