There are many ways in which money can be diverted in order to obscure its origins and avoid paying taxes. In Money Laundering: Schemes and Detection Methods, we cover many of the techniques being used to launder money, while also providing an overview of the methods used to detect its existence and build a case against money launderers. The course also describes the essential points of the United States legislation being used to grapple with the problem, and the reporting systems in place to highlight where money laundering may be occurring.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the types of businesses from which money laundering operations can most easily be run.
Describe the different types of money laundering schemes, how they operate, and their tax effects.
Specify the types of actions a money launderer may take to move cash into or out of his home country.
Describe how the black market peso exchange operates.
Describe the activities of the Financial Crimes Enforcement Network.
Specify how a person might avoid the reporting associated with a large currency transaction.
Recognize the actions that might trigger the filing of a financial notification report.
Describe the different activities that can be used during a money laundering investigation to collect information, and the ramifications of each one.
Specify the types of investigations that can be conducted to estimate a person's income.
Major Topics
The Concept of Money
Money Laundering Schemes
Asset Concealment
Acts Pertaining to Money Laundering
Financial Crimes Enforcement Network
Reporting Requirements Intended to Detect Money Laundering
Suspicious Activity Report
Report of Foreign Bank and Financial Accounts (FBAR)
Report of Cash Payments over !10,000 Received in a Trade or Business
Detection of Money Laundering
