Money Laundering- How it works?

Dr. Robert Minniti

Minniti CPA LLC

Friday, April 23, 2021 | 03:00 PM EST

  • CPA

2 CPE

$20

Subject Area

Auditing

Webinar Qualifies For

2 CPE credit of Auditing for all CPAs

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

We have all heard of money laundering but did you ever wonder how it works? This CPE webinar is designed to review the issue of money laundering.

Experienced instructor Robert Minniti will provide examples of actual money laundering cases during this two-hour CPE course so participants can understand how these frauds are being committed and how they were uncovered. We will review various methodologies for detecting money laundering schemes and will discuss developing internal controls to help prevent and detect money laundering schemes. We will review some of the legal issues involved in money laundering and how this could affect your business.

Topics Covered

  • The Elements of Fraud
  • 3 Steps of Money Laundering
  • Examples of actual money laundering cases
  • SARS and CTRs
  • IRS Form 8300
  • CMIRs
  • Money Laundering Schemes and  Vulnerabilities
  • Crypto Currencies
  • Cash-Based Businesses
  • Gems, Metals & Collectables
  • Prepaid Credit & Debit Cards
  • Real Estate- Cash Purchases
  • Consulting Services
  • Shell Companies
  • Foreign Money Transmitters
  • Fictitious Loans
  • Structured Deposits/Payments
  • Hawala
  • Round‐Tripping
  • Money Laundering in the News & Laws
  • BSA/AML Internal Controls

Who should attend: 

CPAs, CFEs, CFFs, MAFFs, CGMAs, CMAs, CIAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.

Learning Objectives

  • To differentiate Congressional acts and how they apply
  • To identify which AML programs must be in writing and include
  • To differentiate ways to launder money
  • To recognize how to design internal controls to prevent and detect money laundering
  • To identify the steps in the money laundering process
  • To differentiate IRS forms used to report cash payments
  • To recognize which states legalized digital currencies and passed associated regulations
  • To describe when money laundering was originated
  • To differentiate types of illegal activities
  • To describe money laundering types

Who Should Attend?

  • Accountant
  • CFO/Controller
  • Business Owner
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Young CPA
  • Senior Accountant
  • CEO
  • Accounting Managers
  • Staff of Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers