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Author: Sophia Beckett Velez
Publisher: Emerald Group Publishing
ISBN: 1835490417
Category : Business & Economics
Languages : en
Pages : 177
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Book Description
US and global banking regulators have enforced compliance laws to minimise money laundering, terrorist funding, human trafficking, fraudulent banking activities, and bad mortgage loans that expose banks to significant risks and losses. Author Sophia Beckett Velez offers an original contribution to the field of banking.
Author: Sophia Beckett Velez
Publisher: Emerald Group Publishing
ISBN: 1835490417
Category : Business & Economics
Languages : en
Pages : 177
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Book Description
US and global banking regulators have enforced compliance laws to minimise money laundering, terrorist funding, human trafficking, fraudulent banking activities, and bad mortgage loans that expose banks to significant risks and losses. Author Sophia Beckett Velez offers an original contribution to the field of banking.
Author: Marius-Cristian Frunza
Publisher: Academic Press
ISBN: 0128045329
Category : Business & Economics
Languages : en
Pages : 523
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Book Description
This comprehensive source of information about financial fraud delivers a mature approach to fraud detection and prevention. It brings together all important aspect of analytics used in investigating modern crime in financial markets and uses R for its statistical examples. It focuses on crime in financial markets as opposed to the financial industry, and it highlights technical aspects of crime detection and prevention as opposed to their qualitative aspects. For those with strong analytic skills, this book unleashes the usefulness of powerful predictive and prescriptive analytics in predicting and preventing modern crime in financial markets. - Interviews and case studies provide context and depth to examples - Case studies use R, the powerful statistical freeware tool - Useful in classroom and professional contexts
Author: Paul Allan Schott
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Efforts to launder money and finance terrorism have been evolving rapidly in recent years in response to heightened countermeasures. The international community has witnessed the use of increasingly sophisticated methods to move illicit funds through financial systems across the globe and has acknowledged the need for improved multilateral cooperation to fight these criminal activities. The World Bank and International Monetary Fund have developed this guide to help countries understand the new international standards. It will hopefully serve as a comprehensive source of practical information for countries to fight money laundering and terrorist financing. It discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations, such as the Bank and the IMF, play in the process. This guide is a tool for countries to establish and improve their legal and institutional frameworks and their preventive measures according to international standards and best practices. -- From Foreword (p. ix).
Author: New York (State)
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 578
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Book Description
Author: Rafay, Abdul
Publisher: IGI Global
ISBN: 179988760X
Category : True Crime
Languages : en
Pages : 374
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Book Description
During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. The past few decades have been eventful for these issues. Today, tackling money laundering and terrorism financing are considered key issues in developed and developing countries alike. Eradication of money laundering and terrorism financing through a holistic approach of awareness, prevention, and enforcement is a current need. It has enabled the birth of new regulatory regimes based on strict compliance, robust processes, and technology. One of the many problems with this is the lack of general awareness about all these issues among various stakeholders including researchers and practitioners. Money Laundering and Terrorism Financing in Global Financial Systems deepens the discourse about money laundering, terrorism financing, and risk management in a modern-day environment. It provides a fascinating and invaluable guide for understanding the theory, practice, and cases of these topics. Split into two sections, the first being money laundering and terrorism financing and the second being financial governance and risk management, the chapters create comprehensive knowledge on these acts of crime in the financial industry by defining the crimes themselves, the many challenges and impacts, and potential solutions. This book is ideal for government officials, financial professionals, policymakers, academicians, business professionals, managers, IT specialists, researchers, and students.
Author:
Publisher: World Bank Publications
ISBN: 0821379135
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
"Money laundering and terrorist financing are serious crimes that affect not only those persons directly involved, but the economy as a whole. According to international standards, every bank has the obligation to know its customers and to report suspicious transactions. Although these obligations sound straightforward, they have proved challenging to implement. What information precisely has to be gathered? How should it be recorded? If and when does one have to file a suspicious transaction report? It is here that a supervisor can play a crucial role in helping supervised institutions; first, in understanding the full extent of the obligations of Customer Due Diligence and Suspicious Transaction Reports (STR) and, second, in ensuring that those obligations are not just words on paper but are applied in practice. Effective supervision is key to the success of a country's AML/CFT system. In this regard, field work in both developed and developing countries has shown an overall low compliance in the area of supervision of banks and other financial institutions; supervisory compliance is indeed generally lower than the average level of compliance with all Financial Action Task Force recommendations. As a result, by providing examples of good practices, this book aims to help countries better conform to international standards. In this regard, this handbook is specifically designed for bank supervisors.
Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
ISBN: 1589063953
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author: Michael Volkov
Publisher: Ethics 360 Media
ISBN: 9789810898458
Category : Bribery
Languages : en
Pages : 178
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Book Description
Michael Volkov's career has spanned 30 years as an attorney in Washington, D.C. - as a federal prosecutor, a Chief Counsel on the Senate and House Judiciary Committees, a trial attorney in the Antitrust Division and in private practice. This book will help anyone better understand anti-bribery compliance in the U.S. and beyond. "Michael Volkov's book is a compilation of articles on a number of subjects important to lawyers advising clients how to stay out of trouble. He is a prolific writer and I can say without question, we have not heard the last of his musings. Simply put, his book contains important information that should prove helpful to lawyers, particularly to those who practice in the white collar field." - Judge Stanley Sporkin, Former Director of the Division of Enforcement, U.S. Securities and Exchange Commission.
Author: Organization for Economic Development and Cooperation
Publisher: Organization for Economic Co-Operation & Development
ISBN: 9789264287525
Category : Risk assessment
Languages : en
Pages : 0
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Book Description
This report provides a synthetic view of national risk assessments (NRAs) in twenty OECD Member countries. NRA are used to support risk management decisions in a rapidly changing global risk landscape characterized by increasingly complex, interconnected societies and highly mobile people, information and goods. The report highlights good governance practices in establishing NRAs and how the results are used to inform public policy. It identifies challenges that OECD Member countries continue to confront in their efforts to implement NRA, and makes concrete recommendations where improvements could still be made.
Author: Ehi Eric Esoimeme
Publisher:
ISBN: 9789789486038
Category : Money laundering
Languages : en
Pages : 350
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Book Description
Governments around the world have made the fight against money laundering and the financing of terrorism a priority. Among its effort is the implementation of the Financial Action Task Force Recommendations, specifically Recommendation 1. The FATF Recommendations (Recommendation 1) requires that countries mandate financial institutions and designated non-financial businesses and professions (DNFBPs), to adopt a risk-based approach to combating money laundering and terrorist financing. This book aims to provide a clear understanding of what the risk-based approach involves. In addition to this, it differentiates the risk-based approach from the rule-based approach and determines if the risk-based approach interferes with the human rights of high-risk customers.Internationally, this book would be the first comprehensive book on the subject of the Risk-Based Approach. This book would help financial institutions and designated non-financial institutions with any problem regarding the application of the risk-based approach.Financial institutions/DNFBPs who implement the risk-based approach, in line with the guidance given in this book, will be well-placed to avoid the consequences of inappropriate de-risking behaviour. Although there are quite a number of reference guides provided by the Financial Action Task Force to assist firms with the implementation of the risk-based approach. Those publications focus mainly on the risk assessment principles. This book is focused on both the principles and the practical aspect of its application.This book is a must read for every professional specializing in the field of Anti-Money Laundering Compliance. It is also a must read for every individual who intends to know more about the money laundering subject.
