ComplianceOnline

Red Flags of Money Laundering and How to Mitigate Risk Against the Crime of Financial Facilitation of Criminal Activity

Instructor: Mark Malinowski
Product ID: 703742
  • Duration: 60 Min

recorded version

$149.00
1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section

Training CD

$299.00
One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

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Read Frequently Asked Questions

Criminals and criminal enterprises constantly manipulate the banking system to move their illegal proceeds through financial institutions. Their methods and trends are always changing, so investigative personnel, accountants, auditors, and FIU personnel need to be aware of these activities. This course will instruct attendees on how to examine each transaction to determine the method, the reason, and potential destination of the funds to protect financial institutions during personal and business transactions.

Why Should You Attend:

As the world around us changes and technology allows us to perform financial transactions from anywhere in the world, FIU personnel are becoming frontline investigators in the prevention and detection of illegal funds entering and exiting their institutions.

This course will address the methods and trends that are impacting both the private and public sectors along with real life case studies detailing the methods criminals and criminal enterprises use to move illegal funds through your financial institution to their final destinations. The prevention and detection of money laundering must be handled through joint cooperation of both corporate investigators and AML investigators. The resources that each department holds will allow for a more in-depth analysis of all accounts suspected of money laundering.

Learning Objectives:

  • Highlight the current methods and trends utilized by criminals and criminal enterprises to move illegal funds through financial institutions
  • Provide a case study analysis addressing the key elements of prevention and detection

Areas Covered in the Webinar:

  • The Money Laundering Transaction
  • Current Methods and Trends in Money Laundering
  • Investigative Responsibility of Financial Institutions
  • Risk Factors when Money Laundering is Undetected
  • Key Elements when Conducting an Account Analysis
  • Working with Law Enforcement
  • Case Studies Highlighting Methods Utilized by Organized Crime Perpetrators

Who Will Benefit:

  • Financial institution branch managers
  • Risk/compliance officers
  • AML investigators
  • Fraud investigators
  • Corporate investigators
  • Forensic accountants and auditors
  • Certified fraud examiners (CFE)
  • Certified anti-money laundering specialists (CAMS)
  • Accountants tracing personal or business assets
  • FIU personnel responsible for reviewing and tracking accounts

Instructor Profile:

Mark Malinowski has over 15 years’ experience working in both the banking industry and as a law enforcement professional conducting financial crimes investigation, detecting fraudulent activity within public and private organizations, and designing fraud prevention programs for various business and government agencies.

Mr. Malinowski is currently a supervising detective with the Ocean County Prosecutor's Office assigned to the special investigations unit, which investigates economic crimes, internal affairs, corruption, and organized crime. He was deputized as a US marshal/IRS special agent from 2007-2009, while investigating an international gambling and money laundering operation. He was a member of the Ocean County Regional SWAT team from 2009-2011.

Mr. Malinowski has conducted and supervised various types of financial investigations ranging from theft by deception, money laundering, asset forfeiture, organized crime enterprises (street gangs and traditional), racketeering, tax offenses, mortgage fraud, insurance fraud, Ponzi schemes, embezzlements, and the tracing of financial funding for domestic and international narcotics trafficking throughout the State of New Jersey and on a global scale.

He has testified in New Jersey Superior Court as the lead detective for several complex white-collar crimes investigations. These career experiences have provided him with a vast knowledge of how financial crimes are perpetrated along with the ability to analyze financial data to prevent, detect, investigate and prosecute the various levels of worldwide financial fraudulent activity that impact all types of businesses.

He has earned a master’s degree in financial fraud and forensics from Carlow University and a bachelor’s degree in business studies with a concentration in marketing from Richard Stockton College of New Jersey. He holds professional certifications as a Certified Fraud Examiner (CFE) and Certified Anti-Money Laundering Specialist (CAMS). In addition, he has completed all the courses and professional experience requirements to sit for the Certified Public Accountants exam in the State of New Jersey.

Mr. Malinowski is a certified State of NJ police instructor who teaches at the Ocean County Police Academy training recruits in the areas of fraudulent documents, financial investigations, internal affairs, money laundering, organized crime, and the financial exploitation against senior citizens. In 2013, he established Framework Financial, LLC, which specializes in the development of anti-fraud educational seminars and fraud risk assessments for all types of businesses and public sector agencies. This led him to be the instructor and designer of the Certificate of Financial Crimes Investigations program held at the Richard Stockton College of New Jersey Center for Public Safety & Security. He has presented as a guest speaker at several colleges and private companies, throughout New Jersey, on the topics of financial and money laundering investigations.

Topic Background:

When people hear the words ‘money laundering,’ they assume it is connected to organized crime and/or narcotics trafficking, but these days money laundering can involve multiple areas of criminal activity. This activity impacts our financial institutions mainly because some institutions are unaware of how illegal funds are moving through their company’s accounts. This failure to prevent, detect and investigate the methods utilized by criminal enterprises result in record breaking fines to these financial institutions for not having strong enough AML policies in place to control these transactions. These fines place a significant impact on the financial institution, which they are imposed on, as well as the banking industry as a whole. These immense fines directly influence all levels of the banking industry from C-level management to frontline employees and finally the customer.

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