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The Critical Handbook Of Money Laundering
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Book Synopsis The Critical Handbook of Money Laundering by : Petrus C. van Duyne
Download or read book The Critical Handbook of Money Laundering written by Petrus C. van Duyne and published by Springer. This book was released on 2018-12-30 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: The overarching aim of this book is to bring order to the subjects of money laundering and of the anti-money laundering frameworks that have been written over the past thirty years. It provides scholars, practitioners and policy makers with a guide to what is known of the subject thus far. The book examines critically the underlying assumptions of research and of policy-making in the field and offers a systematic review of the most important policy and academic literature on the subject.
Book Synopsis Handbook of Anti-Money Laundering by : Dennis Cox
Download or read book Handbook of Anti-Money Laundering written by Dennis Cox and published by John Wiley & Sons. This book was released on 2014-12-03 with total page 756 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Research Handbook on Money Laundering by : Brigitte Unger
Download or read book Research Handbook on Money Laundering written by Brigitte Unger and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the practice of disguising the illicit origins of money dates back thousands of years, the concept of money laundering as a multidisciplinary topic with social, economic, political and regulatory implications has only gained prominence since the 1980s. This groundbreaking volume offers original, state-of-the-art research on the current money laundering debate and provides insightful predictions and recommendations for future developments in the field. The contributors to this volume academics, practitioners and government representatives from around the world offer a number of unique perspectives on different aspects of money laundering. Topics discussed include the history of money laundering, the scale of the problem, the different types of money laundering, the cost to the private sector, and the effectiveness of anti-money laundering policies and legislation. The book concludes with a detailed and insightful synthesis of the problem and recommendations for additional steps to be taken in the future. Students, professors and practitioners working in economics, banking, finance and law will find this volume a comprehensive and invaluable resource.
Book Synopsis Methods of Money Laundering by : Fabian Teichmann
Download or read book Methods of Money Laundering written by Fabian Teichmann and published by Kluwer Law International B.V.. This book was released on 2021-10-08 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: How exactly is money laundered? The answer to this question is not well understood – and for this very reason, costly prevention measures remain ineffective. This much-needed book provides the first in-depth explanation of the methods used by intelligent criminals to amass wealth from large-scale trafficking in drugs, arms, and human beings, as well as from less odious crimes. The author shows clearly not only why existing approaches to combat money laundering are bound to fail but also how money launderers easily circumvent such measures. Based on qualitative interviews with both alleged criminals and prevention experts, detailed illustrations of concrete steps taken by intelligent and specialized perpetrators of money laundering allow practitioners to anticipate and effectively combat this type of crime. The author fully documents such aspects of money launderers’ behaviour as the following: resources required; dealing with detection risks; and international mobility. A central chapter covers in depth the various markets, institutions, and facilities that are particularly favourable to money laundering, and original insights accompany the presented findings with relevant quotations from the interviewees. The author offers tailored recommendations for different professional groups, including bankers, prosecutors, defence lawyers, and judges. In its critical questioning of the logic behind anti-money laundering regulations and their costly implementation, the book demonstrates that either the existing measures of prevention are drastically tightened and extended to almost all branches of the economy or the financial sector is relieved of the burden it bears and alternative ways of fighting this type of crime are sought instead. It will prove enormously valuable to understanding and investigating white-collar and financial crime, and be welcomed by practitioners and professionals in financial markets, banking, criminal lawyers, and compliance experts, as well as academia.
Book Synopsis Anti-Money Laundering Compliance and the Legal Profession by : Sarah Kebbell
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.
