Almost since the moment that the idea of money was invented, criminals have been coming up with various schemes to make their ill-gotten earnings look legal. Even before the early twentieth century, when Al Capone used actual laundromats to “clean” his dirty money, money laundering has been a big issue in America and across the world. Not only does it allow criminal industries to thrive (it’s literally the way they take money from illicit sources and reintegrate it into the main economy in a way that makes it hard to trace). But it also costs businesses between $800 billion and $2 trillion every year. It’s a big deal.
Don’t want your business supporting money laundering? We’re here to help. There are simple ways criminals can use today’s businesses to launder money that you may not notice, but there are also simple red flags to look for to help you spot and stop money laundering.
Our newest Grovo Microlearning® content from producer Zarif Taufiq will help you determine where money laundering might intersect with your business, give you red flags to watch out for, and help you fill out and submit a Suspicious Activity Report when you find something fishy. Specifically, this topic covers:
The Impact of Money Laundering: Learn what money laundering is, the impact it has on the economy and the world, and how your business might unwittingly be involved.
Catch Money Laundering in Action: Learn the three stages of money laundering and the red flags that indicate it might be happening, and how to report it.
Prevent Money Laundering: Learn how to put systems in place that make it hard for money laundering to occur.
Learn the basics about money laundering so you can keep yourself and your business clean. Get started with one of our lessons What Is Money Laundering?
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