Effective Anti-money Laundering Program - Financial Fraud Detection, Prevention

Instructor: Richard Cascarino
Product ID: 702754
  • Duration: 90 Min

recorded version

1x Person - Unlimited viewing for 6 Months
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Recorded Link and Ref. material will be available in My CO Section

Training CD

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Read Frequently Asked Questions

Anti-Money Laundering (AML) activities will help to prevent the use of financial institution or its infrastructure for money laundering purpose by criminal elements. This 90 minute webinar will discuss in detail the importance of appropriate internal controls implementation that is specific to money laundering in order to detect activities defined as suspicious under the laws of a given jurisdiction.

Why Should You Attend:

Combating money laundering involves an increased care in the area of data management. In some jurisdictions, the triggers for suspicious activity are laid down by legislation and can be automated within the information systems of the financial institution. In others, risk profiling may be required in order to identify suspicious patterns when compared against potential money laundering scenarios. This webinar will guide attendees through the importance of effective money laundering activity prevention and how to promote the early detection of potentially improper financial transactions.

Areas Covered in The Webinar:

This webinar will discuss the following topics relating to Anti-Money Laundering activities:

  • The nature of money laundering.
  • Internal controls over customer identities.
  • In the case of an organization, proof of nature of business activity and financial status.
  • Employee education.
  • Changing in the internal culture of an organization.
  • TLegislative requirements.
  • Designing and implementation of an effective Anti-Money Laundering program.
  • Money Laundering and the financing of terrorism.

Who Will Benefit:

This session will be beneficial for anyone involved in the management and control of cash flows within an organization.

Instructor Profile:

Richard Cascarino, is the Principal of Richard Cascarino & Associates, a highly successful audit training and consultancy company based in Colorado and Johannesburg. He is a regular speaker at national and international conferences and has presented courses throughout Africa, Europe, the Middle East and the USA. Richard is a Past President of the Institute of Internal Auditors in South Africa and also a member of ISACA and the Association of Certified Fraud Examiners. He was a member of the Audit Committee of the Department of Public Enterprises in South Africa and chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services and Health). He is the author of the "Auditor's Guide to IT Auditing" and the newly released “Corporate Fraud and Internal Control: A Framework for Prevention” both published by Wiley Publishing which is also used by universities worldwide.

Topic Background:

Money laundering, at its most basic, is the act of making money earned from illegal activities such as drug trafficking and terrorism look as though it comes from legitimate business. Given the large volume of money coming from illegal activities, the laundering of huge quantities of cash becomes critical. The overall objectives of anti-money laundering activities are:

  • Prevention of the use of the financial institution or its infrastructure for money laundering purposes by criminal elements.
  • Implementation of appropriate internal controls specific to money laundering in order to detect activities defined as suspicious under the laws of a given jurisdiction.
  • To ensure compliance by the financial institution with all applicable laws and regulations.
  • Improving the financial institution’s knowledge of the financial dealings of its own customers in order to ensure the appropriate risk management.

Ensuring compliance with Anti-money Laundering legislation can be critical for the Board to demonstrate adequacy of governance procedures and internal control structures as required by national, international and industry-specific legislation.

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