How Money Launderers use Securities Houses and Funds Managers

includes alternative investment funds AKA "hedge funds"

Brokers and dealers in shares have much in common with funds managers including "hedge funds." Some people, e.g. Madoff, straddle both horses. Some are victims, some criminals, some resistant to regulation. For all and those that deal with them.



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About this module

1. Summary and setting the scene for how money launderers target people like you.

2. Definitions applicable to this sector

3. Your industry: specific risks with case studies

4. Your job: specific risks with case studies

5. Test

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In this Module

  1. 1
    • Caveat and Legal

    • Status of this course

    • Copy of Pre-requisite

  2. 2
    • 1.1 What is money laundering?

    • 1.2 What is money?

    • 1.3 How could I be a money launderer?

    • 1.4 What are the obligations placed on your company to detect and deter money laundering?

    • 1.5 What does a money launderer want from me?

    • 1.6 What is a money launderer aiming to achieve?

    • 1.7 The three types of money laundering transaction

  3. 3
    • 2.1 Definitions

  4. 4
    • 3.1 Why do money launderers like the stock market?

    • 3.2 When should we do KYC / due diligence?

    • 3.3 High Risk customers

    • 3.4 We are an execution only broker and many of our clients are non-face to face. How do we deal with those?

    • 3.5 What happens if the business may be worth doing but the company's systems say that due diligence standards are not met.

    • 3.6 Applicants for business - expatriates.

    • 3.7 We do a lot of business through US broker dealers and with US "hedge funds". Are there any special risks?

    • 3.8 We deal with "hedge funds". What are they?

    • 3.9 Why won't US broker-dealers or "hedge funds" tell us who their investors are?

    • 3.10 We deal in US securities. Does that add to our risk?

    • 3.11 We don't have any US presence. So OFAC doesn't count for us, right?

    • 3.12 What source of funds should we consider suspicious?

    • 3.13 Unexplained funds in the hands of the customer.

    • 3.14 Criminal proceeds generated in your hands.

    • 3.15 Pump and Dump

    • 3.16 Other market manipulation.

    • 3.17 Insider trading / Insider dealing

    • 3.18 Other securities frauds

    • 3.19 The fund that wasn't a fund.

    • 3.20 Did terrorists plan a financial coup?

  5. 5
    • About examination

    • Examination: How Money Launderers use Securities Houses and Funds Managers.