Anti-Money Laundering

Awareness Training

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View Course or Take Assessment In an effort to streamline Compliance Training for our

associates, you have the opportunity to demonstrate your current knowledge of the course content by completing the assessment upfront.

If you would like to move straight to the assessment without reviewing the content of the course, click the Take Assessment button

Please note that if you receive a score below passing (i.e. 80%), you will be required to review and complete the course content before attempting the assessment again.

If you wish to review the course material before attempting the assessment, click the View Course button. View Course Take Assessment

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Objectives

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Recognize key terms of Anti-Money Laundering regulations including the Bank Secrecy Act (BSA), Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT Act), and controls imposed by the Office of Foreign Assets Control (OFAC)sanctions regulations.

Understand XYZ Bank’s obligations under these regulations Identify how AML regulations impact business operations Recognize your duties under XYZ Bank’s AML Policy.

Introduction: Anti-Money Laundering

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Because money laundering techniques continue to evolve, there is no single method to detect it in banks and other financial institutions. There are, however, a variety of methods that can be used to identify and prevent money laundering, as well as procedures that must be followed to comply with reporting and record keeping requirements of AML laws, including the Bank Secrecy Act (BSA), the USA PATRIOT Act and other statues and regulations.

XYZ Bank’s AML Compliance Program defines: Procedures to follow when obtaining and verifying a new customer’s

identification

Activities that are considered suspicious, and Suspicious Activity Report (SAR) filing requirements.

Additional recordkeeping and other requirements under the BSA and USA PATRIOT Act.

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What is Money Laundering?

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Money Laundering is the process of concealing or disguising the existence, illegal source, movement, destination or illegal application of property or funds obtained from criminal activities and making them appear legitimate.

Most criminal activities are motivated by one thing; money. Money laundering occurs when and individual attempts to use money associated with criminal activity in a legitimate financial transaction

In its simplest definition, Money Laundering is the act of converting “DIRTY” money into “CLEAN” money. PREV NEXT

FAQs: Terrorist Financing

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Here are some important FAQs about terrorist financing.

Click the questions below to learn more. Click the Next button when you are done

1. How much money is needed?

2. Where do the funds come from?

3. What kinds of activities are involved?

4. What other organizations may be involved?

5. What other ways do terrorist organizations disguise their activities?

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Introduction:

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This assessment is a knowledge test that will measure your retention of the training content and materials

Duration: Approximately 10 minutes Mastery: An 80% mastery is required for

completion. You will receive your score immediately upon completion of the assessment.

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Click the Next button to continue. NEXT

Instructions

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The assessment is composed of the following item types: Multiple Choice: select one option. True/False: select one option

Click the Next button to begin

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Which is not a stage of money laundering?

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o Restitutiono Integrationo Layeringo Placement

SUBMIT

1 of 10

The Bank Secrecy Act requires banks to report transactions greater than _____

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o $ 15,000 USDo $ 2,000 USDo $ 5,000 USDo $ 10,000 USD

SUBMIT

2 of 10

Score

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You have completed the assessment. Your score is _____

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Thank you!

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Instructor-led training session

This session will includeSystems trainingRole-playingQuizzes, Question & Answers

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Systems training

Employees will be taught specific system skills.

Employees will be walked through the computer system that is used for AML procedures.

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Role-playing How to Use Role Playing

It is easy to set up and run a role-playing session. It will help to follow the five steps below. Step 1: Identify the Situation

To start the process, gather people together, introduce the problem, and encourage an open discussion to uncover all of the relevant issues. Step 2: Add Details Step 3: Assign Roles

Employees will act as employee and/or manager Step 4: Act Out the Scenario

Employee will be asked to file a SAR (Suspicious Activity Report) and explain to his manager. Step 5: Discuss What You Have Learned

Quiz, Questions & Answers

The session will end with an informal quiz about important terminology and procedures

Q & A session will conclude the training