The Predicate Cause of Money Laundering: How Fraud and Money Laundering Work in Concert

Originally offered March 20, 2019

Duration: 50 minutes

CPE Credit: 1

Description: Today, we detect less than 1% of all the dirty funds that flow through our financial systems globally. Why? For starters, bad actors are sophisticated; they know how to cloak their activities and work hard to appear as normal, legitimate operations. They are well-resourced with deep investments in infrastructure, systems, and operations. In other words, they are run just like a multi national corporation. They work on two streams: revenue generation and money laundering.

Addressing fraud can substantially reduce your regulatory risk, reduce false positives and cut compliance costs. In this webinar, you will learn how transnational threat networks regularly launder funds through your financial institutions and how this illicit behavior can be detected and deterred. You will also learn how to use referential data sets to expose money laundering and leave with an understanding of the predicate cause of laundering.

Field of Study: Specialized Knowledge

Course Level: Basic

Prerequisite: None

Advanced Preparation: None 

Delivery Format: Group Internet Based

You Will Learn How To:

  • Recognize how prevalent money laundering is today
  • Discern how financial crimes can be detected 
  • Determine the predicate source of revenue of transnational criminal organizations
  • Differentiate fraud and AML in financial crime
    • Determine how advanced technologies and referential data can be used to improve AML detection

    Speaker:

    Debra Geister
    CEO
    Section 2 Financial Intelligence Solutions

    Gina (Scialabba) Jurva, Esq.
    Risk and Compliance, Legal Executive Institute
    Thomson Reuters


    Sponsored by Thomson Reuters

    Highly regulated firms rely on Thomson Reuters to identify the hidden risks of doing business with a customer or third party, and protect against regulatory and reputational risk. We provide Know Your Customer (KYC) and Know Your Third Party (KY3P) customer identification solutions for any market or organization — as well as capabilities for client onboarding, enhanced due diligence and transaction monitoring — leveraging leading products such as CLEAR and our newest solution, CLEAR Risk Inform. For more information, visit tr.com/clear.    

    Information you provide during the registration of this webinar will be provided to the sponsor, Thomson Reuters, and may be used to send you information, special offers or promotions from Thomson Reuters.