A global defence and security giant – BAE Systems, has listed out six criminal types that are responsible for money laundering around the world. This is done so in hope to aid global businesses understand the motivations and modus operandi of criminals targeting their business and to help them fight the threats posed by financial crimes.
In today’s digital world, syndicates and criminals are constantly unravelling new channels and finding new loopholes to make the proceeds of crime look like legal tender. Money laundering accounts for RM8.46 trillion every year, and criminals are using more sophisticated method to disguise their activities.
In response to money laundering and terrorism financing threats, Malaysia has established a comprehensive legislation called AMLATFA (Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act) in 2001.
This framework covers the legal and regulatory framework; preventive measures for reporting institutions, financial intelligence unit and law enforcement agencies; and domestic and international cooperation.
Alongside with AMLATFA, the Malaysian authorities are constantly conducting ongoing investigations and regular raids related to these offences. Their series of raids have resulted in the arrest of 12 suspects, and more than RM18 million seized.
The fight against money laundering requires a combined effort between the financial services industry, government and technology and compliance specialists.
Government, banking and finance institutions, businesses need to understand the motivations and modus operandi of the masterminds of money laundering and terrorism financing, then are they able to successfully shield themselves against them.
In light of this, Opus Kinetic introduce Enhanced Assessment On Money Laundering And Terrorism Financing Risks. This is a course that aims to provide participants in the financing industry with operational knowledge for identifying and assessing money laundering and terrorism financing risks, acquiring information on the latest trend. It also helps them to understand the best practices in creating strategies and setting up effective risk-based compliance systems that are aligned with FATF recommendations and other international best practices. For more information, please visit us at http://www.opuskinetic.com/training or contact us at email@example.com.
Opus Kinetic believes that people are why organisations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house trainings, and many others professional training courses spanning from various industries. Our training courses are well researched and updated with the latest industry trends. For more information on our professional training programs, you can visit us at http://www.opuskinetic.com/training.