Dirty Money Diagnostics

Image of Laptop Computer with Expert Michael Schidlow talking on Screen
Course Level
Delivered via
3 Credits


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.



You Will Learn How To:

Recognize the intersection of fraud and money laundering

Identify sources of evidence for following a money laundering paper trail

Describe 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: 3
NASBA Information: Auditing
Advanced Preparation: None
Last Updated: November 2023
Delivery Method: QAS Self-Study

About the Expert

Michael Schidlow, CFE - Expert


Michael Schidlow, CFE is a financial crime compliance advisory and training specialist who has held leadership positions in the legal, compliance, and audit fields. Schidlow has served as the director of financial crime risk training for HSBC’s Global Internal Audit function. He delivered training and guidance on anti-money laundering, sanctions, anti-bribery and corruption, and fraud. Schidlow also led emerging risk advisory, consulting on audit scoping and planning.


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


  • High-quality, on-demand video lectures on anti-fraud topics given by experts in the profession
  • Engaging, interactive course elements
  • 24/7 access to courses through your Internet browser
  • Save time and quickly earn CPE credits with instant access, grading and printable certificate
  • The flexibility to start or stop a course and pick-up right where you left off
  • No additional shipping fees

Learn more about accessing your course. 

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:


Ordering and Returns

Satisfaction Guarantee

If you are not 100% satisfied with any ACFE product, you may return it to us, provided it is in excellent condition, for a full refund of the item minus the cost of shipping. Toolkits and bundles may only be returned as a complete set.

Ordering & Returns Policy