Red Flags of Money Laundering

Instructor: Kimberly Suchora
Product ID: 703417
  • 14
  • March 2017
  • 12:00 PM PDT | 03:00 PM EDT
    Duration: 60 Min

Live Online Training
March 14, Tuesday 12:00 PM PDT | 03:00 PM EDT
Duration: 60 Min

One Dial-in One Attendee
Group-Max. 10 Attendees/Location
(For multiple locations contact Customer Care)

recorded version

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 48 hrs after completion of Live training

Training CD

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 after completion of Live training

Customer Care

Fax: +1-650-963-2556


Read Frequently Asked Questions

This webinar will explain what money laundering is, various types of money laundering including structuring, micro-structuring and cuckoo smurfing. Attendees will learn how to identify the red flags of money laundering in an account within your institution.

Why Should You Attend:

Money laundering is one of the primary concerns for any financial institution. The key to success is to know what to look for when reviewing accounts for money laundering. In order to identify possible money laundering in an account, it is first crucial to understand what money laundering is, various types of money laundering and how to spot the red flags of money laundering in an account.

This webinar will teach how to spot money laundering from a branch perspective along with a compliance department perspective.

Areas Covered in the Webinar:

  • 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 affect me/my financial institution/USA?
  • When do we tell the BSA officer, and what should we use to communicate?
  • The customer told me that she is hiding money from the IRS, should I tell BSA?
  • What are the Red Flags for Identity Theft?
  • We did not book the mortgage loan so why should I tell BSA that the identification and TIN did not match?

Who Will Benefit:

  • Banking compliance Personnel
  • Credit Union compliance Personnel
  • Financial institution compliance Personnel
  • Branch Management Staff
  • Training Department/Program Professionals
  • District Bank/Credit Union/Financial Institution Managers
  • Teller Supervisors
  • Compliance Managers
  • Compliance Analyst/Investigators

Instructor Profile:
Kimberly Suchora

Kimberly Suchora
Senior Internal Auditor, Hard Rock Rocksino Northfield Park

Kimberly Suchora’s proficiency is providing training solutions for MSB’s, Banks, Credit Unions and Financial Institutions operating in developing a knowledgeable and proficient team with a complete understanding of BSA/AML/CFT. She has extensive experience developing institute appropriate training programs and has provided her expertise in several institutions across the nation. Most of her work has been focused on beginner and intermediate training along with extensive teller, fraud and analyst experience focusing primarily on transaction monitoring, EDD, fraud detection and prevention and loss recovery.

She holds a BA from Youngstown State University, where she was Dean List awarded, and has worked in multiple facets of the financial institutional structure. She earned her CAMS certification in January 2014.

Prior experience includes various positions at a Florida based MSB as an FSA, AM, CM, BM, Corporate Trainer and Overnight Auditor along with being a Loss Prevention Specialist at a Florida based credit union and an Ohio based consulting company as an Analyst, Investigator and Training Consultant.

Topic Background:

The primary reason to avoid money laundering is first and foremost because it is against the law. Money laundering has existed since the early 1900’s and continues to this date. Most notably, money laundering became a spot lighted concern due to the war with Al Qaida and the war on terrorism. Because of the events of 9/11 it has become imperative that we as financial institutions understand what to look for when identifying money laundering. Money laundering is a major vehicle for various types of crimes worldwide, including terrorism. The most important thing to remember is, while money laundering is one of the oldest crimes in the modern era, it is still an evolving and growing financial crime.

To prevent a hefty fine along with the bad press, possible jail time and even the closure of your financial institution, it is necessary to know how to look for money laundering and what some of the major and most common red flags are for various types of money laundering. A number of financial institutions in recent years have paid considerable fines for conducting transactions that should have been recognized as money laundering. The negative publicity that has followed some of these large fines has caused various institutions to close or sell because of lack of trust by the public to do business with them.

To ensure you, your employees and your financial institution are not fined, jailed or forced to close, it is imperative that you understand what to look for when identifying possible money laundering in accounts within your institution.

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