Money laundering is the process by which criminals disguise the proceeds of their crimes in order to make them appear legitimate or legally earned. It is often linked to organized crime (including human trafficking and the illegal drug trade) and terrorist activity. This practical course will give Board members and their senior managers a solid understanding of core money laundering and terrorist financing risks as well as the systems and procedures needed to guard against them.
For the last thirty years, the international financial services community has worked closely with governments and police forces at all levels. To this end, various government agencies and industry bodies have sought to devise and implement effective control mechanisms, including laws and regulations, supervisory regimes and industry guidance to identify and report on such activities. These regulations and guidance are continually updated to address ever-more sophisticated money-laundering schemes and recent developments in digital technology.