Money laundering subverts rule of law and undermines both economic and social development worldwide. International, regional, and national blocs are initiating strategies to prevent and combat money laundering in all its forms. Through the Lima Declaration which ensued from the 8th International Conference Against Corruption (IACC) hosted in Lima, Peru in 1997, the participants including heads of state, recommended the institution of strategies including legal framework to combat money laundering. Later in Maputo, Mozambique, in July 2003, the African Union member states adopted the African Union Convention Against Corruption with specific reference to money laundering. In the same context the World Bank has also stipulated strategies to prevent and combat money laundering which constitute focus for discussion.
WHO SHOULD ATTEND?
Managers, Auditors, Accountants, Investigators, Bankers, Law Enforcement Officers, Security Staff, Ethics Commissioners, Ethics Officers, Anti-corruption Bureau Officers.HOW PARTICIPANTS WILL BENEFIT
At the end of the course participants will be able to:
- Examine nature and impact of Money Laundering; Review international, regional
and national strategies, legal frameworks put in place;
- Assess the effectiveness or failure of the strategies - Causes for the success or
failure of the controls;
- Recommend economic, efficient and effective strategies to prevent occurrence or
- Definition and elements of money laundering, placement, layering and integration;
- Pervasiveness and insidiousness of money laundering, ascertainment of
organizational environment, establishing sources of information;
- Negative effects of money laundering;
- Principal, regulatory and institutional requirements;
- The role of oversight institutions including internal audit and compliance
- Planning investigation, and recommending improvements in institutional
structure and systems.