Anti-Money Laundering
Welcome to the Federation’s Online Learning Program, “Anti-Money Laundering and Terrorist Financing in the Canadian Legal Profession”
The practice of law exposes legal professionals to unique risks in relation to money laundering and terrorist financing. Although some practice areas present higher risks, any legal professional engaged in financial transactions may be targeted by criminals seeking to launder money or finance terrorist activities.
To combat these threats, legal professionals must understand the risks that may arise in their legal practice and be aware of their legal and regulatory obligations. Without such risk-based awareness and knowledge of the rules, they may find themselves unwittingly facilitating or participating in criminal activity.
Using interactive tools like scenarios, videos, and quizzes, the Federation has developed this online learning program to provide guidance to legal professionals on how to mitigate money laundering and terrorist financing risks and comply with their legal and regulatory obligations. The program supplements the Federation’s written anti-money laundering and terrorist financing resources for the profession, which can be accessed here.
The program is divided into five modules, which are designed to be completed in order from 1 to 5. To complete the program, you must finish all five modules. You may return to the modules at any time to finish a module or to refresh your knowledge.
This program may be eligible for CPD credit from your law society. Please check with your law society for further information on its CPD requirements and credits. This program has been accredited by the Law Society of Saskatchewan for 4.0 CPD hours, all of which qualify as ethics hours. The Law Society of Ontario has accredited the program for 3 hours and 45 minutes of Professionalism content. The Law Society of British Columbia has accredited this program for 3 CPD credits.
Begin the program by clicking on the first module. To move from one module to the next, exit the module and select the next module from the program home page.
| Title | Module Highlights | |
|---|---|---|
| 1 | Understanding the Problem of Money Laundering and Terrorist Financing | This module provides an overview of the entire program and explains the threats of money laundering and terrorist financing, how they are regulated, and why legal professionals need to be aware of the problem. Approx. 35-40 minutes |
| 2 | Assessing and Managing Money Laundering Risks | This module describes specific money laundering vulnerabilities and risks in providing legal services, the duty to apply risk appropriate management measures, and how to identify, assess and respond to risks. Approx. 60-70 minutes |
| 3 | Key Due Diligence Requirements | This module describes the requirements under the Model Rule on Client Identification and Verification and how to comply. Approx. 55-60 minutes |
| 4 | Proper Use of Trust Accounts | This module describes the requirements under the Model Trust Accounting Rule, how to comply, and implementing proper trust account management. Approx. 25-30 minutes |
| 5 | Cash Transactions | This module describes the requirements under the Model Rule on Cash Transactions and how to comply. Approx. 20-25 minutes |