Course

Course Summary

Credit Type:

Course

ACE ID:

YRUP-0021

Organization's ID:

FIN 250

Organization:

Year Up

Location:

Classroom-based

Length:

7 weeks (37 hours)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	Principles Of Banking or Banking and Risk Compliance

Competency Framework	Statement
Finance Industry	Understands the appropriate procedures for fraud investigations and internal audits as they relate to detecting and reporting of fraudulent behavior
Finance Industry	Understands the appropriate procedures for fraud investigations and internal audits as they relate to detecting and reporting of fraudulent behavior
Finance Industry	Assess impact of government actions on business ventures

Description

Objective:

The course objective is to consider various scenarios and determine whether or not it is considered a money laundering red flag; take on the role as a report review or analyst and examine a due diligence report for logical and research-supported conclusions and completeness; take on the role of a bank secrecy act officer at an OCC regulated financial institution and a create risk rating forms for a personal and commercial account opening; run an OFAC search and identify whether a person/entity is potentially on a sanction list, conduct additional due diligence, and create a report of findings; and evaluate suspicious activity report (SAR) case studies and identify common themes and red flags, and create financial institution scenarios in which a SAR may be submitted.

Learning Outcomes:

Practice key investigative activities including analyses of specific ML typologies, researching and presenting an investment vehicle or banking product that may be used in ML, acting out specific compliance and AML scenarios to demonstrate understanding
Describe the regulatory and financial environment and terminology pertinent to money laundering including the role of monetary policy, global business, and OFAC sanctions and anti-terrorist financing
Demonstrate understanding of AML in the banking environment, including the role of an effective compliance function, AML terms and acronyms, and banking products
Explore key investigative activities pertinent to money laundering process including common use of Excel for investigative activities and research, PEPs, SARs, red flags, and the process of successful due diligence