Money laundering: The unexpected trillion-dollar industry
Personal & Professional Development
CPD: 1 Hour(s)
Money laundering is the act of concealing an illicit source of income. By passing money through complex transfers and transactions the money is “cleaned” of its illegitimate origin and made to appear as legitimate business profits. Of all the types of financial crime, money laundering is by far the largest by value. Globally, each year, trillions of illicit gains are washed by organised crime. The people who facilitate such schemes are smart and adaptive. In this session Mark Thomas will examine a case study that has been compiled by global media reports and you will learn the basics of money laundering and the requirements to prevent and how to report upon these activities.
Managing Director, Mark Thomas Financial Services
Mark is a finance professional, an educator, a consultant, and a non-executive director who works with businesses and individuals to help them to excel.
With over 25 years in investment management in both listed and unlisted markets, including 10 years in senior management, Mark has worked with large institutions to develop bespoke investment strategies, led sales efforts, managed back-office functions, and has traded in the derivative and equity markets.
As a consultant Mark has assisted companies and individuals to achieve their goals through serving as the General Manager and Company Secretary of a finance industry body, chairing the Risk Committee for a Retail investment manager, and providing strategic advice to small and medium sized businesses.
Mark has been teaching for over 30 years at the tertiary and post-graduate levels, working for universities, superannuation and finance industry bodies, and private education institutions to teach subjects in business, finance, investment management, derivatives, strategy, risk management, and communications. In addition to teaching, Mark has authored papers on finance, investment, and risk management, he is a blogger on investment-related topics, and is a regular speaker on finance topics for continuing education providers.
Mark’s community service work is through directorships in the arts, youth, sports, and financial services sectors, where he has successfully steered each entity to grow whilst reducing risk through developing risk policies, risk management frameworks, improving financial processes, and leading the development of organisational strategy.