Summary of Kevin Sullivan's Anti-Money Laundering in a Nutshell PDF Download
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Author: Everest Media,
Publisher: Everest Media LLC
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 The term money laundering was coined in the 1920s, when gangsters would wash money to hide its origin. Today, the ideas and economics of money laundering are thousands of years old. #2 Money laundering is the process of integrating the proceeds of crime into the mainstream financial system by hiding their origin. It is a sophisticated international game of intrigue and mystery, but there are some evil people behind it. #3 Money laundering is the process of integrating the proceeds of criminal enterprises into the legitimate mainstream of the financial system. It is a simple and wonderful definition, but why does a bad guy have to launder his money in the first place. #4 The Palermo Convention is a resolution adopted by the United Nations Convention against Transnational Organized Crime that was held in Palermo, Italy, in 2000. It states that any person who knowingly transports money for another person can be charged with money laundering.
Author: Everest Media,
Publisher: Everest Media LLC
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
Get Book Here
Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 The term money laundering was coined in the 1920s, when gangsters would wash money to hide its origin. Today, the ideas and economics of money laundering are thousands of years old. #2 Money laundering is the process of integrating the proceeds of crime into the mainstream financial system by hiding their origin. It is a sophisticated international game of intrigue and mystery, but there are some evil people behind it. #3 Money laundering is the process of integrating the proceeds of criminal enterprises into the legitimate mainstream of the financial system. It is a simple and wonderful definition, but why does a bad guy have to launder his money in the first place. #4 The Palermo Convention is a resolution adopted by the United Nations Convention against Transnational Organized Crime that was held in Palermo, Italy, in 2000. It states that any person who knowingly transports money for another person can be charged with money laundering.
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: Howard Steiner
Publisher: Lulu.com
ISBN: 0615237894
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
Finally, there is a one-stop Enhanced Due Diligence reference source! This book clearly presents methods for risk assessing customers and developing policies, procedures and controls for implementing a sustainable AML enhanced due diligence compliance program. The book not only addresses risk models, risk categories and risk elements, but also provides detailed information regarding specific high risk customer types. "The Desktop Reference" contains sample EDD reviews and everything you need to develop and maintain your EDD program, train your staff, and reduce regulatory risk. This book also teaches how to risk assess different customer types, how to conduct customer on-boarding EDD, and how to conduct ongoing EDD reviews. Sample EDD reviews include those for: Cash Intensive Businesses, Charities and NGOs, Foreign Correspondent Banks, and Private Banking Customers. Also covered are: MSBs and NBFIs, Senior Foreign Political Figures, Non Resident Aliens, and generic high risk customer types.
Author: Emile van der Does de Willebois
Publisher: World Bank Publications
ISBN: 0821388967
Category : Law
Languages : en
Pages : 230
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Book Description
This report examines the use of these entities in nearly all cases of corruption. It builds upon case law, interviews with investigators, corporate registries and financial institutions and a 'mystery shopping' exercise to provide evidence of this criminal practice.
Author: Ohad Samet
Publisher: "O'Reilly Media, Inc."
ISBN: 1449368913
Category : Computers
Languages : en
Pages : 29
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Book Description
If you've been tasked with building a team to handle risk management for online payments (RMP), this practical introduction provides a framework for choosing the technologies and personnel you need. Author and financial services executive Ohad Samet explains the components of payments risk management, and presents a coherent strategy and operational approach. You'll learn the answers to questions you're likely to encounter in the first 18 months of operation, with information that Samet has shaped and tested over several years in the industry. This book is ideal whether you intend to be a one-person task force or work with dozens of agents and analysts. Use both a portfolio and behavioral approach to analyzing and optimizing losses Learn about your customers to determine if they can and will meet obligations Build an RMP team for payment risk operations, analytics, and decision automation Use linking mechanisms and velocity models to detect unusual activity among your customers Design system and data architecture to facilitate your activity analysis Implement the decision and loss-reduction mechanisms you need to act on your findings
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: Mohamad Ghazi Janaby
Publisher: Springer
ISBN: 3319422316
Category : Law
Languages : en
Pages : 250
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Book Description
This book investigates the modern privatisation of war. It specifically focuses on the legal regime regulating private military and security company (PMSC) personnel in armed conflicts. The law regulating PMSC personnel is analysed from two perspectives. Firstly, can one of the three following legal statuses established by international humanitarian law – “mercenary”, “combatant” or “civilian” – be applied to PMSC personnel? Secondly, the book employs a context-dependent methodology to explore the legal regime regulating PMSC personnel. It argues that the legal regime regulating PMSC personnel in armed conflicts depends on who hires them: individual states, the United Nations, non-governmental organisations, or armed groups. This approach represents a departure from previous literature, where attention has primarily been paid to the use of PMSCs by states.
