AML For Reporting Institutions and The Role of RegTech in Combating Money Laundering by James Chin

Year after year, through the financial sector, hundreds of billions of dollars of illegally derived money are laundered through financial institutions such as consumer banks and investment banks. Besides hiding the revenues of illegal activities, money laundering harms a country’s economy and pose many risks to businesses.

It is important for frontliners in Consumer Banks and Investment Banks to identify red flag indicators and suspected transactions and report them accordingly. Many a times, some form of investment may be made by the client in the process of money laundering in the layering stage. As such, it is important to establish a strong Customer Due Diligence at the point of establishing business relations. This course will cover various case studies in the money laundering process which involves various investment products.

This course will also cover the role and advantages of RegTech in combating money laundering in the financial system.

Learning Outcome