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“From Capone to Compliance” Agenda
Seminar Description: Attendees receive a full days comprehensive training with an AML master trainer. “From Capone to Compliance” seminars fully engage attendees in active participation to create a more dynamic learning environment and elevate retention and understanding of material. Along the way we’ll use several group exercises to reinforce information retention through application. Attendees receive AML training Certificates of Completion and eligible attendees earn six CAMS recertification credits.
Objective: Participants to understand AML regulations, policies, and procedures that apply to financial institutions, businesses, and law enforcement. Attendees will engage in a Money Laundering “ride along” taking them from beginning to end starting with the bad guys’ perspective on how criminals abuse the financial system to the various lines of defense that financial institutions provide via their sound quality AML programs. We’ll emphasize the SAR process and narrative writing skills. We’ll finish with how and why information is shared with law enforcement and what law enforcement does with the information. Finally we’ll reverse engineer the process to indicate why actions taken on the back end are influenced by the AML policy and procedures from the beginning of a relationship.
- Review, reinforce, and refresh participants AML knowledge, assess participants level of AML knowledge, and introduce new AML information.
- Lecture on predicate crimes and organized criminal activity.
Profiling various laundering methods.
- Outline the value of the risk assessment circle and its relationship to law enforcement.
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 bad guys abuse the system.
- Increase participants ability to identify money laundering.
- Ease participants into a team building experience. Teams must work together to manipulate illicit funds through the financial community and integrate those funds back into the legitimate system. Each group will discuss, create, and develop their money laundering empire using the proceeds from their assigned predicate crime.
- Real World Application: Review how financial institutions are able to detect red flags and/or develop rules to assist in the risk assessment process.
Elements of a Quality AML Program
- For financial institutions and the business sector this is the medicine that will keep the disease of dirty money out of your house. Understand why and how a quality AML program should operate.
- For law enforcement, knowing basic bank procedures can help put the pieces of the puzzle together as to a suspect’s movements and follow the money.
- The Five Pillars of a Quality AML program
- Understanding Risk
- Risk Based Approach
- Risk Appetite
- Accepting Risk
- Customer Due Diligence
- KYC and CIP
- On-boarding and Maintaining
- Transaction Monitoring
- Automated Systems
- Fine Tuning
- Manual Monitoring
- Suspicious Activity Reporting (SAR)
- Recognizing Unusual Behavior
- Writing a Quality Narrative
- What Happens After the SAR
Suspicious Activity Reporting
- In depth study on the SAR process and how it weaves its way through on boarding, CDD, transaction monitoring, and SAR development. We’ll finish with how and why information is shared with law enforcement and regulators, what law enforcement and regulators do with that information, and why those methods effect AML policy and procedures.
- Along the way we’ll use several group exercises to reinforce information retention through application.
- We will flex the attendees problem solving muscles and develop their AML analytical skill set to become more effective in their role combating money laundering and reducing risk within their institutions or agencies.
- Proper Know Your Customer(KYC) and Customer Identification Program (CIP) policies and procedures.
- Transaction Monitoring
- Investigate like a Detective
Join this money laundering “ride along” starting with the bad guys’ perspective on how criminals abuse the financial system to the various lines of defense financial institutions, the business sector, law enforcement, and regulators provide via their sound quality AML programs and procedures. We’ll emphasize the SAR process including how to write a proper narrative. We’ll finish with how and why information is shared with law enforcement and what law enforcement does with the information. Finally we’ll reverse engineer the process to indicate why actions taken on the back end are influenced by the AML policy and procedures from the beginning of a relationship.
Hope to see you there!