Money Value Transfer Services (MVTS)

This course covers what is meant by MVTS and how it differs from conventional money remittance activity.  Participants will understand the historical background and beneficial nature of genuine MVTS activity through examples and case studies.  The course will then focus on identifying the inherent dangers and significant risks of MVTS abuse by criminals to launder funds, often usurping conventional banking systems.

This heavily interactive course enables the instructor to facilitate the participants through their teamwork to ensure they develop and enhance their ability in analysis, critical thinking and recognition of typologies and indicators of risk. An actual case study of a criminal MVTS is utilised in the form of a group exercise whereby successive chronological document feeds of actual MVTS records enable the participants to review, analyse and consider their findings.  This will enable financial service providers to recognise suspicious activity.

Training Objectives

Participants will:

• Understand how MVTS differ from conventional money remittance services
• Understand the necessity and benefits of ‘pure’ MVTS operators
• Gain awareness of the significant AML risks posed by MVTS
• Gain practical experience from handling, reviewing and analysing actual MVTS documents
• Identify ways that criminal MVTS conceal the nature of their activities
• Develop skills that can assist in the identification of MVTS operators

Training Outline

• Definition and explanation of MVTS
• The three types of MVTS; Pure (Beneficial), Hybrid Traditional (Benign) and Criminal (Malignant)
• Understanding the benefits of ‘Pure’ MVTS
• The risks posed by ‘Benign’ and ‘Malignant’ MVTS
• Interactive case study teamwork with document feeds including –
• Initial intelligence reporting
• MVTS Bank Account Ledgers
• MVTS Paper Transaction Records
• MVTS Computer Transaction Records
• MVTS International Trade Payment Invoicing
• Explanation and understanding of the relevance and use of ‘Tokens’ by criminals in cash handovers