S9 E01: Money Laundering – The Hidden Trail

Increased risks of fraud scams leading to money laundering have intensified as we step further into the digital era. As our financial institutions become more digitized, so increases a fraudster’s ability to generate and move illicit funds anonymously and instantaneously.

What is money laundering? How has it evolved? How can it affect you? In this episode, we dive into the complexities of money laundering, exploring its impact on society, businesses, and individuals. We will also discuss governmental measures and initiatives to counteract these challenges and how you can report suspicious financial activities.

Join Terence Karacsony, CPA, CA, CFF, MFAcc Senior Manager in the Valuations, Forensics and Litigation Support practice of the Winnipeg Office of MNP LLP and Sarah Mulhall Director, Regulatory Affairs and Public Interest at CPA Canada, as we discuss the multifaceted landscape of money laundering, its consequences, and the collaborative efforts necessary to address this global issue.

Key Takeaways:

1. Learn and understand the methods of money laundering and its illicit origins.
2. Explore how the evolution of technology can be both exploited and used as a preventative tool against money laundering.
3. Understand the role of financial institutions, businesses and CPAs in detecting, mitigating and preventing money laundering.
4. Discover how money laundering affects business, society and everyday Canadians.
5. Understand the importance of reporting suspicious activities and why individuals must report such behaviour.

Resources:

• Anti-Money Laundering Resources
• Anti-Money Laundering Policy
• The CPA’s Role in Fighting Corruption and Money Laundering – Foresight: The CPA Podcast, Season 2, Episode 8
• A Governance Framework for Anti-Corruption and Responsible Business

Other:

• AML Rules: Why You Need to Know the Meaning of Non-Compliance
• Guide to Comply with Canada’s Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) Legislation

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The views expressed by our guests are theirs alone and not necessarily the views of CPA Canada. This is a recorded Podcast. The information presented is current as of the date of recording. New and changing government legislations and programs may have come into effect since the recording date. Please seek additional professional advice or information before acting on any podcast information.