To introduce participants to the universal pervasiveness
of the crime of money laundering, to focus their attention
on the reputational damage an institution can suffer from
association with money launderers and fraudsters, and to satisfy
the regulatory requirement of addressing the responsibilities
of the individual and the institution in this regard.
The regulatory and legal bodies ranged against fraud and laundering, domestic, international and the Financial Action Task Force
Legal obligations of the individual/employee and of the employer
Introduction of customer, and account-opening procedures
Retail financial services and areas of special vulnerability
Susceptibilities in the wholesale markets
How criminals use apparently legitimate businesses as a front for laundering
Hawala, the chit, chop and fie chien systems - alternative banking
Offshore banking, unregulated areas, and jurisdictions of current high risk
Case studies in appropriate private banking, corporate and commercial banking, trade finance, wholesale markets and in the corporate and non-bank sectors to highlight the threat.
