FINRA E-Learning Course Outline

Anti-Money Laundering—Institutional: Recognizing Red Flags (ELC144)
Course Length: Approximately 30 minutes

1.  Introduction

2.  Core Concepts

• Money laundering basics and background
• Customer identification program (CIP)
• Account verification
• Working with foreign customers
• Know your customer (KYC)
• Possible red flags: account opening and account monitoring
• Enhanced due diligence
• Willful blindness
• Penalties
• Protecting investors

3.  Scenarios

• Trusted Connections
  This scenario focuses on the requirement to know your customer and when to escalate possible red flags that are discovered during the account opening and the account monitoring process.
• A Delicate Balance
  This scenario emphasizes the importance of due diligence on any new account, even if it is for an existing customer. It also highlights the requirement to escalate suspicious activity in accordance with firm policy.

4.  Conclusion

5.  Optional Mastery Test