Europe Anti-Money Laundering (AML)

Objectives

On completion of this tutorial, you will be able to:

  • Define money laundering and list its stages

  • Define terrorist financing

  • Recognise the laws and regulations in relation to money laundering and terrorist financing

  • Identify the responsibilities of the various participants

  • List the systems and controls a firm should employ in relation to managing financial crime risks

Tutorial Overview

The growth in international crime and terrorism has seen greater efforts by criminals to unearth new ways of integrating their illicit funds into financial markets. Financial centres are the target of lucrative, highly-skilled organised crime networks that range from small local gangs to large trans-regional operations with the sophistication, organisation and facilities of a major corporation.

Identifying and bringing to justice those who help launder illicit funds is a priority for both governments and financial markets regulators. You have an important part to play in this work – ignorance is no longer a valid form of defence. The penalties for non-compliance can include a fine and/or a custodial sentence.

Prerequisite Knowledge

None

Tutorial Level

Introductory

Tutorial Duration

70 minutes