Red Flags for Money Laundering

Live Webinar

  • 60 minutes
  • 35 Days Left
     May 05, 2020
  •   01:00 PM - 02:00 PM ET
    10:00 AM - 11:00 AM PT

Missing “Red Flags” indicating money laundering is taking place at your bank will cause failure to file required SARs, resulting in potential regulatory actions.  This is a look at money laundering detection from a different point of view.  Most bankers will go their entire careers without uncovering a case of money laundering.  It is hard to be on the lookout for something you have never seen before. 

Based on research, actual investigations, and 20 years in Miami banking, the following pages describe common laundering techniques and their Red Flags. If you see activity that looks like any of this, you have a Red Flag or high-risk transaction you will need to address.  We will also address how to go about that.

Join this session by expert speaker Jim George, he will discuss actual money laundering strategies and techniques.  And for each, what are the Red Flags such activities should raise?

Session Highlights:

  • Money laundering strategies and techniques. 

  • And for each, what are the Red Flags such activities should raise 

  • When you need to file a SAR 

  • What characteristics which can cause a transaction to be considered high-risk. 

  • We will look techniques for controlling and managing red flagged transactions 

  • We will discuss each of the end results that may occur: 

  • Weighing analytical engines 

  • Special reviews 

  • SAR 

  • End the customer relationship 

  • Section 314(b) sharing with other institutions.

Why You Should Attend:

Money laundering continues to be a national concern.  High levels of drug-related activity and violence have drawn additional attention.  Terrorist activities need to be considered as well.  Perpetrators have adapted to banks’ efforts so banks cannot combat the money laundering with yesterday’s methods. Software is widely installed to identify specific patterns and “unusual” transactions.  But the launderers know this and are constantly striving to create new patterns where their transactions are designed not to be flagged.  Like in a game of chess, the advantage goes to the side that thinks the most moves ahead. This topic focuses on the highest risk transactions and customers.

Who Should Attend:

  • Retail Banking

  • Compliance and AML areas

  • VP

  • Manager

  • Director

  • Supervisor levels

Advanced Preparation: None 

Program Level: Intermediate 

Prerequisites: None 

Field of Study: Finance 

You may ask your Question directly to our expert during the Q&A session. 

** You can buy On-Demand and view it at your convenience.

Jim  George

Jim George

Jim George is an independent consultant to banks focusing on issues of risk and compliance, AML, and fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, and IBM Consulting in Bank Risk and Compliance. Jim was the lead consultant to a major Federal Justice Department Taskforce investigating money laundering in Miami.

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Edupliance is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. 

Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151. 

PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks. 

Our registration number is 138832. 

Number of CPE Credits Awarded for This Course: 1.0 (Finance 1.0) 

Delivery Method: Group Internet Based

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