Name: The Ultimate Guide to Money Laundering and AML Compliance
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Created byFinancial Crime Academy

Last updated 2/2024

English

What you'll learn

Explain the term money laundering, it's origin and how money laundering works
Exemplify various common and uncommon methods of money laundering cross-industry
Identify different types of companies used for money laundering purposes
Discuss the negative consequences of money laundering at large
Understand the differences between money laundering and terrorist financing
Explain why and how AML regulation became a priority on the global political agenda
Identify relevant international standard-setters in the field of anti-money laundering
Demonstrate an understanding of AML regulation in the EU and US
Understand and specify the risks and treats money laundering poses on organizations
Build and effective AML Compliance Program to better protect their organizations
Understand additional relevant terms and concepts that are commonly used in practice in AML

Course content

9 sections • 55 lectures • 4h 34m total length

Welcome0:15
Introduction to this course7:35
Invitation #1 - Explore the Financial Crime Academy Training Platform0:17
Invitation #2 - Join our exclusive LinkedIn Group0:13
Download the Course Slides0:06
Bonus: Download the course workbook0:04
About You: What is your motivation for taking this course and what do you expect

What you will learn in this Section2:01
Money Laundering using Financial Businesses7:25
Money Laundering using Non-Financial Businesses5:37
Case Study: 1Malaysia Development Berhad (1MDB)0:06
Trade-based Money Laundering3:47
Case Study: Trade-based Money Laundering3:48
Black Market Peso Exchange3:26
Explore the black-market peso exchange, a trade-based money laundering scheme where narcotics traffickers launder dollars into pesos without moving cash across borders via brokers and legitimate goods.
Unconventional Money Laundering Methods4:15
Section Summary1:30
Explore common and unconventional money laundering methods across financial and non-financial sectors, including trade-based schemes, the black-market peso exchange, and cryptocurrencies, focusing on banks and wire transfers.
Test your Knowledge

What you will learn in this Section3:21
Explore offshore corporations and shell, shelf, and front companies in money laundering, while noting legitimate uses of offshore services and the Panama Papers context.
Shell, Shelf, and Front Companies9:12
Misuse of Corporate Vehicles7:17
A Word on the term Offshore8:32
Explore the offshore concept as a foreign-based company or bank account, its role in offshore financial centers and tax havens, and how secrecy drives money laundering risk.
Section Summary3:08
Test your Knowledge

What you will learn in this Section2:51
What is Terrorist Financing?4:10
The 4 Stages of Terrorist Financing3:58
Trace the four stages of terrorist financing, collecting, storing, moving, and using funds, originating from donations, charities, criminal activity, or legal business operations, and stored in banks, cash, or assets.
Practical Examples of Terrorist Financing4:36
Similarities and Differences between Terrorist Financing and Money Laundering5:23
Section Summary4:43

What you will learn in this Section4:41
Emergence of International AML Regulation3:33
The emergence of international AML regulation traces how drug cartels moved funds through U.S. banks, prompting the 1986 Money Laundering Control Act and 1988 UN treaty, then FATF in 1989.
Relevant Organizations and Standard-setting Bodies11:19
The most important AML Regulation in the US6:29
Trace the evolution of U.S. AML regulation from the Bank Secrecy Act to the Patriot Act, detailing BSA reporting, KYC, and customer due diligence.
The most important AML Regulation in the EU7:20
Section Summary4:01

What you will learn in this Section8:13
Why Money Laundering is a Risk for Organisations and AML Compliance important10:47
How to build an effective AML program3:09
Step 1: Creating the right Organizational Environment3:43
Create the right organizational environment by embedding AML culture through clear tone at the top, documented risk strategy, and active management support, ensuring behavior aligns with the risk appetite.
Step 2: Conducting an AML Risk Assessment11:46
Step 3: Implementing Organizational Measures10:33
Implement organizational measures by applying the AML risk assessment to establish four pillars: internal policies, procedures, and controls; a designated compliance function; an independent audit; and ongoing training.
Section Summary5:06

