New Scrutiny on Money Laundering

New Scrutiny on Money Laundering

Assessment

Interactive Video

Business

University

Hard

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The video discusses the impact of the Pandora Papers on financial institutions, focusing on how they handle negative news and regulatory obligations. It covers the Anti Money Laundering Act, highlighting its components like the corporate ownership database and whistleblower program. The discussion extends to risk assessment priorities, including cyber crime and domestic terrorism. The video also addresses the compliance challenges posed by virtual currencies and the implications of the beneficial ownership registry. Audience questions explore the role of FinCEN and the new AML law's specifications.

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4 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

How do virtual currencies present unique risks for financial institutions?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What challenges might arise from the implementation of the new anti-money laundering regulations?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What steps should financial institutions take to prepare for the new whistleblower program?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

In what ways can financial institutions enhance their compliance programs in light of the new law?

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