Red Flags and High-Risk AML Transactions

Price

$120.00

Duration

2 CPEs

About the Course

Being offered twice a quarter on Tuesdays at 1:00 p.m. to 3:00 p.m. Central Time.

Anti-money laundering (AML) policies and procedures are a hot topic in the financial services industry!

Is your bank feeling pain from this intensifying regulatory requirement for the financial institution?

Properly managing high-risk transactions is a basic requirement in the banking industry. This event is focused on helping the bank to avoid reporting failures which can lead to sanctions. This event covers both the identification and the management aspects of high-risk transactions within the financial institution.

Much of the session we will discuss actual money laundering strategies and techniques. And for each, what are the Red Flags such activities should raise?

Missing "Red Flags" indicating money laundering can take place at your bank. The failure to file a SARs has potential regulatory ramifications. This event looks at money laundering detection from a very different point of view. Most bankers will go their entire careers without uncovering a case of money laundering. It is hard to be on the lookout for something you have never seen before.

The material in this valuable program is based on research, actual investigations, and 20 years in Miami banking. The instructor describes common laundering techniques and the Red Flags to look for.

This timely, two hour CPE training event is designed for the internal auditor, compliance professional and others who wish to improve their AML tradecraft skills.

Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

This CPE training event focuses on detecting money laundering in the finance sector because it is getting trickier to detect.

The instructor will discuss how to create and implement an internal control program that covers all the Red Flags and high-risk anti-money laundering transitions.

In this event the Red Flags are organized for each bank functional area. We provide additional tips and information based on years of consulting with major banks from the perspectives of prevention, loss reduction, detection, and investigations.

CPE Event Highlights

Money laundering is one of the primary regulatory concerns for any financial institution.

This webinar will provide valuable assistance to all personnel with AML responsibilities in banks or other financial institutions:
What is money laundering
History of money laundering
Red flags of structuring
Red flags of micro-structuring
Red flags of cuckoo smurfing
How can allowing money laundering will affect the financial institution
How to communicate with the BSA officer
What are the Red Flags for Identity Theft
Understanding money launderers' strategies and techniques

This webinar will teach the attendee how to spot money laundering from the branch perspective and from an overall compliance department perspective.

Learning Objectives

This CPE event will cover the following learning objectives:
What is money laundering
History of money laundering
Red flags of structuring
Red flags of micro-structuring
Red flags of cuckoo smurfing
How can allowing money laundering will affect the financial institution
How to communicate with the BSA officer
What are the Red Flags for Identity Theff

Key Issues on the Agenda

The major agenda items within this intense CPE training event are answering:
Requirements of the Bank Secrecy Act (and related areas of the USA PATRIOT Act)
Know Your Customer (KYC) requirements
Currency Transaction Reports (CTRs) requirements
Suspicious Activity Reports (SARs) requirements
New Customer Due Diligence requirements
Steps are specifically required by the regulations
Analytic engines
Compliance Issues
Current issues and problems
AML and Fraud overlaps
Adaptation by perpetrators
False Positive Problem

Your Instructor

Jim J. George

Over 30 years of experience as a consultant and advisor to major banks. He was an associate partner and principal at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture).

Jim J. George