Money laundering is a matter of serious concern in most countries of the world. Its strong link with drug-related activity and terrorist violence make it a potent combination. Funding is the lifeblood of such activities, because none of this can happen without sound financing.
As perpetrators assail every loophole in the financial system to transfer funds illegally for abetting such acts, the banking system cannot hope to contain these nefarious activities unless it wakes up and adapts modern methods.Most banks have implemented software which throws up red flags whenever there are unusual or suspicious transaction patterns. However, this is not sufficient, as perpetrators are aware of this and outsmart the system. It is all about who outmaneuvers the other.evolution-bank-secrecy

Anti-money Laundering (AML) and Bank Secrecy Act (BSA) are two of the recent regulations aimed at containing money laundering. How should banks and financial institutions implement these regulations? A webinar from Traininng.com, a leading provider of professional training for all the areas of regulatory compliance, will explain this in detail.
At this webinar, which is being organized on October 22. Traininng.com brings Jim George, an independent consultant to banks who focuses on issues of fraud, will be the expert. Please enroll for this session by visiting https://www.traininng.com/webinar/bank-secrecy-act:-the-fundamentals---c... .

At this webinar, Jim will explain all the aspects of money laundering prevention, such as how to comply with regulatory requirements, how to design controls and compliance, how to detect money laundering attempts, the ways of managing the Investigating of AML alerts, the methods of analyzing controls improvement options, and understanding money launderers' strategies and techniques.
He will cover the following areas at this webinar:
The Bank Secrecy and USA PATRIOT Acts
Know Your Customer (KYC)
Currency Transaction Reports (CTRs)
Suspicious Activity Reports (SARs)
New Customer Due Diligence requirements
Steps are specifically required by the regulations
Analytic engines
AML and Fraud overlaps
Adaptation by perpetrators
False Positive Problem
The New Customer Due Diligence requirements
Three covered entity types
Customer legal entity
Beneficial owners
Controlling persons
Exclusions
New Requirements
Risk profiles
Updating
Baseline/normal transactions
Transaction monitoring
Money Laundering Strategies and Techniques

Author's Bio: 

In his over 25 years as a consultant to major banks, Jim has carried out projects in fraud investigation, fraud prevention, identity issues, compliance and Anti Money Laundering (AML). His background includes work in bank operations and payments strategy, reengineering, systems and quality improvement.