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5 CPD

Course overview

This course aims to describe and explain how money is laundered and analyze the complete money laundering process as well as the stages of the money laundering process. It also aims to explain why criminals need to place the cash into the financial system and to help participants to understand each stage of money laundering through examples of each specific case.

Course Description

This course provides the definition of Money laundering and explains the Money Laundering process. It analyses in detail by providing examples the three stages of Money Laundering, Placement, Layering and Integration. It provides statistics regarding the size of Money laundering as well as other useful statistics on Money Laundering, Financial institutions and Money Laundering Statistics and Cryptocurrency Money Laundering Statistics. It explains how money is laundered in each of the three stages and analyses in more detail Money laundering in real estates.

Topics covered

The course is split into the following sections:

Section 1: What is Money Laundering?

  • Definition of money laundering
  • Why criminals need to launder money
  • The size of money laundering & Statistics on Money Laundering
    • Financial institutions and Money Laundering Statistics
    • Cryptocurrency Money Laundering Statistics
    • Statistics on fraud across the world

Section 2: Stages of money laundering

  • The Money Laundering Process
  • The 3 stages of money laundering
  • How is money laundered? & Where does money laundering occur?
    • Example of Money Laundering through a Restaurant
    • Example of Money Laundering in real estate

Section 3: The first stage in the washing cycle – Placement

  • Why criminals need to place the cash into the financial system
  • Placement methods
    • Structuring (“smurfing”)
    • Disguised deposits
    • Use of monetary instruments
    • Shell companies
    • Inter- mingling
    • Assets purchases
    • Use of casinos-Gambling
    • Value Tampering
    • Redemption of life policy or similar investment

Section 4: The second stage in the washing cycle – Layering

  • Introduction
  • Layering methods
    • Electronic wire transfers
    • Monetary instruments
    • Loan Back
    • Tax Havens and Offshore Banks
    • Shell corporations
    • Walking accounts
    • Intermediaries
    • Security Broker – Dealer
  • Signs of Layering

Section 5: The third stage in the washing cycle – Integration

  • Introduction
  • Integration methods
    • Inheritance
    • Redemption of life policy or similar investment
    • Consultants
    • Corporate financing
    • Asset sales and purchases
    • Import/export transactions (Sham transactions)

Course Duration

This course may take up to 5 hours to be completed. However, actual study time differs as each learner uses their own training pace.

The course is addressed to:

This course is addressed to all individuals who practice Anti-Money Laundering such as:

  • Compliance/AML Managers in Banks, Investment Firms, Investment Funds, ASPs, Trust Service Corporate Providers and Lawyers.
  • Employees of Investment Firms, Investment Funds, ASPs, Trust Service Corporate Providers and Law Firms involved in KYC/CDD
  • Internal Auditors
  • Consultants
  • Senior managers
  • Directors

It is also suitable to professionals pursuing regulatory CPD in Anti-Money Laundering.

Training Method

The course is offered fully online using a self-paced approach. The learning units consist of power point presentations and case studies. Learners may start, stop and resume their training at any time.

At the end of each section, participants take a Quiz to complete their learning unit and earn a Certificate of Completion once all quizzes have been passed successfully.

Accreditation and CPD Recognition

The course can be accredited by regulators and other bodies for 5 CPD Units that require CPD training in financial regulation. The course may be also approved for up to 5 CPD Units by institutions that approve general financial and AML training, such as the CISI, ICA and ACAMS.

Eligibility criteria and CPD Units are verified directly by your association or other bodies in which you hold membership.

Registration and Access

To register to this course, click on the Take this course button to pay online and receive your access instantly. If you are purchasing this course on behalf of others, please be advised that you will need to create or use their personal profile before finalizing your payment.

Access to the course is valid for 60 days.

If you wish to receive an invoice instead of paying online, please Contact us by email. Talk to us for our special Corporate Group rates.

Instructor

George Papanicolaou has more than 20-years experience in the Financial industry. He worked for several years in managerial positions as area Manager, Head of Brokerage, Compliance Officer, Anti Money Laundering Officer, General Manager and Executive Director in Cypriot Investment Firms as well as Managing Director of GP GLOBAL LTD offering consulting services and training courses to Investment Firms, focuses in Internal Audit, compliance & AML issues. He offered numerous courses/seminars both in Cyprus and abroad in Investment Firms Law as well as in Compliance & Anti Money Laundering. George Papanicolaou is also a Chairman of a Nomination Committee in a company listed in the Oslo Stock Exchange.

George Papanicolaou holds a BSc in Electronic Engineering from the University of Texas at Austin (USA), an MBA with specialization in Finance from Leicester University (UK) and a Postgraduate Certificate in the Mechanics of Risk Management from Middlesex University (UK).

He also holds an ICA International Diploma in Anti Money Laundering from the International Compliance Association and the University of Manchester, as well as an Advance and Money Laundering certificate from the Cyprus Securities and Exchange Commission for the provision of investment services/activities.

He is a Fellow of the International Compliance Association (FICA), Mentor of ICA new students, member of the Cyprus Institute of Internal Auditors and Network chair for Cyprus of the International Compliance association.

See more Courses from George Papanicolaou

Course Description (click to download)