​Anti-Money Laundering (AML) is an important topic that everyone in the financial industry must be familiar with. Money-laundering is a process whereby criminal and/or terrorist groups process money received from illegal or terrorist activities through the financial system in an effort to hide or mask the original source of the monies. Money-laundering has significant costs for the economy, the financial companies that provide legitimate products and services and for the financial professional that work in the industry.

This course provides a comprehensive overview of the money laundering process and details the methods used by money launderers, the effects of money laundering, who is vulnerable, and the measures that can and must be taken to help prevent the occurrence of money laundering.

You will learn about the role of:

• Insiders
• Structuring (smurfing) the funds
• Credit and debit cards
• Underground banking

The Financial Analysis and Transaction Reporting Center (FINTRAC), has developed guidelines for what types of activities must be reported and how they are to be reported. The guidelines covering suspicious transactions, transaction reports, and compliance are conveniently summarized within the course.

Both interesting and informative, this course presents a good introduction for those new to the financial industry and an excellent refresher for those that are experienced in the industry and require a refresher on AML.

Manitoba CE Credits: Entry of CE for the same course more than once may be permitted on an exception basis only. If an agent wishes to claim credit for a course more than once, the agent must contact Council for prior approval and provide written reasons. This review is subject to the individual course review fee of $50.