Money Laundering

Author: Robert K Minniti

CPE Credit:  2 hours for CPAs

Spot Money Laundering Clues and Devise Effective Internal Controls
We have all heard of money laundering but did you ever wonder how it works? This course is designed to review the issue of money laundering.
Learn From Actual Case Studies
Experienced instructor Robert Minniti will provide examples of actual money laundering cases during this two-hour CPE course so participants can understand how these frauds are being committed and how they were uncovered. We will review various methodologies for detecting money laundering schemes and will discuss developing internal controls to help prevent and detect money laundering schemes. We will review some of the legal issues involved in money laundering and how this could affect your business.

Publication Date: August 2018

Designed For
CPAs, CFEs, CFFs, MAFFs, CGMAs, CMAs, CIAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.

Topics Covered

  • Examples of actual money laundering cases
  • The Elements of Fraud
  • 3 Steps of Money Laundering
  • SARS and CTRs
  • IRS Form 8300
  • CMIRs
  • Money Laundering Vulnerabilities
  • Money Laundering Schemes
  • Crypto Currencies
  • Cash Based Businesses
  • Gems, Metals & Collectables
  • Prepaid Credit & Debit Cards
  • Real Estate- Cash Purchases
  • Consulting Services
  • Shell Companies
  • Foreign Money Transmitters
  • Fictitious Loans
  • Structured Deposits/Payments
  • Hawala
  • Round‐Tripping
  • Money Laundering in the News & Laws
  • BSA/AML Internal Controls

Learning Objectives

  • Differentiate ways to launder money
  • Recognize how to design internal controls to prevent and detect money laundering
  • Identify the steps in the money laundering process
  • Differentiate IRS forms used to report cash payments
  • Recognize which states legalized digital currencies and passed associated regulations
  • Differentiate Congressional acts and how they apply
  • Identify which AML programs must be in writing and include
  • Describe when money laundering was originated
  • Differentiate types of illegal activities
  • Describe money laundering types
  • Identify examples of internal controls

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $55

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