Prevention of Money Laundering

Preventing money laundering and terrorist financing

Measures to prevent money laundering are key in the fight against organized crime and terrorism. The Prevention of Money Laundering Act therefore requires banking institutions and other financial services providers to clearly demonstrate that their employees have received instruction and training to raise their awareness regarding suspicious transactions. This requirement covers all employees of financial institutions who conduct cash and non-cash transactions. Similarly, all insurance company employees who initiate and establish business relationships or conduct transactions are required to receive regular training regarding measures to combat money laundering.

The content it provides is up-to-date to current legislation and delivered in short, self-contained lessons. Instead of ceaseless repetition of clauses the training uses interactive and target-group oriented case studies from real life. Especially the lesson “Current methods of money laundering” increases the necessary awareness among your employees. With its fresh design, audio and numerous animations the web based training strengthens your company in its mission to fight money laundering and terrorism financing. Your employees apply their theoretical knowledge in practice and learn to behave correctly in case of suspected money laundering. A final test documents and certifies that the user has successfully completed the tutorial.

Contents of this e-learning program

The tutorial consists of a number of self-contained lessons. You can pick and choose any combination of lessons depending on whether you want to use the standard product or would like more options. Click here to learn more about ’lessons’ and ’lesson types’.

  • Welcome page
  • The basics in a nutshell
  • An overview of laws and directives
  • Preventing terrorist financing
  • Due diligence – Know your Customer
  • PEPs – politically exposed persons
  • Beneficial owner
  • Background check
  • Recognizing money laundering and responding appropriately (branch bank)
  • Recognizing money laundering and responding appropriately (direct bank)
  • Methods currently used by money launderers
  • Case study: A casual acquaintance (target group: all)
  • Case study: Payments from abroad (target group: customer advice)
  • Case study: A major logistics project (target group: credit business)
  • Case study: Suspicious securities trading activity (target group: securities transaction)
  • Case Study: The applicant (target group: personnel/HR)
  • Case study: A different mailing adress (target group: back Office/monetary transactions)
  • Test

Expert author

Lars-Heiko KruseAttorney-at-law Lars-Heiko Kruse acts as expert author for Sponge Compliance’s “Vigilance in Financial Transactions” training program. Being Partner at PricewaterhouseCoopers AG WPG, he addresses topics like prevention of fraud and money laundering, financial sanctions, compliance and corporate governance. Moreover, he is responsible for forensic special investigations. His clients are advised in preparing threat analyses and implementing measures to prevent money laundering , other criminal actions as well as violations of financial sanctions.



Companies such as ADG, BSQ Bauspar AG, DZ Bank, easycash, GDV Gesamtverband der Deutschen Versicherungswirtschaft e. V., HSH Nordbank, ING-DiBa, KfW, MAN Financial Services, Reisebank, and Portigon (formerly WestLB) are already using e-learning programs on prevention of money laundering developed by Sponge Compliance.

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