Course Outline

Seat Time: 1.25hrs 

This course will familiarize the learner with the crime of money laundering relative to his/her position. This course will also provide a comprehensive overview of red flags and suspicious activity so that s/he may be able to recognize and report indicators. After completing this program, the learner will understand how to:

• Recognize the red flags of money laundering.
• Conduct Customer Due Diligence (CDD) practices and prevent money laundering at the organization.
• Recognize the roles that agencies such as OFAC play with regard to creating effective AML guidelines for the organization.

Course Topics

T1. Money Laundering: This topic will provide the learner with an introduction to the crime of money laundering, an act or attempt to disguise the source of money or assets derived from criminal activity, by providing the goals of money launderers and the steps of money laundering.

T2. Red Flags of Money Laundering: This topic will teach the learner about the warning signs that money laundering is occurring, such as avoiding reporting or recordkeeping or suspicious branch activities, so that the learner will be able to recognize red flags of money laundering.

T3. Customer Due Diligence (CDD): This topic will define customer due diligence procedures and will familiarize the learner with components of CDD and transaction monitoring programs.

T4. Office of Foreign Assets Control (OFAC): This topic will discuss the purpose and use of the Office of Foreign Assets Control of the U.S. Department of the Treasury, and will explain compliance, restrictions, and certain types of transactions.

T5. Operations: Your Role in AML: This topic will familiarize the learner with his/her role as a member of the operations staff at the institution in regard to ensuring compliance with AML requirements.