Money Laundering uses money or assets created by criminal activity which are then exchanged for money or other assets that are “clean”. In UK law, Money Laundering includes any money used to promote terrorism regardless of its origin.
This interactive course enables users to understand the importance of regulatory bodies and what regulations are in place.
This Money Laundering eLearning course describes the Financial Action Task Force (FATF) and explains the significance of the Proceeds of Crime Act (PCA). Users will learn that it is an offence to benefit from a criminal activity. This includes, money stolen or obtained by fraudulent means. Additionally, it is illegal to transfer or remove the proceeds of crime.
Completion of this course will enable delegates to identify the possible signs of Money Laundering. Areas such as business type, suspicious behaviour, payment patterns and geographical location are discussed.
It is important for employees to know what to do if they suspect criminal activity is present in their organisation. The importance of the National Crime Agency (NCA) is explained, the significance of risk assessments and need for a Money Laundering Reporting Officer (MLRO).
This Money Laundering eLearning course highlights the different stages of Money Laundering, (placement, layering, integration and payment methods) and discusses how to ensure your business is dealing with a legitimate organisation or individual. The four stages of Customer Due Diligence (CDD) is explained and what to do if you need to report suspicious activity.
Businesses which require additional laws and supervision by Supervisory Authorities (SA) are explained in this unit. For example, the legal sector which requires the Law Society as it’s supervisory body to support in the improvement of processes and procedures.