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Red Flags of Money Laundering
- What is money laundering
- History of money laundering
- Red flags of structuring
- Red flags of micro-structuring
- Red flags of cuckoo smurfing
- How can allowing money laundering affect me/my financial institution/USA
- When do we tell the BSA officer, and what should we use to communicate
- The customer told me that she is hiding money from the IRS, should I tell BSA
- What are the Red Flags for Identity Theft
- We did not book the mortgage loan so why should I tell BSA that the identification and TIN did not match
Overview of the webinar
This webinar will explain what money laundering is, various types of money laundering including structuring, micro-structuring, and cuckoo smurfing. Attendees will learn how to identify the red flags of money laundering in an account within your institution.
Who should attend?
- Banking compliance Personnel
- Credit Union compliance Personnel
- Financial institution compliance Personnel
- Branch Management Staff
- Training Department/Program Professionals
- District Bank/Credit Union/Financial Institution Managers
- Teller Supervisors
- Compliance Managers
- Compliance Analyst/Investigators
Why should you attend?
Money laundering is one of the primary concerns for any financial institution. The key to success is to know what to look for when reviewing accounts for money laundering. In order to identify possible money laundering in an account, it is first crucial to understand what money laundering is, various types of money laundering and how to spot the red flags of money laundering in an account.
This webinar will teach me how to spot money laundering from a branch perspective along with a compliance department perspective.
Faculty - Mr.Jim George
Jim George is an independent consultant to banks focusing on issues of fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry.
Jim's work has included projects in fraud investigation, fraud prevention, identity issues, compliance and AML (anti-money laundering). His background includes work in bank operations and payments strategy, reengineering, systems and quality improvement.