Money laundering plays a fundamental role in facilitating the ambitions of drug traffickers, terrorists, organized criminals, insider dealers, tax evaders, and many others who need to avoid the attention from authorities that sudden wealth from illegal activities brings. In using money laundering, criminals seek to make their ill-gotten profits beyond the reach of asset forfeiture laws. Financial institutions such as insurance companies are at the forefront of the battle against money launderers. Under current legislation, insurance companies are responsible for policing their financial dealings and reporting suspicious transactions. This course will examine anti-money laundering regulation in the insurance industry, specifically focusing on the USA PATRIOT Act of 2001, the Suspicious Activities Report (SAR), the Customer Identification Programs (CIP), and the "Know Your Customer" provision (KYC).
At the conclusion of this course, you should be able to:
- Understand the scope and effect of money laundering.
- Recognize the process and methodology of money laundering.
- Determine the impact of money laundering on the operations and responsibilities of insurance professionals and their companies.
- Identify regulation for AML compliance in the insurance industry.
- Understand how to apply and establish an effective anti-money laundering program for insurance companies
This course covers the following topics:
Lesson 1: The What and Why of Budgeting
Lesson 2: Strategic Planning and Budgeting
Lesson 3: Profit Planning: Targeting and Reaching Achievable Goals
Lesson 4: Administering the Budget: Reports, Analyses, and Evaluations
Lesson 5: Cost Behavior: Emphasis on Flexible Budgeting and Contribution Margin
Lesson 6: Responsibility Accounting and Reporting to Management
Lesson 7: Master Budget: Genesis of Forecasting and Profit Planning
Lesson 8: Using Variance Analysis to Evaluate Performance
Lesson 9: Budgeting Sales and Sales Forecasts
Lesson 10: Budgeting Manufacturing Costs
Lesson 11: Budgeting for Sales, Advertising, and Distribution Expenses
Lesson 12: Budgeting General and Administrative Expenses
Lesson 13: Budgeting Research and Development
Lesson 14: Cash Flow Forecasting and Cash Budgeting
Lesson 15: Use of a Spreadsheet Program and Software for Budgeting
Lesson 16: Budgeting Capital Expenditures
Lesson 17: Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation
Lesson 18: Budgeting for Service Organizations
Lesson 19: Budgeting for Non-Profit Organizations
This course is created and brought to you by 360training, a leading provider of accredited e-learning courses to working professionals through today's leading schools, associations and corporations. 360training's high-quality e-learning courses assist thousands of working professionals in a wide range of disciplines, helping them to succeed in today's marketplace, to renew licenses, to acquire certification or to prepare for a new profession.
End of Course Instructions
Upon successful completion of the course, you will be able to print a certificate of completion from your training page.
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