The Basics of Money Laundering
RVACFES 54 – The Basics of Money Laundering – 2 CPE – To purchase this lecture add it to your Cart and follow the on-screen instructions …
Money laundering refers to the process of concealing the source of legally, illegally, and dubiously obtained monies. As such, it is one of key areas of practice focus for Fraud Examiners and Forensic Accountants. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount of money laundered, either worldwide or within their national economy. In 2009 the International Monetary Fund estimated that two to five percent of the worldwide global economy involved laundered money. However, the Financial Action Task Force on Money Laundering (FATF), an intergovernmental body set up to combat money laundering, admitted that “overall it is absolutely impossible to produce a reliable estimate of the amount of money laundered and therefore the FATF does not publish any figures in this regard”. It is vital that all CFE’s be intimately familiar with the general processes involved in this most complex fraudulent criminal practice.
100 minutes of self study plus 10 minutes to answer 10 questions for a total of 110 minutes.
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