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Author: Oliver Lin
Publisher: Notion Press
ISBN: 1644292084
Category : True Crime
Languages : en
Pages : 210
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Book Description
The first edition, Money Laundering, A Handbook for CDD Compliance provides empirical facts of money laundering that forced the world to unite to combat corruption, money laundering and terrorist financing. Authored by Oliver, Master of Laws and Accountant (UK), obtained the foundation of the Handbook from in-depth research supporting the complexity of the society matrix attributing to crimes in the Asia and Southeast Asia regions. In this comprehensive handbook, FATF members and DNFBPs follow the FATF universal standards to fight money laundering and terrorist financing. The NCB confiscation measure threatens property of the criminals. How corruption, money laundering occurs and how organised crime survive? How terrorists create terror and how IS survive? How lawyer Robin defence for not reporting a suspicious transaction? How identity verification for Arumugam s/o Muthu exempted? This handbook provides the answer. UN instruments and FATF preventive measures compliance are mandatory. Failure to comply undermines the status of the FATF member. For the DNFBP, the penalty will occur. To discharge mandatory compliance, the FATF standards and the application of the principles require guidance and illustration of hypothesis examples of different DNFBP service providers. Also, with the precedent forms and flowcharts to assist the compliance officers. Transforming the FATF standards into domestic statues, Singapore model was adopted. Further, how Mutual Evaluation operates to assess the risk of a nation in AML/CFT reveals the effectiveness of the AML/CFT system in force. Success in AML/CFT is the acquisition of the detection skill of a suspicious transaction and a competent authority.
Author: Oliver Lin
Publisher: Notion Press
ISBN: 1644292084
Category : True Crime
Languages : en
Pages : 210
Get Book Here
Book Description
The first edition, Money Laundering, A Handbook for CDD Compliance provides empirical facts of money laundering that forced the world to unite to combat corruption, money laundering and terrorist financing. Authored by Oliver, Master of Laws and Accountant (UK), obtained the foundation of the Handbook from in-depth research supporting the complexity of the society matrix attributing to crimes in the Asia and Southeast Asia regions. In this comprehensive handbook, FATF members and DNFBPs follow the FATF universal standards to fight money laundering and terrorist financing. The NCB confiscation measure threatens property of the criminals. How corruption, money laundering occurs and how organised crime survive? How terrorists create terror and how IS survive? How lawyer Robin defence for not reporting a suspicious transaction? How identity verification for Arumugam s/o Muthu exempted? This handbook provides the answer. UN instruments and FATF preventive measures compliance are mandatory. Failure to comply undermines the status of the FATF member. For the DNFBP, the penalty will occur. To discharge mandatory compliance, the FATF standards and the application of the principles require guidance and illustration of hypothesis examples of different DNFBP service providers. Also, with the precedent forms and flowcharts to assist the compliance officers. Transforming the FATF standards into domestic statues, Singapore model was adopted. Further, how Mutual Evaluation operates to assess the risk of a nation in AML/CFT reveals the effectiveness of the AML/CFT system in force. Success in AML/CFT is the acquisition of the detection skill of a suspicious transaction and a competent authority.
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: Doug Hopton
Publisher: CRC Press
ISBN: 1317094336
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
Worldwide, anti-money laundering regulations and legislation have become one of the weapons of choice of governments that are fighting global terrorism and criminality. In this updated edition of Money Laundering, Doug Hopton explains how The Money Laundering Regulations 2007 have extended even further the range of UK businesses covered by the Proceeds of Crime Act to include solicitors, lawyers, accountants, estate agents, high value dealers, trust or company service providers and, in effect, many other companies involved in consultancy or business services. The complexity of the new laws and the limited amount of any case law asks more questions about the responsibilities of these companies and their liabilities. Doug Hopton's highly practical guide explains the basis of international law, regulations and standards in this area and how they affect businesses; and provides down-to-earth advice on the basic rules of good business management: customer due diligence, know your business (and your client's business), which will help companies understand what procedures to establish, and how and when to report suspicious activity. The author explains the basis of money laundering and how it works, along with the development of the law and regulations around the world, and how other countries' laws can affect UK companies.
