Recognizing Money Laundering

Have you ever seen a drug dealer pull out a credit card machine to accept payment for a dime bag? Ever known someone to pay for a TV they bought off the back of a truck with a personal check? Probably not. Most criminals conduct their business in cash. This creates an obvious problem - cash is bulky, heavy, and risky to carry around. (One million dollars in twenties weighs about one hundred pounds.) As a result, criminals need to find a way to 'launder' their ill-gotten gains.

Money laundering is the process that criminals use to disguise the true origin and ownership of cash by introducing it into legitimate enterprises. Laundering money is a lucrative and sophisticated business, both in the U.S. and overseas.

Some sources estimate that about $800 billion to $2 trillion is laundered annually worldwide.

Course Learning Objectives

By taking this online Recognizing Money Laundering course, the user will learn to:

• Define money laundering
• Identify the basic steps in the money-laundering process
• Review some of the U.S. money-laundering laws
• Identify anti-money-laundering reporting requirements, including the prohibition of structuring
• Identify ways to prevent money-laundering within your business
• List some red flags that indicate money-laundering

Course Outline

This online Recognizing Money Laundering course is made up of the following sections:

1.  Defining 'money laundering'
2. The money-laundering process
3. Section 1956 of the Money Laundering Control Act
4. Section 1956 of the Money Laundering Control Act
5. Reporting requirements
6. Anti-structuring rules
7. Red flags
8. Tips for preventing money laundering

Course Audience

This Recognizing Money Laundering online training course was designed for business owners.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.