Wednesday, May 23, 2012

Hilarious Quote from my Anti-Money Laundering Training Course

The government requires I take an anti-money laundering course every two years since 9/11. (Because, you know, it's my fault that 9/11 hijackers laundered money.) The following statement appears in my study materials and is so ridiculous and true, it's hilarious...

 

‎"A client’s location, affiliation, or type of business may raise red flags that indicate a need for increased scrutiny. For example, regulators have identified SENIOR POLITICAL FIGURES as individuals that require greater due diligence."  [emphasis mine]

 

So the very same politicians that were asleep at the wheel when it came to national security, require that all of the rest of us pay for their mistake, then, are the very people most likely to commit the crime they're making me take this stupid course to prevent!  Gee, I'm so glad millions of people across the country are being forced to take this course.  I feel so much safer now!

3 comments:

David Larson said...

Indeed you are privileged, and i'll say thank you for sharing such information. Could have known that if you did not share such.

ihatemoneylaundering said...

I may be wrong here, Kelly, as I do not study US legislation, but in most countries in the world, the legal definition of "senior political figure" or "politically exposed person" does not include those in your own jurisdiction. So in fact your US politicians that were "asleep at the wheel" are not included in this category for US institutions. And I think you will find that AML training (ridiculous though you may find it) was required before 9/11 and not just since then.

Kelly McNulty Valenzuela said...

Actually, I've been in this business for 17 years and have been licensed most of that time. AML training is part of The USA PATRIOT Act, which was passed as a result of 9/11, and I've only had to take these courses since then.

Politicians are crooked everywhere you go, so I still find it hilarious that politicians here request that I more closely scrutinize their cohorts from elsewhere. They know their type better than anyone else. Takes one to know one.

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