Anti-Money Laundering And Counter-Terrorism Financing Course
An anti money laundering and counter terrorism financing course covers two offences that are regulated together and behave very differently.
Money laundering takes money that came from crime and makes it look legitimate. The money is dirty at the start and clean at the end. Amounts are often large.
Terrorism financing can move money that was entirely lawfully obtained toward an unlawful purpose. Clean at the start, and the amounts can be very small.
That matters because staff trained only to watch for large or unusual sums will not recognise the second at all. Terrorism financing indicators sit in the pattern, the destination and the relationship rather than the value.
Any course covering only the first of the two has done half the job it was bought for, and the half it left out is the one with the more serious consequences attached.
AUSTRAC publishes guidance for reporting entities. This is general information rather than legal advice.
See Sentrient’s AML/CTF course and workplace compliance courses.
3 Biggest Impacts of Money Laundering
Introducing illegally obtained funds into the stream of legitimate commerce and finance allows criminals to profit from their illegal activity, undermines the financial system, and erodes public trust. 1. Supports criminal activity When criminals profit from illegal activities, they can invest more money into the black-market economy and enable more crimes to be committed. As […]
The 6 Ways That Money Is Laundered
Criminals use diverse methods to launder money which is the proceeds of crimes such as drug trafficking, terrorist activities, and tax evasion. As with other criminal activity, these methods are used to sidestep regulatory and law enforcement measures and to exploit current and emerging channels. 1. Banking system The major channel for money laundering is […]
The 6 Ways That Terrorism Is Financed
How is terrorism financed? A number of channels are likely to pose an increased risk of being misused for terrorism financing. One significant difference between terrorism financing and other crime types is that most terrorism financing in Australia originates from legitimate sources and activities. 1. Banking and remittance Banking and remittance use bank, interbank and […]
New Compliance Course Released – Anti Money Laundering and Counter Terrorism Financing Training
Sentrient is proud to release the new online anti-money laundering (AML) and counter terrorism financing (CTF) course as its latest online course that forms part of a fast-growing and comprehensive suite of online workplace compliance courses for organisations with employees, contractors and volunteers who are based in Australia, New Zealand, Singapore, USA, Canada, UK, and […]
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