Dates and location
Hours
Dates and location
Hours
Description
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In this 60-minute audio learning session, we explore the FinCEN Files, one of the largest and most revealing money laundering scandals in recent history. The leak of over 2,100 Suspicious Activity Reports (SARs) exposed how major global banks were complicit in facilitating illicit financial flows to the tune of over $2 trillion. This case highlights systemic failures in anti-money laundering (AML) controls, the importance of reporting suspicious activities, and the global regulatory challenges in tracking money laundering activities.
Tailored for CPAs responsible for ensuring compliance and managing financial risks, this session explores the critical lessons from the FinCEN Files and how financial professionals can apply these lessons to strengthen their organizations' AML practices. The discussion includes practical insights on identifying red flags, conducting due diligence, and adhering to AML regulations to safeguard organizations and prevent financial crime.
Lesson Breakdown:
- Introduction to the FinCEN Files Case
- Understanding the Financial Institutions Involved
- Key Red Flags and Money Laundering Techniques
- The Role of CPAs in Preventing Money Laundering
- AML Compliance and Regulatory Oversight
- Steps for CPAs to Strengthen AML Controls
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Key Takeaways
Upon completion of this course, you will be able to:
- Recognize common money laundering techniques, such as complex financial transactions and shell companies, to identify suspicious activities.
- Identify red flags, like unusual transaction patterns and transactions involving high-risk jurisdictions, to detect potential money laundering risks.
- Understand your organization's compliance with AML regulations by reviewing internal processes, including KYC and reporting requirements.
- Assess and strengthen internal controls to improve AML practices and minimize the risk of financial crime.
Who Will Benefit
This audio learning session is designed for CPAs, particularly those involved in:
- Audit: CPAs conducting financial audits can gain valuable insights into how money laundering activities can affect an organization’s financial health and how to spot red flags during the audit process.
- Financial Oversight: Those in charge of managing an organization's financial risks will learn how to strengthen AML practices and ensure compliance with relevant regulations.
- Advisory Roles: CPAs providing advisory services will benefit from a deeper understanding of money laundering schemes and how to advise clients on best practices for preventing financial crimes.
How to Access the Course
New mobile learning! Download Blackboard Learn from your app store (iOS or Android). Learn more.
To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Wei Yang, MBA, FRM, is a seasoned and results-driven leader in business-technology transformation, with expertise in consulting, modernization, and change management. She has a proven track record in product development, strategic management, and program/project governance, particularly within the financial services sector, including capital markets, treasury, and wealth management. Currently, Wei serves as a director at Scotiabank, where she plays a key leadership role in shaping the bank’s global wealth management product strategy. In her previous roles, she led global engineering and consulting teams within capital markets, focusing on large-scale business platform modernization and driving innovation.