FINRA E-Learning Course Outline

Anti-Money Laundering—Institutional: Identification and Reporting Issues

 

Course Length: Approximately 30 minutes

 

1. Introduction
   
   
2. Core Concepts
   
   
   • Define money laundering
     
     
   • Client identification and verification
     
     
   • Know your customer
     
     
   • Due diligence
     
     
   • Economic sanctions
     
     
   • Recognizing suspicious activity
     
     
   • Reporting suspicious activity
     
     
   • Willful blindness
     
     
   • Penalties
     
     
3. Scenarios
   
   
   • The hedge funds
     
     
     • A registered representative opens three hedge funds and then observes transactions, which are not consistent with stated objectives
       
       
   • The soccer team
     
     
     • An existing client who is considering making a major acquisition, which would require following extra due diligence procedures, contacts a member of an investment banking group
       
       
   • The charity account
     
     
     • A long-time client of a registered representative is looking to open a charity account with a politically exposed person on the account
       
       
4. Conclusion
   
   
5. Optional Mastery Test