Anti-Money Laundering Warning Signs and Mitigation Techniques

Overview

Could you imagine a drug dealer using a credit-card terminal to accept payment? How about someone paying for a television they bought off the back of a truck with a personal check? Hard to imagine, right? Most criminals conduct their business in cash.

For years, criminals kept their ill-gotten gains in cash and used it to pay for everything from real estate to jewelry to things such as private school tuition. This prompted governments around the globe to pass laws prohibiting large cash payments or, at the least, requiring such payments to be reported.

These laws created the need for criminals to conceal the true source of the money or to "launder" it. To combat these threats, laws, and regulations have been enacted in countries around the globe that make financial services firms, and in some cases individuals, responsible for preventing or stopping money laundering. Within this course, we explore AML warning signs and potential mitigation techniques companies and professionals can take to help eliminate money laundering.

Prerequisites

None

Objectives

• Explore and examine the general warning signs of Anti-Money Laundering (AML)
• Explore and examine warning signs of AML related to the legal process.
• Identify AML pro-active prevention techniques.
• Identify AML mitigation processes.
• Discover and examine features to look for in an AML automated monitoring system.
• Recognize ten things to look for in an AML Watchlist Provider.

Highlights

• Warning signs of money laundering
• Legal services
• Prevention
• AML mitigation methods
• Features to look for in AML solutions
• Ten things in AML watchlist provider