Anti-Money Laundering

Step Type: Text

​What learners will learn: What AML is and why it is important.

Step Description:
AML is essential for safeguarding financial systems and ensuring compliance with regulations. In this step, we’ll explore the basics of Anti-Money Laundering (AML), a crucial process that helps prevent the illegal practice of disguising the origins of money obtained through criminal activities.

Summary of Content:
Anti-money laundering (AML) refers to laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. AML regulations require financial institutions to follow strict rules to avoid aiding in money-laundering. The process of money laundering involves concealing the nature or source of illegal funds through a cycle of transactions. Financial institutions must monitor customer activity, verify sources of large deposits, and report cash transactions over $10,000, while also ensuring clients are aware of AML laws.

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Step Type: MultiChoice

​What learners will learn: How AML is defined

Step Description:
Now that you know what AML is and why it's crucial for financial institutions, let's test your knowledge of its definition.

Summary of Content:
This step presents multiple-choice questions to reinforce learners’ understanding of AML definitions and objectives. It examines how AML regulations function and the terminology used to describe money laundering and its prevention.

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Step Type: Streak

​What learners will learn: The AML rules and regulations that financial institutions must follow.

Step Description:
What are the key AML rules and regulations? In this step, we'll cover the essential compliance requirements for financial institutions.

Summary of Content:
This step highlights the compliance expectations placed on financial institutions under AML regulations. Learners will examine how criminals exploit the financial system and the specific duties banks must perform to detect and prevent such activities.

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Step Type: Text

​What learners will learn: The three stages of money laundering.

Step Description:
Money laundering involves three stages. In this step, we'll learn about these stages and what they entail.

Summary of Content:
Money laundering occurs in three stages: placement, layering, and integration. In the placement stage, illicit cash is introduced into the financial system, often through smuggling, false invoicing, or cash-based businesses. The layering stage involves complex financial transactions and international movement of funds to obscure the audit trail and sever ties to the original crime. Finally, in the integration stage, the laundered money is returned to the criminal through seemingly legitimate sources such as property or luxury purchases, allowing it to be used without attracting law enforcement attention.

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Step Type: Streak

​What learners will learn: The first stage of money laundering

Step Description:
The first stage of money laundering involves placement. In this step, we'll review what Placement involves.

Summary of Content:
Placement refers to the initial entry of illegal funds into the financial system. Criminals attempt to deposit "dirty" cash through various methods without attracting suspicion. This stage is the most vulnerable to detection and often involves tactics like smurfing, false invoicing, and use of cash-intensive businesses.

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Step Type: MultiChoice

​What learners will learn: How money launderers pull off the layering stage.

Step Description:
The second stage of money laundering is layering. In this section, we’ll explore what layering is and how money launderers execute this critical step.

Summary of Content:
Layering involves creating a complex web of transactions to distance illicit funds from their source. This stage may involve transferring money internationally, manipulating investments, and exploiting loopholes in the financial system. The goal is to obscure the audit trail and make the origin of the money difficult to trace.

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Step Type: True or False

​What learners will learn: What happens during the integration/extraction stage.

Step Description:
The final stage of money laundering is integration, also known as extraction. In this section, we'll sort out the true and false details of this crucial phase.

Summary of Content:
Integration is the final stage of money laundering where illicit funds re-enter the economy as seemingly legitimate assets. Criminals may use luxury purchases or investments to complete the process. This stage is the hardest to detect as the funds often appear clean and legally obtained.

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Step Type: Scenario

​What learners will learn: Money laundering in action.

Step Description:
Stacey wants to test you on the three stages of money laundering (placement, layering, integration), but with a twist: you'll both be playing the part of financial fraudsters! Guide Stacey by answering her questions with the BEST option, and show what you know about money laundering!

This scenario has several correct answers for each question, but only the BEST answers will give the most points. Pay attention to your answers and consider what the questions are asking!

Summary of Content:
This branching scenario tests your ability to recognize and respond to real-world laundering tactics across the three main stages. Learners will take on a playful yet educational role, answering questions to prove their understanding of placement, layering, and integration.

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Step Type: Crossword

​What learners will learn: An overview of the AML course

Step Description:
Let's test your mastery of the AML course and its key terms with this fun crossword game!

Summary of Content:
This final step offers a crossword puzzle to reinforce key terms and concepts from the AML training. Learners must recall definitions, stages, and compliance rules to complete the challenge, helping to solidify their learning in a gamified way.

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