University of Finance and Administration (CZECH REPUBLIC)
About this paper:
Appears in: INTED2014 Proceedings
Publication year: 2014
Pages: 246-251
ISBN: 978-84-616-8412-0
ISSN: 2340-1079
Conference name: 8th International Technology, Education and Development Conference
Dates: 10-12 March, 2014
Location: Valencia, Spain
The purpose of this paper is to discuss education and training focused on anti - money laundering teams in financial and non-financial institutions. Money laundering is a problem, which threatens financial stability of banking system. Team managers have to communicate to their employees all new information including newly issued legislation and they can do it through the training activities. Training has to be available in dozens of financial and non-financial institutions. Anti - money laundering trainings could be added in every phase of financial transaction. Selection of the appropriate methodology derived from organizational theory and proposals of its application into the processes should be task to universities.

The theoretical and methodological part of paper is based on the assumption that the proper choice theory usually brings systematization during implementation of measures against money laundering. The articles, which are mentioned in the paper, are focused mainly on the managerial techniques that can be mixed together to create a methodology for specific target groups, and educational activities. To identify all imaginable variants for solving the problem it is appropriate to use brainstorming as a key tool for possible solutions. This approach can explore new ways of solving problems. Another possibility is to apply critical path method, which is still one of the most popular approaches for planning and for the establishment of new procedures. Although the originally the method was developed for construction work, now can be applied to any project where activities are interdependent.

Results of the research are summarized in the third part of the paper. The author presents a modification of the critical path method to find the fastest execution sequence of operations needed in the process of preventing money laundering, particularly in financial institutions.
The paper has been elaborated as a part of the grant "Increase the effectiveness of policies and measures to detect money laundering activities and to prevent the funding of criminal structures in the sector of financial services" registered under number VG20122014087.
Continuous education, anti-money laundering, new procedures, financial market, institutions, solving problems.