Money laundering - J.B. MacLean Consulting Inc - Security solutions for today's technology

Money Laundering Programs

Want to know about money laundering? Our programs and seminar instruction are developed by specialists with Canadian, UK, and Middle East banking experience. They are based on case studies of actual events. They are well suited for accredited continuing education in the Canadian investment industry, corporate training, and personal use. For information on pricing and delivery for our general programs below or customized material for continuing education or corporate governance requirements, click on the following link. Click Here

The present programs provide for a structured training for specific levels within the financial sector.

1. Senior/Executive Management – Overview

This program provides the senior officers of the financial institution with a broad overview of money laundering and its economic impact both within the institution and the country. Participants will be introduced to the different levels of money laundering – Placement, Layering and Integration as well as other financial services products vulnerable to criminal abuse, e.g. Documentary Fraud and Tested Telex Fraud. Particular emphasis is placed on FATF recommendations and assistance available from that source.

2. Central Operations, Treasury and Back Office

This program covers all three levels of money laundering from “Placement” through “Layering” to “Integration”. Particular emphasis is placed on the need to “Know your Customer” and the variety of Money Laundering activities affecting various areas within Financial Institutions. Methods of detection and combating these activities from both an internal and external perspective are suggested.

3. Marketing officers & Relationship managers

This program introduces the three stages of Money Laundering from “Placement” through “Layering” to “Integration”. Particular emphasis is placed on the need to “Know your customer” and the identification of suspicious transactions.

4. Tellers, Money Changers and New Entrants

This program concentrates principally on the “Placement” stage and it provides a broad outline of the “Layering” and “Integration” stages, while identifying how various financial instruments are used by Money Launderers.

The course materials will include copies of the International Chamber of Commerce publications on Money Laundering and Prime Bank Instrument Fraud (where appropriate) as well as copies of PowerPoint presentations and the use of selected videos and interactive CD Rom material.

MONEY LAUNDERING AWARENESS PROGRAMS

Tellers/Cashiers/Money Changers/New entrants to Financial Institutions
Duration: 2 Sessions x 3 hours

Objective:

This program concentrates principally on the “Placement” stage and it provides a broad outline of the “Layering” and “Integration” stages, while identifying how various financial instruments are used by Money Launderers. The Central Bank legislation regarding money laundering will also be discussed.

Program Outline:
The program makes extensive use of Videos, CD Rom interactive material and slides.

Introduction/Course Overview
What is Money Laundering?
Video demonstrating the Money Laundering Cycle
Placement
Layering
Integration
Types of products and services used by Money Launderers
Suspicious counter transactions
Know your customer
Regulatory Issues – Central Bank Guidelines
What can I do? – Group discussion
Wrap-up

Sales/Consumer/Retail Banking Marketing Officers/Relationship Managers/OBU Customer Service Officers
Duration: 3 Sessions x 3 hours

Objective:

This program introduces the three stages of Money Laundering from “Placement” through “Layering” to “Integration”. Particular emphasis is placed on the need to “Know your customer” and the identification of suspicious transactions. The Central Bank legislation regarding money laundering will also be discussed.

Program outline:
The program makes extensive use of Videos, CD Rom interactive material and slides.

Introduction/Course Overview
What is Money Laundering?
Video demonstrating the Money Laundering Cycle
Placement
Layering
Integration
Types of products and services used by Money Launderers
Know your customer
Examples of client activity – suspicious transactions
Regulatory Issues – Central Bank Guidelines
What can I do? – Group discussions
Wrap-up

Central Operations Staff/Auditors & Financial Control Staff/Treasury Back Office Staff/Credit Staff
Duration: 4 Sessions x 3 hours

Objectives:

This program covers all three levels of money laundering from “Placement” through “Layering” to “Integration”. Particular emphasis is placed on the need to “Know your Customer” and the variety of Money Laundering activities affecting various areas within Financial Institutions. Methods of detection and combating these activities from both an internal and external perspective are suggested. The Central Bank legislation regarding money laundering will also be discussed.

Program outline:
The program makes extensive use of Videos, CD Rom interactive material and slides.

Introduction to Money Laundering
What is Money Laundering?
Video demonstrating the Money Laundering Cycle
Placement
Layering
Integration
International and Economic Implications of Money Laundering - Video
Know your customer - Video and Slides
Suspicious transactions – Foreign Exchange and Treasury
Other Types of Money Laundering and Fraud
Prime Bank Instrument Fraud
Tested Telex Fraud
The Criminal Abuse of the Documentary Credit System
Regulatory Issues – Central Bank guidelines – The Law
What can I do? – Group discussions
? Wrap-up

Senior/Executive Management – Overview
Duration: 1 Session – 1½ - 2 Hours

This program provides the senior officers of the financial institution with a broad overview of money laundering and its economic impact both within the institution and the country. Participants will be introduced to the different levels of money laundering – Placement, Layering and Integration as well as other financial services products vulnerable to criminal abuse, e.g. Documentary Fraud and Tested Telex Fraud. Particular emphasis is placed on FATF recommendations and assistance available from that source. The Central Bank legislation regarding money laundering will also be discussed.

Program outline:

Introduction and welcome
Financial Action Task Force on Money Laundering
Questions and Answers
Video demonstrating the “Placement”, “Layering” and “Integration” stages of Money Laundering.
Practical Implications of Money Laundering
Know your customer
Suspicious transactions
Other types of Money Laundering and Fraud
Prime Bank Instrument Fraud
Tested Telex Fraud
The Criminal Abuse of the Documentary Credit System
Regulatory Issues – Central Bank guidelines
Wrap-up

For more information on Money Laundering and this interesting topic, please visit our corporate radio site at: The Cyber Crime Report