The Next Wave Of Global Anti Money Laundering Enforcement

Author : Sven Stumbauer
Publisher : Palgrave Macmillan
ISBN 13 : 9783031058233
Total Pages : 0 pages
Book Rating : 4.32/5 ( download)

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Download or read book The Next Wave of Global Anti-Money Laundering Enforcement written by Sven Stumbauer and published by Palgrave Macmillan. This book was released on 2024-10-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial-services industry has been disrupted and roiled by a perfect storm of forces. Complex regulatory-compliance requirements, aging legacy systems, dated operating models, digital innovation and fintech have rapidly changed the environment for many financial institutions worldwide. To further amplify the challenges for financial institutions globally, various regulatory bodies across the globe have enacted major legislative changes, increasing the pressure on boards and C-level executives significantly. Unlike previous years, this new regulatory focus on anti-money laundering (AML) can be seen globally as various regulatory regimes converge closer to a global standard as promulgated by the Financial Action Task Force (FATF). Increasing regulatory enforcement, geopolitical changes and record-setting monetary fines have made adequate AML risk management a significant challenge for financial institutions globally. In this environment, financial institutions need to become more risk agile and move from backwards looking compliance measures to proactive risk management. This book will showcase how to transform current AML compliance efforts into more dynamic risk management solutions that help protect financial institutions against bad actors and manage regulatory risk and exposure. Based on the author’s global experience in helping financial institutions to manage their AML risks in 60+ jurisdictions, this book calls for greater urgency from boards and senior management, policymakers and AML risk practitioners to address looming risks. From corporate governance structures, tone at the top, to more efficient ways to quantify and manage risks, this book addresses key changes financial institutions must make to evolve from strict compliance to an agile risk management framework that actually addresses their AML risks in practical ways and shift the mind set from a cost center to a value creation center.

Author : John A. Cassara
Publisher : John Wiley & Sons
ISBN 13 : 1119125391
Total Pages : 256 pages
Book Rating : 4.96/5 ( download)

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Download or read book Trade-Based Money Laundering written by John A. Cassara and published by John Wiley & Sons. This book was released on 2015-10-29 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncover the financial fraud that funds terrorist organizations Trade-Based Money Laundering is an authoritative examination of this burgeoning phenomenon, now coming under scrutiny in the War on Terror. This book walks you through the signs and patterns of trade-based money laundering (TBML) to help you recognize it when it occurs, and shows you how data and analytics can be used to detect it. You'll learn the common value transfer techniques including invoice fraud, over-and-under invoicing, and misrepresentation, and learn why analytic detection systems have yet to be implemented despite the existence of copious data. Case studies from around the world highlight the real-life implications of the concepts and processes presented in the text, giving you a first-hand view of the mechanisms at work inside this expanding illegal market. Trade-based money laundering uses trade to convert large quantities of illicit cash into less conspicuous assets or commodities to evade financial transparency laws and regulations. As an ideal funding mechanism for terrorist groups, the practice is getting more attention even as it increases in scale and spread. This book takes you deep inside TBML to better arm you against its occurrence. Learn the typical value transfer techniques of TBML Examine case studies detailing international examples Discover why institutions have failed to implement detection systems Explore ways in which analytics can identify TBML According to the U.S. State Department, TBML has reached staggering proportions in recent years, and is considered by many to be the next frontier of international money laundering enforcement. Trade-Based Money Laundering gives you a battle plan, with expert insight and real-world guidance.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781589064232
Total Pages : 124 pages
Book Rating : 4.32/5 ( download)

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Download or read book Regulatory Frameworks for Hawala and Other Remittance Systems written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-03-24 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hawala and other remittance systems have gained attention in recent years with the substantial growth of remittance flows from countries with large migrant labor forces and with increased focus on combating money laundering and the financing of terrorism. The IMF and the World Bank have been researching these systems since 2002 to better understand the interplay of historical, cultural, and economic factors that promote such systems. This book is a survey of regulatory practices and an overview of experiences in different countries, and includes articles on regulatory frameworks in remitting and receiving countries and on the problems that can arise when regulating remittance systems.

Author : Paul Allan Schott
Publisher : World Bank Publications
ISBN 13 : 0821365142
Total Pages : 292 pages
Book Rating : 4.44/5 ( download)

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Download or read book Reference Guide to Anti-money Laundering and Combating the Financing of Terrorism written by Paul Allan Schott and published by World Bank Publications. This book was released on 2006-01-01 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition of the Reference Guide is a comprehensive source of practical information on how countries can fight money laundering and terrorist financing. Aimed at helping countries understand the new international standards, it discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations play in the process. The Reference Guide is a valuable tool for establishing effective regimes to successfully prevent, detect, and prosecute money laundering and terrorist financing.

Author : Kevin Sullivan
Publisher : Apress
ISBN 13 : 1430261617
Total Pages : 190 pages
Book Rating : 4.12/5 ( download)

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Download or read book Anti-Money Laundering in a Nutshell written by Kevin Sullivan and published by Apress. This book was released on 2015-07-14 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti–Money Laundering in a Nutshellis a concise, accessible, and practical guide to compliance with anti–money laundering law for financial professionals, corporate investigators, business managers, and all personnel of financial institutions who are required, under penalty of hefty fines, to get anti–money laundering training. Money laundering is endemic. As much as 5 percent of global GDP ($3.6 trillion) is laundered by criminals each year. It’s no wonder that every financial institution in the United States—including banks, credit card companies, insurers, securities brokerages, private funds, and money service businesses—must comply with complex examination, training, and reporting requirements mandated by a welter of federal anti–money laundering (AML) laws. Ignorance of crime is no excuse before the law. Financial institutions and businesses that unknowingly serve as conduits for money laundering are no less liable to prosecution and fines than those that condone or abet it. In Anti–Money Laundering in a Nutshell: Awareness and Compliance for Financial Personnel and Business Managers, Kevin Sullivan draws on a distinguished career as an AML agent and consultant to teach personnel in financial institutions what money laundering is, who does it, how they do it, how to prevent it, how to detect it, and how to report it in compliance with federal law. He traces the dynamic interplay among employees, regulatory examiners, compliance officers, fraud and forensic accountants and technologists, criminal investigators, and prosecutors in following up on reports, catching launderers, and protecting the integrity and reputations of financial institutions and businesses. In particular, corporate investigators will gain rich insights winnowed from the author's experiences as a New York State and federal investigator.

Author : New York (State)
Publisher :
ISBN 13 :
Total Pages : 578 pages
Book Rating : 4.17/5 ( download)

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Download or read book Banking Law: New York Banking Law written by New York (State) and published by . This book was released on 1907 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Thomas J. Biersteker
Publisher : Routledge
ISBN 13 : 1134155360
Total Pages : 349 pages
Book Rating : 4.61/5 ( download)

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Download or read book Countering the Financing of Terrorism written by Thomas J. Biersteker and published by Routledge. This book was released on 2007-09-12 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Groups committing acts of terrorism have adapted their means of financing to elude detection since the 9/11 attacks in the United States. Surveying the global community’s multi-year effort to cut off terrorist funding, this volume offers a much-needed analysis of a complex, widely discussed, yet poorly understood subject. While books on terrorism have touched upon the topic, this is the first comprehensive, balanced, and scholarly overview of terrorist financing, its methods, and efforts to counter it. Bringing together leading analysts of terrorism, international relations, global finance, law, and criminology, Countering the Financing of Terrorism provides a critical assessment of the international effort to restrict terrorist financing. It evaluates the costs and benefits and offers recommendations for more effective policies for the future.

Author : Shahar Hameiri
Publisher : Cambridge University Press
ISBN 13 : 1107110882
Total Pages : 287 pages
Book Rating : 4.85/5 ( download)

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Download or read book Governing Borderless Threats written by Shahar Hameiri and published by Cambridge University Press. This book was released on 2015-07-16 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Non-traditional', border-spanning security problems pervade the global agenda. This is the first book that systematically explains how they are managed.

Author : Sarah Kebbell
Publisher : Routledge
ISBN 13 : 0429670907
Total Pages : 214 pages
Book Rating : 4.09/5 ( download)

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Download or read book Anti-Money Laundering Compliance and the Legal Profession written by Sarah Kebbell and published by Routledge. This book was released on 2021-11-29 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money laundering is a global issue and there is evidence that the services provided by the legal profession may be misused to launder the proceeds of crime. This book explores the experiences of professionals within Top 50 law firms when seeking to comply with the UK’s anti-money laundering (AML) regime. The book draws upon empirical evidence from 40 in-depth interviews with solicitors and compliance personnel from 20 Top 50 law firms. Access to this section of the legal profession is challenging in the context of academic research, and the research provides an account, seldom heard in academic literature, directly from practitioners. The book uses these research findings to explore and discuss the AML compliance issues faced by this section of the profession. It highlights the challenges presented by the legislative architecture of the Proceeds of Crime Act 2002, and considers compliance issues relating to customer due diligence, AML training, the client account and the suspicious activity reporting regime. It also considers participants’ perceptions of the regime, their role within it, and their own assessment of money laundering risk. It concludes by using this evidence to recommend amendments to current AML policy and legislation. This book will be of interest to students and researchers studying Financial Crime Law, Business and Company Law, and White Collar Crime, as well as policy makers in the areas of money laundering, compliance, and corruption.

Author : David Kuo Chuen Lee
Publisher : World Scientific
ISBN 13 : 9811238820
Total Pages : 416 pages
Book Rating : 4.26/5 ( download)

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Download or read book Foundations For Fintech written by David Kuo Chuen Lee and published by World Scientific. This book was released on 2021-09-29 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the digital era, emerging technologies such as artificial intelligence, big data, and blockchain have revolutionized various ways of people's daily lives and brought many opportunities and challenges to the industries. With the increasing demand for talents in the fintech realm, this book serves as a good guide for practitioners who are seeking to understand the basics of fintech and applications of different technologies. This book covers important knowledge in statistics, quantitative methods, and financial innovation to lay the foundation for fintech. It is especially useful for people who are relatively new to this area and would like to become professionals in fintech.Bundle set: Global Fintech Institute-Chartered Fintech Professional Set I