How to Identify Money Laundering

This training workshop explains how money laundering can be discovered. It will go over important internal controls to establish customer identity and the type of transactions the customer most likely will engage in. It will also look at ways to guard against financial crime and to help protect the institution’s reputation.

•  Customer Due Diligence (CDD)
  
•  Three stages of money laundering
  
•  The role of off-shore financial centres

AML awareness is universal and is relevant for every person, corporate, and government department. This is especially so if you work in any of the following functions:

•  Accounts payable
  
•  Accounts receivable
  
•  Contracting
  
•  Compliance
  
•  Risk management
  
•  Managers with responsibilities for internal AML controls.
  
•  Internal and External Audit Staff.
  
•  Lawyers and Support Staff.
  
•  Company secretaries

Upon completion of this training workshop, you will be able:

• To summarize the common stages of money laundering.
  
• To compare strengths and weaknesses of the different elements of a CDD programme.
  
• To explain the role of off-shore financial centres.