Anti-Money Laundering: Strategies and Solution

FINA33007D
Open Closing on January 21, 2025 / 1 spot left
Sheridan College
Mississauga, Ontario, Canada
Program Coordinator
1
Timeline
  • February 4, 2025
    Experience start
  • February 5, 2025
    Meeting with industry partners
  • February 11, 2025
    Regulatory Framework Analysis
  • February 25, 2025
    Data Collection and Financial Indicators
  • March 11, 2025
    Assessment Framework Development
  • March 25, 2025
    Final Report Preparation
  • April 1, 2025
    Experience end
Experience
1 projects wanted
Dates set by experience
Preferred companies
Anywhere
Non profit, Small to medium enterprise
Banking & finance, Entertainment, Government, Insurance, Real estate

Experience scope

Categories
Risk, audit and compliance Law and policy Social sciences
Skills
customer service anti money laundering fraud investigation
Student goals and capabilities

Students in this course include some with co-op and entry-level, branch-level work experience with our banks. Other students may be taking this course as an elective and they may not have work experience.


By the end of this course, students will have demonstrated the ability to explain money laundering mechanisms, detection, and enforcement regimes intended to protect Canadian financial managers and corporations operating domestically or abroad. This is an introductory course. No students in this course will have computer programming skills

Students

Students
Undergraduate
Beginner levels
20 students
Project
20 hours per student
Level UP Teams assign students to projects
Teams of 4
Expected outcomes and deliverables

Industry Students should be able to use this experience as context and in support of their customer service roles and completing their professional development exam requirements.


Learning will be demonstrated through a 15-20 minute group presentation on the topic of AML compliance application detailing key findings and recommendations based on their work experience opportunity and reviewed by the employer.

Project timeline
  • February 4, 2025
    Experience start
  • February 5, 2025
    Meeting with industry partners
  • February 11, 2025
    Regulatory Framework Analysis
  • February 25, 2025
    Data Collection and Financial Indicators
  • March 11, 2025
    Assessment Framework Development
  • March 25, 2025
    Final Report Preparation
  • April 1, 2025
    Experience end

Project Examples

Requirements

Quasi-financial entities such as casinos, charities, and real estate agencies are particularly vulnerable to money laundering efforts. Engaging with these sectors can provide valuable insights into effective prevention strategies. Work experience could include, but is not limited to:

  1. Case Study on Red Flags: Conduct research that identifies key red flags indicating potential money laundering activities. Focus on what criminals exploit, such as weak governance and inadequate reporting procedures. Analyze past incidents to illustrate these vulnerabilities and recommend best practices for improvement.
  2. AI and Machine Learning in Investigations: Undertake a technical project documenting how AI and machine learning can enhance investigative procedures. Explore tools for pattern detection and data analysis that help trace and recover stolen funds, showcasing real-world applications and their effectiveness.
  3. Compliance Program Development: Create a compliance program for a charity or casino, detailing policies, procedures, and training initiatives aimed at preventing money laundering. Assess regulatory requirements and suggest frameworks for ongoing monitoring and improvement.
  4. Risk Assessment Workshops: Organize workshops aimed at educating employees of quasi-financial entities on risk assessment techniques. Develop materials that cover the identification of potential vulnerabilities and the implementation of mitigation strategies.
  5. Public Awareness Campaign: Design a public awareness campaign focused on the risks of money laundering in real estate transactions. Use social media, infographics, and community events to educate stakeholders about the importance of due diligence and transparency.
  6. Policy Analysis: Conduct an analysis of existing legislation related to money laundering and propose changes to strengthen enforcement within the sectors of interest. Evaluate the effectiveness of current laws and suggest evidence-based improvements.

Additional company criteria

Companies must answer the following questions to submit a match request to this experience:

Be available for a quick phone/virtual call with the instructor to initiate your relationship and confirm your scope is an appropriate fit for the experience.

Provide a dedicated contact person who is available for weekly/bi-weekly drop-ins to ad