Understand Finance to Signal Money Laundering (KYC & CDD)
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- Curriculum
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This course helps you to expose criminals that use companies to manipulate financial information in annual accounts disguising the illegal source of the funds to whitewash the proceeds.
You don’t have to be an accountant or financial expert to understand information in annual accounts. Finance is not rocket science! This course is designed for participants that have no or limited financial knowledge.
If you work or plan a career in the anti money laundering field, for example as Know Your Customer or Customer Due Diligence professional, this course might be for YOU!
After completion of this course you:
- Understand financial information in annual accounts
- Can signal red flags that can indicate manipulation of financial information to launder criminal proceeds
- Are supported to make a risk assessment to decide if further client investigation is necessary to expose money laundering
This course contains almost 1,5 hour of video’s presentations and 39 multiple choice questions to test and enhance your knowledge. There are three sections with in total 16 lectures and 9 quizzes.
Section 1 is an introduction to the annual account.
- You will learn about accounting categories and regulations.
- Also, you get an overview financial information of a balance sheet, income statement and cash flow statement.
Section 2 offers you more in-depth knowledge to understand and analyse a balance sheet.
- You will understand the difference between equity and liabilities, depreciation and valuation of long term assets, liquidity and solvency.
- This part contains practical examples of money laundering constructions using equity and loans, off shore structures, the VAT carousel, property flipping and asset value manipulations.
- Red flags examples help you to recognize potential criminal activities to support you to ask further questions for investigation.
Section 3 focuses on the income and cash flow statements.
- You will learn the basic accounting principles to calculate earnings before interest and taxes (EBIT) and to understand the difference between revenue and cost with receipts and payments.
- Practical examples illustrate how the income statement and cash flows impact the balance sheet.
- Finally, this part enable you to spot red flags for possible illegal transaction, such as trade based money laundering by over- and under invoicing, phantom shipping, multiple invoicing and asset valuation manipulation.
You can preview the free accessible parts and the course program before you decide to enrol.
If you have further questions, please don’t hesitate to send me a message.
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1
Introduction to financial informationThis first part is an introduction to present a general overview.
I will introduce the users of financial information in connection to the objectives of accounting, regulations and the essential documents of an annual account.
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2Financial information types, use, documents and regulation: introduction
These questions test your basis knowledge of financial information as presented in the introduction lecture.
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3Balance sheet information and structure
In this part you will learn more about the credit side of the balance sheet.
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4Balance sheet structure
Quiz about the structure and information on the balance sheet.
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5Equity and AML
To start you will learn about creating equity by issuing shares, retained earnings, dividend and decision making power.
After introducing Ultimate Beneficial Ownership, an example will illustrate how to launder money in practice.
Finally, you will learn more red flags that signal potential money laundering using equity
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6Shares and red flags to signal potential money laundering with equity
Test you knowledge about the balance sheet equity part lecture
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7Annual account balance sheet credit side: funding by loans
This section is an introduction to funding by loan liabilities. You will learn the difference with equity, how loans are recorded on a balance sheet and credit risk assessment factors that influence interest, such as maturity, collateral, seniority and solvency.
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8Loans on the credit side of the balance sheet
TTest you knowledge about loans speciation’s, such as credit risk
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9Balance sheet liabilities: Loan structures and money laundering
Loan structures are widely used to launder criminal funds by disguising the criminal origin of the funds. This section explain two of the most used loan structure to integrate criminal funds: (1) the Loan-back structure; (2) the Back-to-back loan structure.
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10Loan constructions for money laundering
Test you knowledge about loan structures to launder money
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11Balance sheet liabilities red flag signals for potential money laundering
This part summarize what you learned about the annual account balance sheet liabilities. In this final section, examples of red flags to signal potential money laundering will enable you if you want to ask further questions to investigate potential criminal activities.
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12Further introduction to assets
This lecture is a further introduction to the left section of the balance sheet, the debit side, where the assets of a firm are recorded on a specific date.
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13Current assets: liquidity analysis (ratio’s) to signal money laundering
This lecture explains how to assess the liquidity of a company and to signal potential money laundering by analyzing liquidity using ratio’s.
Further, VAT is introduced using examples as preparation for the next lecture.
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14Assets, liquidity and VAT
Test you knowledge assets and liquidity red flags
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15VAT carrousel fraud
After a short animation to explain the structure and operation of a VAT carrousel fraud, examples illustrate to signal potential VAT tax fraud.
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16Valuation of long term assets on the debit balance sheet (depreciation)
This lecture is an introduction to the valuation of term assets on the debit side of the balance sheet. According to accounting standards, the book value of an asset is calculated by depreciation. After this lecture you understand basic depreciation techniques to calculate and what other factors can influence asset valuation.
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17Fixed asset valuation and depreciation
Test you knowledge to calculate the value of fixed assets
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18Long term assets money laundering: property flipping and red flags
In this final lecture about the balance sheet debit side, an example of property flipping illustrates money laundering in practice. To enable you to ask questions when analyzing the balance sheet for further investigation of potential money laundering, additional examples of red flags are planted.
