AML Basics for Non-Compliance Professionals

In this lecture, you'll explore the foundation of the U.S. Anti-Money Laundering (AML) framework. We'll cover key regulations such as the Bank Secrecy Act (BSA) and the USA PATRIOT Act, explaining their purpose, scope, and how they shape AML practices today. You’ll also learn about the critical role that financial institutions play in implementing these laws and preventing money laundering through internal controls, customer due diligence, and transaction monitoring.

The session introduces the Risk-Based Approach (RBA)—a cornerstone of modern AML compliance—emphasizing how institutions assess and manage money laundering risks based on customer profiles, products, and geographies. By the end of this lecture, you'll understand how the U.S. regulatory environment works and how non-compliance professionals contribute to its effective enforcement.

In this lecture, you’ll explore the essential components of a strong AML compliance program, including the role of internal controls and clearly defined AML policies. We’ll break down the core elements of Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD), helping you understand how financial institutions assess customer risk. By the end of this session, you’ll see how these tools work together to prevent financial crime and ensure regulatory compliance.

In this lecture, you will learn how AML principles are applied in real-world work settings. We'll explore how transaction monitoring helps detect unusual activity, what common AML red flags look like, and how to report suspicious behavior through proper channels. You'll also understand the importance of accurate record keeping, ongoing training, and how to stay AML-aware in your daily job—even if you're not in a compliance role. This session ties together the practical responsibilities that every employee should know to support a strong AML culture.

This lecture highlights the serious consequences organizations face when they fail to comply with AML regulations, including legal penalties, financial losses, and reputational damage. You’ll also learn how technology is transforming AML efforts, helping institutions detect suspicious activity more effectively and stay ahead of evolving threats.