How to Think Like a Crook - Money Laundering Prevention

Why Should You Attend:

You probably have spent huge sums of money and time in learning the Bank Secrecy Act (BSA) regulations, but it is necessary for every employee of a financial institution to possess updated knowledge in detecting and preventing financial fraud or money laundering within their institution. This online training on anti-money laundering will take attendees beyond the basics of Bank Secrecy Act (BSA) regulations to the point of criminal behavior.

This AML compliance webinar will help attendees learn how methamphetamine dealers’ income could be laundered and how criminals try to “launder” their money. It will focus on educating financial institution staff about the types of transactions criminals utilize and criminal financial behavior. This comprehensive tool on anti-money laundering will help you streamline your investigations, to perform due diligence research and to fight fraud in order to protect your organizational assets

This course has been developed after conversations with the FBI, Department of Homeland Security, Banking Regulators and the Financial Task Force of the DEA.

Areas Covered in the Webinar:

This banking and financial services training will discuss the following topics:

• Resources available for further study.
• Why the regulators are so diligent about money laundering.
• Cocaine, Meth and Meth labs in the USA.
• Blackmail & Extortion.
• Various methods for laundering money.
• Case Studies from the field.
• How to incorporate BSA training into your financial institution.

Who Will Benefit:

This online training on financial fraud detection and prevention will be providing valuable assistance to the following personnel in financial institutions:

• Financial Officers
• Bank Secrecy Act Officers
• Financial institutions front Line Staff
• Risk Officers
• Operational Managers

Doug Keipper
Certified Anti-Money Laundering Specialist, Leading Bank

Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and a former Bank Secrecy Act officer and compliance officer for an $800 Million commercial bank in Atlanta before it sold twice in one year. Doug sold BSA software for eight years and has taught anti-money laundering classes since 2008 throughout the southeast and online. He has talked with over 500 BSA officers throughout the USA and Caribbean. He has spent over 20 years in retail banking, wholesale mortgages and financial services

Topic Background:

Financial institutions across the globe are facing increased pressure to meet Anti-Money Laundering (AML) compliance requirements. Established names in banking such as HSBC and Standard Chartered have paid huge fines for laundering money for various criminal enterprises. Standard Chartered paid a fine of $327 million while HSBC paid $1.9 billion. According to a report in The Economist, both the banks acknowledged, through signed statements, that they had “facilitated illicit financial transfers on behalf of Iran, Sudan, Myanmar and Libya”. HSBC was accused of having also laundered money on behalf of Mexican and Colombian drug cartels.

These, and other previous significant settlements with US authorities, shows that all financial institutions are vulnerable to money laundering and need better, stronger compliance processes in order to avoid the regulator’s wrath and billions of dollars in fines.

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