Anti-Money Laundering Fundamentals (Regulated Business)

Overview

Regulated businesses can serve as vital link in the money laundering chain, whether wittingly or unwittingly. With the correct training and risk awareness, all businesses can break the chain and cut off the link that criminals and terrorists need to fund their enterprises. Every suspicious transaction reported or red flag spotted helps break the chain, bring criminals to justice and prevent innocent victims from being hurt by crimes such as human trafficking, drugs, violence, and terror. This course provides an overview of money laundering, explains how regulated businesses could inadvertently be used in the money laundering chain, and who to contact in the event of any suspicions.

Objectives

In this course you will:

• Gain an understanding of how money laundering works in practice
• Understand how money laundering can negatively impact regulated businesses
• Know the laws and offences related to money laundering and terrorist financing, including penalties for breaking the law
• Understand the definition of suspicion and how to identify suspicious transactions
• Be aware of red flags relevant to regulated businesses and know how to spot them