Minnesota Society of Certified Public Accountants

1650 West 82nd Street, Ste 600
Bloomington MN 55431
Ph: 952-831-2707 Fax: 952-831-7875
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22WA-4012: Accountant's Guide to Anti-Money Laundering (AML): People, Patterns and Prosecutions (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Thursday, December 22, 2022

Time 8:00am - 9:55am
Central Time

Location Online

CPE credits CPE 2.0

Field(s)
of study Regulatory Ethics - Technical (2.0)

Specialty
credits 2.0 Ethics

Instructor Albert Spalding, CPA, JD, Ph.D.
Mike Ilitch School of Business, Wayne State University

Fees

Standard Member Fee	$79.00
Standard Nonmember Fee	$79.00

Description

There is an increasing expectation that accountants should be alert to red flags that point potential money laundering situations, even if they are not specifically tasked with monitoring AML compliance. The General Standards Rule of the AICPA Code of Professional Conduct, for example, implies that an alertness to such red flags is a matter of diligence, due care and competence. This workshop unpacks AML compliance requirements from an ethics perspective and considers real world cases involving accounting and financial professionals' responses to AML red flags.

Who should take this program?

All financial and accounting professionals

Major subjects

Prevalence and Impact of Money Laundering
When CPAs Launder Money
Detection of Money Laundering, Part I
Banks and Financial Institutions
The Connection between Money Laundering and Fraud
Accountant's Duty to be Alert to Fraud and Money Laundering
Detection of Money Laundering, Part II
Other Organizations (Example: Casinos)
Detection of Money Laundering, Part III
Other Organizations (Example: Health Care / Health Insurance)
Summary and Conclusion

Learning objective(s)

Provide a working definition of money laundering (ML) and list the basic elements of ML.
Develop a greater awareness of the prevalence of ML and the global efforts to prevent it.
Draw a connection between money laundering and fraud. Point to various "red flags" common to both money laundering and fraud and describe the ethical duty of accountants to be alert to such red flags.
Analyze real-world cases involving money laundering red flags.