Anti-Money Laundering – Understanding the Process

Field: Fraud | Delivery Method: Self Study | CPE Hours: 1.5

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Anti-money laundering (AML) has been a hot topic for financial institutions for decades. Proceeds from these criminal activities represent an estimated 2% to 5% of global GDP.

In the U.S. that’s equivalent to $800B - $2T a year, according to the U.S. Office on Drugs and Crime. Money laundering disguises the sources and destinations of these funds and fuels negative downstream effects. This includes compromised financial systems and the means to keep terrorists and crime rings in business.

Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Anti-money laundering laws cover a limited range of transactions and criminal behavior, but their implications are far-reaching.

The Laws and regulations surrounding AML are numerous and have progressed throughout the years. This course is aimed at understanding the stages of money-laundering, the primary methods used, the laws in place to help prevent and mitigate money laundering and identifying professions that may be most involved in money laundering.

Future sessions will focus on processes for mitigating and monitoring for money-laundering. We will use the “progression of AML chart” presented towards the end of this presentation as a framework to discuss our topic in future courses.

Lesson Objectives:
  • Define anti-money Laundering and examine how it works.
  • Explore the history of AML.
  • Identify the stages of AML.
  • Examine the methods used for money laundering.
  • Introduce the progression of AML.

Field: Fraud
CPE: 1.5
Delivery Method: Self-Study
Format: Video

Your Instructor

Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author

Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.

As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.

Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma

Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.

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