FINRA: AML—Retail: Customer Due Diligence

Course Description

FINRA’s anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. Scenarios review the importance of “knowing your customer,” with situations involving a newly referred client and a new account for the real estate LLC of a long-term client.

Learning Objective(s)

By taking this course, you will be able to:

  • Explain the purpose of your firm's AML program.
  • Describe the customer identification program (CIP) regulatory requirement when opening customer accounts.
  • Explain the importance of monitoring customer accounts to detect and report suspicious activity that might be indicative of money laundering and other criminal activities.
  • Identify "red flags" that may signal money laundering or other potentially suspicious activity.

Complexity

Intermediate

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