Description
Non-regulated business can serve as vital link in the money laundering chain, whether wittingly or unwittingly. With the correct training and risk awareness, all non-regulated businesses can break the chain and cut off the link that criminals and terrorists need to fund their enterprises.
Every suspicious transaction reported or red flag spotted helps break the chain, bring criminals to justice and prevent innocent victims from being hurt by crimes such as human trafficking, drugs, violence, and terror.
This course provides an overview of money laundering, explains how non-regulated businesses could inadvertently be used in the money laundering chain, and who to contact in the event of any suspicions.
Learning objectives
- Gain an understanding of how money laundering works in practice
- Understand how money laundering can negatively impact non-regulated businesses
- Know the laws and offences related to money laundering and terrorist financing, including penalties for breaking the law
- Understand the definition of suspicion and how to identify suspicious transactions
- Be aware of red flags relevant to non-regulated businesses and know how to spot them
A base course for new staff and first-time learners who have high exposure to money laundering risk, including staff involved in client onboarding or due diligence.
