The Vulnerabilities of Financial Institutions to Money Laundering and Terrorist Financing

Explore the vulnerabilities faced by financial institutions due to money laundering and terrorist financing in this expert-written short course. By the end of this course, you will: Know how to identify the vulnerabilities in various products and services that money launderers could exploit Know why criminals might set up their own banks and how money launderers can use trusts, insurance and investment services to launder the proceeds of crime Understand how private banks and corporate service providers may be at risk of exploitation by money launderers Know how money launderers are targeting new areas like gambling, mobile financial services, the Internet, prepaid cards, and virtual currencies to evade AML efforts. This course is suitable for professionals with specific anti money laundering duties, operational or front-line staff or those considering embarking on a new career in AML.

• Why financial services businesses are at risk to money laundering
• Bank accounts and banking services
• Incorporating a bank
• Private banking services
• Use of legal entities for money laundering
• Trustee services
• Insurance services
• Investment products and services
• The betting and gaming sector
• Mobile financial services
• How m-Money and m-Payments work
• Prepaid cards
• Virtual currencies