Money laundering
You'll learn what money laundering is, how it works, and why it matters to you as an accounting or finance professional. This lesson covers the three phases of money laundering—placement, layering, and integration—along with the key offences you need to know for your exam, including the critical duty to report
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In this lesson
- 0:00 Money laundering: definition and context
- 1:04 The three phases of money laundering explained
- 2:28 Practical example: laundering through a laundromat
- 3:45 Offences and maximum penalties
- 4:20 Failure to report: accountants' legal duty
- 5:38 Tipping off and defence against investigation
- 7:31 Money Laundering Regulations 2017 requirements
About this lesson
suspected activity to your nominated officer. Understanding these concepts is essential for Corporate and Business Law and protects you from serious legal consequences, including imprisonment, if you fail to report suspicions. You'll also discover the Money Laundering Regulations 2017 requirements that regulated businesses like accounting firms must follow, including client due diligence and the role of the money laundering compliance principal.
Duration: 9m
Transcript
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