Certified Financial Planners (Understanding Risks)

Legitimate products and services can be used to mask illegal origins of funds, to move funds to finance terrorist acts, or to hide the true identity of the actual owner or beneficiary of the product or service.

This training program is designed to provide Certified Financial Planners with information about the risks your products and services may create and the opportunities they may provide for money launderers and terrorist activity financing.

Objectives:

• About Money Laundering & Terrorist Financing
• Inherent Risks
• Schemes
• Know Your Client Define money laundering and terrorist financing;
• Identify some common impacts of money laundering;
• State some common sources of terrorist financing;
• Have a better understanding of some of the inherent money laundering risks and schemes associated with financial planning and investment products and services;
• State the importance of “Know Your Client” rules as they relate to anti-money laundering and terrorist financing initiatives; For reporting entities, identify the three methods to ascertain the identity of individual customers, as required under the June 2016 amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations; and
• For financial entities, securities dealers, money service businesses, and life insurance companies, brokers, and agents, identify the new obligations related to politically exposed persons and heads of international organizations.

Upon successful completion of Certified Financial Planners: Understanding Risks, you will receive:

• a certificate of program completion documenting your understanding of the risks your products and services may provide for money launderers and terrorist activity financing;
• 3 CAMLI Continuing Education (CE) hours that can be used for qualification or maintenance of CAMLI designations.