Anti-Money Laundering | compli.com

Like many businesses, dealerships are subject to anti-money laundering laws. However, auto dealerships are vulnerable to money laundering schemes due to the high ticket price of the goods they sell. Auto dealers are also a favorite target of enforcement agencies. Participating in a money laundering scheme can result in heavy civil and criminal penalties and even prison for the individual and the dealership owner. High turnover in sales means that new salespeople may not have up to date training or information about these issues. In addition, the motivation to make a sale and earn a commission may cloud the judgment of a sales or F&I person in an organization that does not emphasis compliance in this area, putting the dealership at even greater risk.

The program includes:

• Money Laundering/IRS Form 8300 Cash Reporting Online Training
• Money Laundering Policy
• Money Laundering Training Assessment
• Annual Cash Reporting Certification Form