The Importance of Anti-Money Laundering in the Mortgage Profession
Each year billions of US dollars are illegally concealed and profited upon. As a mortgage professional, understanding the process of money laundering, identifying red flags, and the process for reporting suspicions is critical. This year, the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury Department, is requiring non-bank residential mortgage lenders and originators to establish anti-money laundering programs, which includes an ongoing training program.
"The Importance of Anti-Money Laundering in the Mortgage Profession" is a three-hour, online course covering the fundamentals of anti-money laundering and suspicious activity reporting. It describes money laundering and terrorist financing, reveals red flags, reviews the Bank Secrecy Act and the USA PATRIOT Act, discusses Suspicious Activity Reporting requirements, and more. This course has interactive components throughout the course and a 25-question final exam to test your knowledge.
This is a professional development course and is not NMLS-approved nor will your course completion be reported to any regulatory body.