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Red Flags and High-Risk AML Transactions

Monthly on selected Thursdays at 1:00 p.m. Central Time in two CPE event

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.

The retail cost of the online 2 CPE internal auditor training event is $120 per attendee.

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

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Business Ethics
CPE Credits: 2, based on 50 minutes of instruction per hour

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 Thef

Key Items 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