Includes index. Includes bibliographical references and index.
Contents:
1. What is money laundering? -- 2. The process of money laundering -- 3. International money-laundering regulation: the role of the financial action task force -- 4. The EC money laundering directives -- 5. UN resolutions -- 6. The UK regulatory framework -- 7. How money-laundering-deterrence regulations are applied in the UK: the Joint Money Laundering Steering Group -- 8. The Wolfsberg principles -- 9. The US regulatory framework -- 10. Financial sanctions -- 11. Risk management and money-laundering deterrence -- 12. The role of the money laundering reporting officer -- 13. Know your customer -- 14. Money laundering training -- 15. Retail customer identification -- 16. Corporate customer identification -- 17. Politically exposed persons -- 18. Non-face-to-face customers -- 19. Suspicious conduct and transactions -- 20. Unusual transactions -- 21. Investigating suspicions -- 22. Ongoing monitoring -- 23. Tipping off -- 24. Correspondent banking -- 25. Record-keeping -- 26. Money-laundering-deterrence software -- 27. Country profiles -- Appendix: Transparency International's 2013 Corruption Perceptions Index.
Summary:
"Effectively implement comprehensive anti-money laundering regulationsHandbook 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"-- Provided by publisher. "Details the most up-to-date anti-money laundering regulations and provides practical guidance toward implementation"-- Provided by publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.