Live Virtual Online May 04, 2023 10am – 06pm
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Seminar Description
Attendees engage in a money laundering “ride along” with AML law enforcement insider, Kevin Sullivan, CAMS, taking them through the money laundering cycle with emphasis on key areas of a quality AML program. We’ll help attendees reduce the risk of illicit funds infiltrating their company by giving them the ability to identify common methods bad guys use to bypass the various lines of defense provided by AML programs. We’ll cover the laws and regulations stipulated by the BSA, US Patriot Act, FATF, and Sanctions. We’ll identify best practice policies and procedures of those laws and regulations including KYC, CDD, and Transaction Monitoring. We’ll also review areas of vulnerability and the principles of risk management. We’ll provide tips on writing a SAR narrative and guide attendees along the path of a SAR from the moment an alert has been triggered full circle through to how Law Enforcement utilizes SAR reports. By covering the how and why information is shared with law enforcement and what law enforcement does with that information, attendees gain more understanding of how and why their AML efforts help to identify, investigate, and circumvent financial crime and terrorism as well as protect their institution from risk and the potential of a damaged reputation. Attendees receive AML training Certificates of Completion.
Objective
The Anti-Money Laundering (AML) Training Academy courses provide specialized AML training to all industries, agencies, and governments who are the front line gatekeepers of our global economy. Our courses deliver the annual training requirements of the Bank Secrecy Act through targeted training from a 30 year AML veteran covering AML regulations and best practice policies and procedures.
Who Should Attend:
Institutions or individuals wanting to enhance the performance of their AML programs
Institutions or individuals seeking to improve their AML knowledge and the application of AML policies and procedures
AML professionals requiring mandated training
Individuals wanting to transition into an AML profession
Individuals seeking certification credits.
Delivery Method: Group Live Online
Prerequisites: None
Advanced Preparation: None
Prohibition and the Early Days
- Origin of money laundering
- The fundamentals of money laundering
- Predicate crimes and organized criminal activity
- Why money laundering matters
- Dilemma of cash
- Profiling various classic money laundering methods
- Structuring
- Bulk Cash Smuggling
- Money Service Businesses
- Wire Transfers
- Cash Intensive Businesses
- Casinos
Common Red Flags of Money Laundering
Breakout Workshop “You Are the Money Launderer”
- Objective:
- Develop participants understanding of money laundering processes through the eyes of a bad guy
- Strengthen participants understanding of how AML policies and procedures combat money laundering once they recognize how criminals abuse the system
- Increase participants ability to identify money laundering and reduce risk within their institutions.
- Real World Application: Review how financial institutions are able to detect red flags and/or develop rules to assist in the risk assessment process.
Lunch
The Laws & Guidance
- The Bank Secrecy Act (BSA)
- Currency Transaction Reports (CTRs)
- Suspicious Activity Reports (SARs)
- The US Patriot Act
- International Efforts
- Financial Action Task Force (FATF)
- Sanctions
Anti-Money Laundering Programs
Keeping the disease of dirty money out of your institution. Understand why and how a quality AML program should operate. For law enforcement, knowing basic bank procedures to help put the pieces of the puzzle together, track the suspect’s movements, and follow the money.
- Developing an AML Program
- The Five Pillars of a Quality AML program
- Know Your Customer (KYC) and Customer Identification Program (CIP)
- Customer Due Diligence (CDD)
- Deficiencies
- Recognizing Unusual Behavior
- Case Studies
- Objective:
- Engage your AML analytical skill set. Strengthen your ability to recognize the 3 W’s, “What Went Wrong”, recognize money laundering methods, identify their financial institution’s vulnerabilities, identify money laundering signals, and understand potential regulatory actions and/or law enforcement engagement.
- Provide attendees with a road map on how they can best fulfill their role in a quality AML program by informing them of the chain of procedures used by other AML professionals such as regulators and law enforcement. This process provides professionals with an understanding of the mechanisms of an AML program better equipping individuals in the application of their AML responsibilities.
- Real World Application: The AML Training Academy instructor will provide insight on the case studies drawing from his years of experience as a New York State Police Investigator and cross designated federal agent assigned to the position of NY state money laundering coordinator. As NY state’s money laundering coordinator he acted as a liaison between law enforcement and financial institutions. With this unique insight he will impart a first hand account of what law enforcement is looking for from financial institutions and how law enforcement and financial institutions work together to fill their common AML goal.
- Objective:
- Risk Management
- What is Risk
- How a Risk Based Approach Mitigates or Prevents Money Laundering and Terrorist
- Financing
- Assessing the Risk Associated with Illicit Activities
- Develop a Risk Matrix
- Case Studies
- Transaction Monitoring
- What is Transaction Monitoring
- Transaction Monitoring Process
- Suspicious Activity Report (SAR)
- What is a SAR
- The Basics of SAR Writing
- Narrative Guidance
- After the SAR
Research and Investigate
- Tabletop Detective – Steps to Due Diligence
- Investigating
- Tips for Investigators
- Open Source Intelligence
- Associating with Law Enforcement
Wrapup – Questions & Answers/strong>
Live Virtual Online May 04, 2023 10am – 06pm
Tuition
| Registration Type | Tuition | *Early Bird Special |
|---|---|---|
| Individual | $499 | $449 |
| Group (3 or more) | $449 | $399 |
| Law enforcement | $399 | $399 |
*Early bird specials available until 30 days prior to course date
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