What you will learn in this Section4:46
Explore how customer due diligence, including KYC, PEP considerations, risk-based CDD, and ongoing AML screening and monitoring, helps identify red flags and generate suspicious activity reports.
Conducting Customer Due Diligence and KYC10:50
Implement customer due diligence and KYC as core AML controls by identifying and verifying customers and beneficial owners, assessing risk, applying simplified, normal, or enhanced due diligence, and monitoring.
Dealing with Politically Exposed Persons11:05
Performing AML Screenings and Transaction Monitoring9:22
Learn aml screening and monitoring as part of ongoing due diligence, using alerts to assess sanctions or watchlists, peps, adverse media, and unusual transaction patterns for suspicious activity.
Identyfying Red Flags and atypical Customer Behaviour6:27
Identify red flags and atypical customer behavior across the life cycle, from frequent adviser changes to unusual identity checks and questionable funds, with monitoring of large transactions.
Filing a Suspicious Activity Report8:44
Section Summary4:47

Requirements

An electronic device with online video-viewing or downloading capabilities
To be interested in money laundering, AML, and Compliance
Will not need business or legal expert knowledge, but a basic understanding is helpful
Will not need working experience or previous knowledge in Compliance or AML

Description

Did you ever wonder how drug dealers can purchase sports cars? Or how illegally embezzled money can end up financing Hollywood movies More importantly, what do our politicians and lawmakers do to prevent money laundering?

And how can organizations prevent being systematically misused for money laundering? What can organizations do to do to build an effective AML Compliance program? How can they make sure that they comply with regulatory and legal requirements?

This course is your Ultimate Guide to Money Laundering and AML Compliance!

In this course you will learn all the basics and fundamentals about Anti Money Laundering and AML Compliance. Your learning journey will cover a number of important Money Laundering and Anti Money Laundering concepts, which are organized in the following sections:

Introduction to this Course
Understanding Money Laundering
Money Laundering in Practice
Hide and seek: Shell Companies, Offshore, and More
Understanding Terrorist Financing
Fighting Money Laundering with AML Regulation
Protect your Organization against Money Laundering Risks and Damages
Money Laundering Prevention Measures for your Organization
Finishing this Course

Certificate of Completion

Completing this course shows your dedication to fight money laundering and protect your organization. Why not show that you have acquired specialized knowledge in the field of AML? This courses comes with a Certificate of Completion that you can use to show your newly acquired skills and improved professional value through a better understanding of AML compliance. Start the course and earn your AML certificate today!

Additional Value

Throughout this course you can test your newly acquired knowledge with quiz questions. You will also find a great deal of additional resources as part of this course, including cheat sheets, checklists, questionnaires, tables, and more!

Comprehensive AML Workbook included! Get the entire course workbook with plenty of thorough content structured in 9 chapters as part of this Udemy course, including:

Plenty of thorough content structured in 9 chapters
Several quizzes with a number of quiz questions to self-verify your knowledge
Numerous practice-oriented checklists and templates
Real money laundering case examples and lessons learned.
Awesome charts and designs that structure the AML concepts

Awesome Bonus Material

We have also included some awesome bonus material. In particular, you will get the following:

3 Quizzes with numerous Quiz Questions
7 Section Summary Cheat Sheets
Shell Companies Red Flags Checklist
Offshore Jurisdictions Checklist
Terrorist Financing Checklist
AML Compliance Program Checklist
Course Slides as download material

Who this course is for:

Professionals wanting to acquire and demonstrate specialized knowledge in AML and Compliance
Professionals wanting to increase their value through better understanding of AML and Compliance
Career starters and students wanting to build a comprehensive AML and Compliance knowledge
Anyone who is genuinly intersted in money laundering, AML, and Compliance

What you'll learn

Explore related topics

Course content

Introduction to this course6 lectures • 9min

Understanding Money Laundering6 lectures • 26min

Money Laundering in Practice9 lectures • 32min

Hide and Seek: Shell Companies, Offshore, and More5 lectures • 32min

Understanding Terrorist Financing6 lectures • 26min

Fighting Money Laundering with AML Regulation6 lectures • 37min

Protecting Organization against Money Laundering Risks and Damages7 lectures • 53min

Money Laundering Prevention Measures for Organizations7 lectures • 56min

Completing the Course3 lectures • 3min

Requirements

Description

Who this course is for: