FINRA E-Learning Course Outline

Anti-Money Laundering—Retail: The Responsibility to Know Your Customer

Course Length: Approximately 30 minutes

1. Introduction
   
   
2. Core Concepts
   
   
   • Money-laundering basics
     
     
   • Customer identification program
     
     
   • Know your customer (KYC)
     
     
   • Politically exposed persons and non-cooperative countries
     
     
   • Identifying suspicious activity
     
     
   • Reporting suspicious activity
     
     
   • Other reportable activity
     
     
   • Structuring payments
     
     
   • Willful blindness
     
     
   • SAR-SF timing and confidentiality requirements
     
     
   • Penalties
     
     
3. Learning Scenarios
   
   
   • The variable annuity contract
     
     
     • A registered representative makes decisions regarding a new account opening for a newly referred client where proper CIP and KYC steps must be followed.
       
       
   • The real estate investors
     
     
     • A registered representative makes decisions regarding a newly opened brokerage account for a newly formed LLC by a long-time client.
       
4. Conclusion
   
   
5. Optional Mastery Test