Anti-Money Laundering Course
UGC Admin
Created on September 23, 2024
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Transcript
Anti money launderingTraining
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Money laundering is the process of concealing the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.Preventing money laundering is crucial because it helps combat criminal activities such as drug trafficking, terrorism, and corruption. It also protects the integrity of financial systems and ensures compliance with laws and regulations.
AML
What is money laundering and why is it important to prevent it?
Integration: Reintroducing the laundered money into the economy as legitimate funds.
Integration
Layering: Concealing the source of the funds through complex transactions.
Layering
Placement: Introducing illegal funds into the financial system
Placement
AML
There three stages of money laundering
Watch this video - even "normal" people can be part of a wider illegal organisation
AML
Does this apply to us?
Quiz 1/4
AML
If I suspect _______ laundering activities, I will_________ the suspicious activity to the designated AML Compliance Officer______ and _________all relevant details.
Drag the concept to its corresponding gap
Concepts
AML
Document
Money
Immediately
Report
check
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If I suspect money laundering activities, I will report the suspicious activity to the designated AML Compliance Officer immediately and document all relevant details.