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Red Flags and High Risk AML Transactions

Red Flags and High Risk AML Transactions

Anti-money laundering (AML) policies and procedures are a hot topic! Is your bank feeling pain from this intensifying regulatory requirement for financial institutions?

 

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 management aspects of high-risk transactions within a 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" may indicate money laundering could take place at your bank. Failure to file 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 difficult to search 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.

 

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

  • Details on Event Presentation

    Being offered twice a quarter on Thursdays at 10:00 a.m. to 12:00 noon Central Time.

    We can schedule private events on your timetable for two or more attendees.

  • 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 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

$140.00Price
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