Money laundering and underlying serious crimes happen in almost every country in the world and the costs involved are huge.
A single scheme can involve transferring money through several countries in order to obscure its origins. Money laundering, at its simplest, is the act of making money that comes from 'source A' look like it comes from 'source B'. In practice, criminals are trying to disguise the origins of money obtained through illegal activities so it looks like it was obtained from legal sources and the methods used by money launderers are many and varied.
This course will introduce you to the concept of money laundering and how it works. You will learn about money laundering schemes and understand the principles and the methods used. It will also show you how to comply with regulations, what is required from you and how to report laundering.
This course enables you to:
- understand what money laundering is
- be aware of international controls
- know what customer due diligence is required
- create effective anti-money laundering policies
- know when to report laundering activities