Copyright: Royal Roads University
What is financial crime?
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What is money laundering?
Money laundering is the process of transferring profit from crime and illegal activities into legitimate assets by disguising the source of the money. It feeds the cycle of organized crime, affects the integrity of legitimate financial institutions, and can corrupt economies. The diagram below provides a high-level overview of process of money laundering.
How does money laundering work?
This TedEd video is licensed under Creative Commons Attribution–Noncommercial–No Derivatives (CC BY–NC–ND 4.0 International) and is embedded with permission according to the TED Talks Usage policy for non-commercial use. Retrieved from https://ed.ted.com/lessons/how-does-money-laundering-work-delena-d-spann.
What is the fraud triangle?
The fraud triangle is used in auditing to help investigators understand the motivation behind an individual’s decision to commit fraud and can be used to detect high-risk fraud situations based on three components: opportunity, incentive, and rationalization.
This TedEd video is licensed under Creative Commons Attribution–Noncommercial–No Derivatives (CC BY–NC–ND 4.0 International) and is embedded with permission according to the TED Talks Usage policy for non-commercial use. Retrieved from https://ed.ted.com/lessons/how-people-rationalize-fraud-kelly-richmond-pope.
Our team has complied some resources that provide a basic, easy-to-understand overview of the regulations around the investment industry in Canada.
– What is the Investment Industry Regulatory Organization of Canada? Click Here
– Investment Industry Regulatory Organization of Canada FAQs Click Here
How much do you know about financial fraud? Click below to take the quiz on financial fraud awareness.