Author: Thomas J. Biersteker
Publisher: Routledge
ISBN: 1134155360
Category : Political Science
Languages : en
Pages : 349
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Book Description
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: Kevin Sullivan
Publisher: Apress
ISBN: 1430261617
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
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:
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: Alison Matthews
Publisher:
ISBN: 9781784460785
Category :
Languages : en
Pages : 144
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Book Description
Author: Dennis Cox
Publisher: John Wiley & Sons
ISBN: 0470065745
Category : Business & Economics
Languages : en
Pages : 756
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Book Description
Effectively implement comprehensive anti-money laundering regulations Handbook of Anti-Money Laundering details the most up-to-date regulations and provides practical guidance toward implementation. While most books focus on the regulations themselves, this useful guide goes further by explaining their meaning to bank operations, and how the rules apply to real-life scenarios. The international perspective provides a broader understanding of the anti-money laundering controls that are in place worldwide, with certain country-specific details discussed in-depth. Coverage includes the Wolfsberg Principles, Financial Action Task Force guidance, the U.S. Patriot Act, and the latest from both the EU and Bank for International Settlements. The IMF estimates that two to five per cent of the global GDP – $590 billion to $1.5 trillion – is laundered every year. Globally, banks and other financial institutions have been required to put in place specific arrangements to prevent and detect money laundering and the criminal activity that underlies it. This book provides the latest regulations and guidance toward application. Understand what money laundering regulations mean in practice Reference international and country-specific rules and regulations Get up to speed on the most current regulations and practices Implement the most effective anti-money laundering measures In response to the increased monitoring and regulation, money launderers have become more sophisticated at disguising the source of their funds. Financial institutions' employees must be ever more aware of what they're facing, and how to deal with it, making actionable guidance a critical companion to any regulatory information. For financial institutions seeking more thorough understanding and practical advice, the Handbook of Anti-Money Laundering is a comprehensive guide.
Author: Theodore S. Greenberg
Publisher: World Bank Publications
ISBN: 0821383337
Category : Business & Economics
Languages : en
Pages : 126
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Book Description
In recent years, revelations of grand corruption and the plunder of state assets have led to greater scrutiny of financial relationships with politically exposed persons (PEPs) senior government officials and their family members and close associates. Notwithstanding the efforts by many financial institutions and regulatory authorities to prevent corrupt PEPs from entering and using the financial system to launder the proceeds of corruption, there has been an overall failure in the effective implementation of international standards on PEPs. Implementation of an effective PEP regime is a critical component in the prevention and detection of transfers of proceeds of crime and, therefore, ultimately in the process of recovering them. 'Politically Exposed Persons: Preventive Measures for the Banking Sector' is designed to help banks and regulatory authorities address the risks posed by PEPs and prevent corrupt PEPs from using domestic and international financial systems to launder the proceeds of corruption. The book provides recommendations and good practices aimed at improving compliance with international standards and increasing supervisory effectiveness. It is an important tool for individuals, governments, financial and private sector companies, and international organizations involved in developing and implementing standards aimed at fighting corruption and money laundering, and trying to recover stolen assets and the proceeds of corruption.
Author: Chris Mathers
Publisher:
ISBN: 9781552635841
Category : Money laundering
Languages : en
Pages : 240
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Book Description
Author Chris Mathers has had one of those lives most of us cannot fathom. He is a well-known international authority on money laundering whose work has seen him operating phony businesses and laundering money for drug lords and the Mob while working undercover with the RCMP, DEA, FBI and other foreign agencies worldwide. Mathers has seen it all and Crime School tells it all. Humourous at times, deadly serious at others, he describes how organized criminals operate domestically and internationally, how they are able to corrupt bankers and subvert economies, and how in fact money laundering is the nexus between organized crime and terrorism. Appealing to true crime fans and those in the business/finance sector, Crime School takes us through the history of money laundering, from ancient times through the South Florida cocaine craze of the 1970s, to todayâs beyond sophisticated techniques employed by terrorists and organized crime, techniques that have achieved such success that the face of our world has changed dramatically. Brisk, hard hitting, entertaining and sometimes shocking and frightening, Chris Mathers takes readers on a journey that is always fascinating, and it is an underworld few have ever experienced. Truly amazing.
