Bank Secrecy Act for Managers: 01. Money Laundering Risk Factors

Assessing money laundering risk factors refers to instances in which extra due diligence is required to uncover patterns and evidence of money laundering. It's a tricky business and more of an art than a science. Thankfully, FinCEN, or the Financial Crimes Enforcement Network, has identified several risk factors that financial institutions should be on the lookout for to help identify money laundering schemes. In this course, we'll talk about these risk factors, which include high-risk organizations, geographic locations that raise red flags, and inconsistent customer activities that might raise concerns.