ACAMS Greater Twin Cities Chapter July 2022 Virtual Event: Afghanistan & AML Risk
ABOUT THE EVENT
With the Russian invasion of Ukraine, the situation in Afghanistan has been forgotten by many. However, terrorist financing is not only a focus of the regulators, but in June 2021, FinCEN issued their “Anti-Money Laundering and Countering the Financing of Terrorism National Priorities” one of which is foreign/domestic terrorist financing. Therefore, it is critical that BSA personnel focus on terrorist financing. This session will cover the terrorist financing implications of the Taliban taking control of Afghanistan. It will focus on where the Taliban is getting their funding and how financial institutions may be impacted. We will discuss the similarities and differences of money laundering and terrorist financing as well as some practical steps that financial institutions can take to help mitigate the risk of facilitating illicit movement of money.
Learning Objectives: This session is designed to enable attendees to:
- Understand the differences and similarities between money laundering and terrorist financing
- Understand the financial sources and means of funding for terrorist organizations
- Identify red flags of terrorist financing
- Identify and mitigate the risks of terrorist financing in their own financial institution
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Free
