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Ethics 2019: Anti-Money Laundering 103406-5-IA

Ethics 2019: Anti-Money Laundering 103406-5-IA

3 CE credits • Patrick Hatting, MBA, ChFC, CLU, CASL, LUTCF

Location Course

  • IA Course No. 103406 (Ethics)

Money laundering is the process of using a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money.  Insurance products can be a choice place for the people conducting this unlawful practice to use due to the fact that it is not uncommon for insurance or annuity premiums to be large, sometimes with deposits in tens of thousands.  By the same token, we in the insurance industry like it when customers want to place big dollars with us in insurance or investments because we often times get paid a commission when they do so.  We could want to turn a blind eye when a big case falls in our lap, but things that seem too good to be true usually are!  None of us wants to place a big case only to find out later there are all sorts of suspicious activity going on and then we tarnish our own reputation by being victimized by a perpetrator of fraud.  We will learn some techniques money-launderers employ and what we should do if we are suspicious of this illegal practice occurring.  After reviewing the three phases of money laundering, we will review several cases and talk about the insurance industry vulnerabilities.   The insurance industry is a target and everyone must be knowledgeable in this area.  It can have a negative impact not only on you professionally, but on everyone in our industry.

NOTICE:  Farm & Business Succession Planning (12:00-5:50pm) is also offered on this date at this location.

Event Details

Event Name: Ethics 2019: Anti-Money Laundering 103406-5-IA
Show Event Date: 10 Oct, 2019
Individual Registration Rate: $55.00
Address: 230 St. Andrews WaySouth West Hall, Sioux Center, IA 51250