Description
Understanding and Preventing Money Laundering
Money laundering is a global criminal issue that poses significant risks to businesses, economies, and society as a whole. This course offers an in-depth look at money laundering, from its definition to its connection with various financial crimes, including tax evasion, fraud, bribery, and even terrorism financing.
You’ll learn about the “regulated sector” as defined by the Proceeds of Crime Act, and gain insight into the types of money-laundering offences that can occur within it. The course will teach you how to identify key warning signs—also known as “red flags”—that may indicate illegal activity, and how these practices are connected to certain financial institutions.
Additionally, we’ll cover the essential tools and strategies businesses use to fight money laundering, including compliance programs, due diligence, record-keeping, and internal controls. You’ll also learn about the employee responsibilities in spotting suspicious activity and reporting concerns in accordance with company policies.
Learning Objectives
By the end of this course, you will be able to:
- Identify the key legislation related to money laundering and its connection to other crimes.
- Define money laundering, understand how it occurs, and recognize its negative effects on businesses and the economy.
- Understand due diligence practices and the regulations that govern them, as well as the regulators involved.
- Evaluate internal controls that help prevent and monitor money laundering activities.
- Recognise your responsibilities in identifying suspicious activity and reporting concerns in line with company policies.
Target Audience
This course is suitable for anyone working in an organization that handles significant amounts of money, especially in sectors regulated for financial crime prevention. It is also ideal for those who are working or planning to work in the regulated sector.
Advantages
Providing staff with training on money laundering is a vital part of demonstrating your company’s commitment to identifying and preventing financial crime. The flexible, self-paced online format allows employees to complete the course at their convenience, making it easy to fit around their work and personal schedules.
Duration: 50 minutes (Note: This is based on the amount of video content shown and is rounded off.
It does not account in any way for loading time or thinking time on the questions).