Author: Derek Chau
Publisher: John Wiley & Sons
ISBN: 1119381800
Category : Business & Economics
Languages : en
Pages : 309
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Book Description
Effective transaction monitoring begins with proper implementation Anti-Money Laundering Transaction Monitoring Systems Implementation provides comprehensive guidance for bank compliance and IT personnel tasked with implementing AML transaction monitoring. Written by an authority on data integration and anti-money laundering technology, this book offers both high-level discussion of transaction monitoring concepts and direct clarification of practical implementation techniques. All transaction monitoring scenarios are composed of a few common elements, and a deep understanding of these elements is the critical factor in achieving your goal; without delving into actual code, this guide provides actionable information suitable for any AML platform or solution to help you implement effective strategies and ensure regulatory compliance for your organization. Transaction monitoring is increasingly critical to banking and business operations, and the effectiveness of any given solution is directly correlated to its implementation. This book provides clear guidance on all facets of AML transaction monitoring, from conception to implementation, to help you: Detect anomalies in the data Handle known abnormal behavior Comply with regulatory requirements Monitor transactions using various techniques Regulators all over the world are requiring banks and other companies to institute automated systems that combat money laundering. With many variables at play on both the transaction side and the solution side of the equation, a solid understanding of AML technology and its implementation is the most critical factor in successful detection. Anti-Money Laundering Transaction Monitoring Systems Implementation is an invaluable resource for those tasked with putting these systems in place, providing clear discussion and practical implementation guidance.
Author: Brigitte Unger
Publisher: Edward Elgar Publishing
ISBN: 9781849801263
Category : Money Laundering
Languages : en
Pages : 0
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Book Description
In many countries, the real estate sector is vulnerable to money laundering due to a high number of factors including; the high value of assets, price fluctuations and speculation within the market, difficulties in assessing the true value of a house, and the fact that the legal owner is not necessarily the economic owner. In this book, the authors identify a total of 25 characteristics which render a property susceptible to money laundering. The more such characteristics a property exhibits, the more suspicious it becomes. The authors also discover that some of these characteristics weigh heavier than others. Combining economic, econometric and criminological analysis, this multidisciplinary approach shows how to detect criminal investment in the real estate sector. This well-researched book will appeal to government authorities responsible for combating money laundering, international organizations such as the IMF, the UN, the Worldbank and the EU, as well as financial intelligence units in all countries. Real estate associations, real estate research centers, criminologists and economists will also find this book invaluable.
Author: John Madinger
Publisher: CRC Press
ISBN: 143986912X
Category : Business & Economics
Languages : en
Pages : 433
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Book Description
Many changes have occurred in the twenty-five years that have passed since the enactment of the Money Laundering Control Act of 1986. The law has been amended, new underlying crimes have been added, and court decisions have modified its scope. The Act remains an important tool in combating criminal activity. Now in its third edition, Money Laundering: A Guide for Criminal Investigators covers the basics of finding ill-gotten gains, linking them to the criminal, and seizing them. Providing a clear understanding of money laundering practices, it explains the investigative and legislative processes that are essential in detecting and circumventing this illegal and dangerous activity. Highlights of the Third Edition include Important court decisions and changes in federal law since the Second Edition New trends in crime and terrorism financing The rise of money laundering in connecting with major frauds, including the Bernie Madoff case Law and policy shifts related to terrorism and financing since the Obama administration New methods for financial intelligence and the filing of Suspicious Activity Reports How changes in technology have enabled launderers to move funds more easily and anonymously Knowledge of the techniques used to investigate these cases and a full understanding of the laws and regulations that serve as the government’s weapons in this fight are essential for the criminal investigator. This volume arms those tasked with finding and tracing illegal proceeds with this critical knowledge, enabling them to thwart illegal profiteering by finding the paper trail.
