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Anti-money laundering (AML) has been a hot topic for financial institutions for decades. Proceeds from these criminal activities represent an estimated 2% to 5% of global GDP. In the U.S. that’s equivalent to $800B - $2T a year, according to the U.S. Office on Drugs and Crime. Money laundering disguises the sources and destinations of these funds and fuels negative downstream effects. This includes compromised financial systems and the means to keep terrorists and crime rings in business.

Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Anti-money laundering laws cover a limited range of transactions and criminal behavior, but their implications are far-reaching.

The Laws and regulations surrounding AML are numerous and have progressed throughout the years. This course is aimed at understanding the stages of money-laundering, the primary methods used, the laws in place to help prevent and mitigate money laundering and identifying professions that may be most involved in money laundering. Future sessions will focus on processes for mitigating and monitoring for money-laundering.

We will use the “progression of AML chart” presented towards the end of this presentation as a framework to discuss our topic in future courses.

Learning Objectives

  • Explore and define anti-money Laundering and examine how it works.
  • Explore the history of AML.
  • Identify the stages of AML.
  • Recognize and examine the methods used for money laundering.
  • Discover and introduce the progression of AML.
Last updated/reviewed: November 5, 2020

2 Reviews (6 ratings)Reviews

5
Member's Profile
Quite interesting and informative course. Some more examples would make it even more engaging.
5
Member's Profile
I was surprised by the amount of detail; I had never studied money laundering before.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  7:35Introduction to Anti-Money Laundering Understanding the Risk
  6:54Define Anti- Money Laundering
  14:08History of AML
  8:26History of AML Cont'd
  2:21Reporting
Stages of Anti-Money Laundering
  9:04Stages of AML-Placement Stage
  6:45Layering Stage
  2:35Integration Stage
METHODS AND EXAMPLES
  10:18Methods
  5:14Classification of Offenses
  9:09Examples
  11:46What Methods are Most Popular
  0:40Summary
CONTINUOUS PLAY
  1:34:20Anti-Money Laundering - Understanding the Process
SUPPORTING MATERIAL
  PDFSlides: Anti-Money Laundering - Understanding the Process
  PDFAnti-Money Laundering - Understanding the Process Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM