Bank Secrecy Act for Managers: 03. Wire Transfers and Money Laundering
5 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
Most money now moves electronically rather than as cash, and criminals exploit that speed to launder funds during the layering stage of money laundering.
What this course covers:
- How electronic and wire transfers have replaced cash
- The role of wire transfers in the layering phase of laundering
- How criminals exploit transfer systems
- Staying vigilant against wire-based money laundering schemes
Ideal for banking managers overseeing wire operations and BSA/AML risk.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
The course explains how electronic and wire transfers have replaced cash, and how criminals exploit that speed to launder funds faster than before, giving managers context for why wire oversight has become a growing priority.
This module covers the role of wire transfers in the layering phase of laundering, connecting an earlier laundering-stage concept from the Basics series to a specific transfer method managers are likely to encounter directly on the job.
The course explains how criminals exploit transfer systems, giving managers insight into tactics used to move illicit funds through wire channels quickly and across multiple accounts before an institution can react to the activity in time.
Learners are guided on staying vigilant against wire-based money laundering schemes, turning the tactical explanation into an ongoing oversight practice managers can apply when reviewing wire activity across their institution's accounts on a regular basis.
This course is ideal for banking managers overseeing wire operations and BSA/AML risk tied specifically to electronic funds movement, rather than the cash-based scenarios covered in the earlier BSA Basics course series on money laundering.
