Bank Financial Security and Money Laundering Prevention

The Bank Financial Security and Money Laundering Prevention certificate is designed to meet industry needs, as recommended by the local banking industry. The objectives of the program are to prepare students for entry-level positions in banking, for which critical responsibilities include detecting fraudulent activity in personal and commercial accounts.

Program Goals:

• To demonstrate knowledge in the areas of accountancy, business, information systems, and law;
• To develop a basic understanding of statistics and its application to the banking industry;
• To identify legal and ethical issues relative to working in business;
• To communicate effectively in writing;
• To develop basic competencies required to better understand and detect fraudulent activity in personal and commercial bank accounts.

Anyone who works in banking should be well-versed in identifying and controlling risks associated with money laundering and terrorist financing. This program may be completed on a part- or full-time basis. 

Every financial institution has a need for employees who are knowledgeable and well-trained in regulations set forth by the Bank Secrecy Act (BSA) and Anti-Money Laundering. This is especially important because all financial institutions have statutory and regulatory obligations in conjunction with the BSA, including federal and state-chartered institutions, as well as credit unions. Professionals in the financial industry and college faculty agree that a certificate program in Bank Financial Security and Money Laundering Prevention can provide students with integrated instruction in critical topics, including accounting, business law, corporate entities, and internal auditing.

As criminal activities around terrorism and money laundering continue to pose significant problems for the banking industry, it is expected that growth in employment opportunities will continue to increase. As that happens there will be an increasing need for degree and certificate programs to serve prospective students as well as professionals currently working in the finance, legal, and other related industries.