Dirty Money Diagnostics
Overview
Online
Description
Fraud and money laundering are interconnected and intrinsically linked. As a fraud examiner, it is important for you to understand the ways in which fraudsters disguise, conceal and reintroduce the money they misappropriate. Whether it is dirty money embezzled from a business or scammed out of individuals’ checking accounts, the fraudster’s ultimate goal is to use the money generated by their fraud for themselves. To avoid being caught and to evade the scrutiny of financial institutions and government watchdogs, fraudsters must figure out how to launder the proceeds of their crime and conceal the source of the dirty money. Not only does money laundering provide another enforcement mechanism, it also provides another way to identify fraud schemes and connect the dots between and within criminal enterprises.
In Dirty Money Diagnostics, Michael Schidlow will first walk you through the history of dirty money and breaks down the basics of modern-day money laundering. Next, he will cover a variety of scenarios to help you better understand the analyses used to track the proceeds of this type of crime. Finally, you will follow along as Schidlow walks through a real-world example diagnosing small business money laundering.
Prerequisites
None
You Will Learn How To:
Recognize the intersection of fraud and money laundering.
Identify sources of evidence for following a money laundering paper trail.
Determine the mechanisms of money laundering.
Develop methods to analyze a business’s or individual’s behavior for red flags of money laundering.
Table of Contents
| Unit 1 | A History of Dirty Money (Video length - 16:22 minutes) |
|---|---|
| Unit 2 | Money Laundering Basics (Video length - 24:28 minutes) |
| Unit 3 | Objective vs. Subjective Analysis (Video length - 8:45 minutes) |
| Unit 4 | Following the Money (Video length - 15:08 minutes) |
| Unit 5 | Net Worth Analysis (Video length - 17:09minutes) |
| Unit 6 | Money Laundering Scenarios (Video length - 14:46 minutes) |
| Unit 7 | The Paper Trail (Video length - 12:53 minutes) |
| Unit 8 | Money Laundering in Motion (Video length - 18:10 minutes) |
| Unit 9 | Key Takeaways (Video length - 3:42 minutes) |
| Postscript | Insight into the Expert (Video length - 4:34 minutes) |
CPE Information
| CPE Credit: | 4 |
|---|---|
| NASBA Information: | Auditing |
| Advance Preparation: | None |
| Last Updated: | June 2025 |
| Delivery Method: | QAS Self-Study |
About the Expert
Michael Schidlow, CFE - Expert
Professor and Lecturer
Michael Schidlow is a compliance and risk management specialist with more than 15 years of experience in law, compliance, audit and consulting. He has held leadership roles with Bank of China, HSBC and Bank of America. His primary practice area is in fraud and anti-money laundering, utilizing an integrated approach to compliance, information technology, cyber-security, and internal ethics.
Schidlow is a Certified Fraud Examiner (CFE), licensed attorney and serves as a professor of criminal justice, cybersecurity and ethics.
Policies
CPE Credit
Please note: To be eligible for CPE credit, you must complete the final exam within one year of purchase date. You may only claim CPE credit for a course once.
ACFE Expert Insights Self-Study Courses
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- High-quality, on-demand video lectures on anti-fraud topics given by experts in the profession
- Engaging, interactive course elements
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System Requirements:
- Internet access: High-speed connection recommended
- Speakers required for video sound
The Association of Certified Fraud Examiners, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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