Money Laundering: Schemes and Detection Methods ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
There are many ways in which money can be diverted in order to obscure its origins and avoid paying taxes. In this course, we cover many of the techniques being used to launder money, while also providing an overview of the methods used to detect its existence and build a case against money launderers. The course also describes the essential points of the United States legislation being used to grapple with the problem, and the reporting systems in place to highlight where money laundering may be occurring.
Highlights
The concept of money. Money laundering schemes. Asset concealment. Acts pertaining to money laundering. Financial crimes enforcement network. Reporting requirements intended to detect money laundering. Suspicious activity report. Report of foreign bank and financial accounts. Report of cash payments over 10,000 received in a trade or business. Detection of money laundering.
Prerequisites
None.
Designed For
CPAs, auditors, accountants, controllers, and financial professionals.
Objectives
Recognize the types of businesses from which money laundering operations can most easily be run. Describe the different types of money laundering schemes, how they operate, and their tax effects. Specify the types of actions a money launderer may take to move cash into or out of his home country. Describe how the black market peso exchange operates. Describe the activities of the Financial Crimes Enforcement Network. Specify how a person might avoid the reporting associated with a large currency transaction. Recognize the actions that might trigger the filing of a financial notification report. Describe the different activities that can be used during a money laundering investigation to collect information, and the ramifications of each one. Specify the types of investigations that can be conducted to estimate a person’s income.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00