Agnes Insurance KPMG

1. Define money laundering.

2. What are the essential elements of the crime of money laundering?

3. Explain in detail the accounting fraud scheme that was uncovered at Agnes Insurance.

4. How did the facts of this accounting fraud scheme violate the Anti-Money Laundering law?

5. Identify the factual circumstances that explain how the scheme went on undetected for such a lengthy period.

6. What are the foreseeable consequences to the various stakeholders?

7. What checks and balances would your audit team recommend to the company to avoid a future recurrence of this or other similar money laundering schemes?