Anti-Money Laundering: Establishing a Compliance Program | CPDFormula by learnformula
Anti-Money Laundering: Establishing a Compliance Program
In this session, we will delve further into some of the legislation and compliance needs that focus on establishing a strong Anti-Money Laundering program.
schedule2h
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Lynn Fountain
•
186 Courses
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Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditi...
About this course
Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Anti-money laundering laws cover a limited range of transactions and criminal behavior, but their implications are far-reaching.
Measuring the current scale of money laundering is extremely difficult. The World Bank (WB) and International Monetary Fund (IMF) have estimated the volume of money laundering to be between 3% and 5% global (GDP), equivalent to approximately US $2.2T to US $3.7T annually. According to the U.S. Department of the Treasury, more than US $300B is laundered in the United States annually.
In this session, we will delve further into some of the legislation and compliance needs that focus on establishing a strong Anti-Money Laundering program.
Field of Study: Specialized Knowledge