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Money Laundering
Legal Duty
Money laundering is among the most important issues facing law enforcers and regulatory authorities today. This includes the criminal use of the world's banking systems to hide and disguise the provenance of ill-gotten gains.
The new laws which seek to prevent just such events are issues which all financial practitioners now have to consider when they take on new business.
These are now legal requirements in most developed countries, they are not optional extras and they must be recognised.
An Understanding
The act of 'money laundering' is the process whereby the proceeds of criminal activity, whether from drug trafficking, terrorist activity, traditional criminal activity such as theft, robbery or extortion, or fiscal offences, including tax and other forms of unlawful revenue evasion, are disguised and given a new provenance, thus hiding their original source from the attentions of law enforcement agencies.
How to Avoid?
Training staff to recognise potential money laundering, and to be pro-active in their due diligence procedures, is now a mandatory requirement in many countries.
OVAG can provide a full range of training which will enable your staff to be able to comply with all the international requirements designed to prevent and forestall money laundering:
• Basic training
• Advanced training
• The implications of US legislation
• Local legislation - compliance analysis
• Do you really know your customer?
• Money laundering through the securities and derivatives markets
• Money laundering through the insurance industry
• Identifying terrorist funding
• Specialist 2-day high-level course for senior anti-money laundering professionals
• Understanding financial crime - a specialist course designed to explain the issues underpinning fraud and financial criminality
All specialist courses are tailored to individual client's needs. |
