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Fraud and Money Laundering: How Are they Connected?
Original Broadcast Date:
Wednesday March 25th , 2009
Fraud is probably the most common crime faced by Canadian financial institutions and is a primary focus of most financial institution security departments. An increasing number of large frauds, scams, and schemes are resulting in the misappropriation of billions of dollars from unsuspecting victims.
In Canada, the law states that money generated from fraud is 'proceeds of crime' and the methods used by criminals to conceal that money is considered money laundering. As a result, any comprehensive fraud prevention program must account for possible money laundering activity. This webcast seminar provides compliance officers tasked with security responsibilities for crimes such as fraud with a solid foundation of understanding regarding the relationship between fraud and money laundering, navigating the complex processes involved with many fraud crimes.
One of the highest rated sessions at the Money Laundering in Canada 2008 Conference, Jeff Filliter's presentation received top marks for the helpfulness of the topic; the knowledge of the speaker; and the relevance to risks encountered today..