Book Synopsis The Risk-Based Approach to Combating Money Laundering and Terrorist Financing by : Ehi Eric Esoimeme
Download or read book The Risk-Based Approach to Combating Money Laundering and Terrorist Financing written by Ehi Eric Esoimeme and published by . This book was released on 2015-07-21 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Money Laundering written by Doug Hopton and published by Routledge. This book was released on 2020-10-28 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Money Laundering Blacklists by : Michele Riccardi
Download or read book Money Laundering Blacklists written by Michele Riccardi and published by Taylor & Francis. This book was released on 2022-01-31 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the criteria used by Financial Action Task Force (FATF) and the European Union to blacklist jurisdictions at high-risk of money laundering? What are the countries at highest risk according to Panama Papers and FinCEN files? Where do criminals move their illicit money, according to judicial and investigative evidence? This book answers these questions. It is an unprecedented study on the countries at highest risk of attracting money laundering and organised crime proceeds – and how they are identified as such by scholars, policy-makers and anti-money laundering (AML) practitioners. It targets an issue which is central to the policy debate, in the media, but is under-studied. This book is divided into two parts. Part I discusses the concept of money laundering risk, its main determinants, and carries out a review of extant country ratings, ranging from official blacklists and grey lists, to media leaks and scholarly papers. Part II discusses the weaknesses and the myths behind the current ratings and proposes a new approach to assess the risk of money laundering across countries. With a critical research perspective, empirically driven, this book aims to satisfy both scholars and students – in particular from criminology, economics, and international relations – and practitioners from banks, professional firms, and AML authorities.
Book Synopsis Chasing Dirty Money: The Fight Against Money Laundering by : Peter Reuter
Download or read book Chasing Dirty Money: The Fight Against Money Laundering written by Peter Reuter and published by Peterson Institute. This book was released on 2005 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally developed to reduce drug trafficking, efforts to combat money foundering have broadened over the years to address other crimes and, most recently, terrorism. In this study, [the authors] look at the scale and characteristics of money laundering, describe and assess the current anti-money laundering regime, and make proposals for its improvement.-Back cover.
Book Synopsis The Oxford Handbook of Organized Crime by : Letizia Paoli
Download or read book The Oxford Handbook of Organized Crime written by Letizia Paoli and published by Oxford Handbooks. This book was released on 2014 with total page 713 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook explores organized crime, which it divides into two main concepts and types: the first is a set of stable organizations illegal per se or whose members systematically engage in crime, and the second is a set of serious criminal activities that are typically carried out for monetary gain.
Book Synopsis Black Finance by : Donato Masciandaro
Download or read book Black Finance written by Donato Masciandaro and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Black Finance will be a valuable and accessible tool for scholars and academics, principally in economics, though also in politics and law, as well as for regulators and supervisory institutions.
Download or read book Money Laundering written by John Madinger and published by CRC Press. This book was released on 2011-12-14 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Anti-Money Laundering by : Wouter H. Muller
Download or read book Anti-Money Laundering written by Wouter H. Muller and published by John Wiley & Sons. This book was released on 2007-06-13 with total page 834 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-Money Laundering is the definitive reference on money laundering and practice. First an outline will be given of the general approach taken by supra-national organisations like the United Nations and the European Council. Next the approach taken by international organisations and initiatives on the basis of the supra-national initiatives will be outlined by senior members of those organisations. A number of countries will then describe their specific prevention legislation. Countries involved will all be member-countries of the FATF (Financial Action Task Force on Money Laundering). Finally there will be an overview to enable the reader to make a comparison between the most important topics of money laundering legislation and rules in the different countries.
Book Synopsis The Art of Money Laundering by : Dominic N Suszek
Download or read book The Art of Money Laundering written by Dominic N Suszek and published by . This book was released on 2020-09-26 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money laundering is one of the main 'engines of crime' sustaining global criminal enterprises and is worth billions of dollars. The increasingly global and virtual nature of financial services and the emergence of technology-enabled products, such as crypto currencies and anonymization tools, have made the task of combating it more difficult.To complicate things, controlling much of this mega-illicit activity are global money laundering syndicates, who offer their services to criminal networks, and are highly adept at exploiting gaps in the financial systems. Another complication to the compliance function is the complex legal requirements set by each country to limit the international flows of illicit funds. These are the challenging conditions within which anti-money laundering (AML) and Counter Terrorism Financing (CTF) measures currently operate.Money laundering takes place in all forms and shapes. There are no social, economic, geographic, or professional boundaries immune from abuse which can facilitate money laundering. Artwork, antiquities, antiques, precious stones, and exotic cars are among a few of the items frequently used. This book will explore elements of money laundering that touch all these areas.To understand money laundering, one must understand the history of money laundering and the evolution of the inclusion of priceless items as a means of laundering illegitimate and elicit funds. This guide is an essential tool to learn, understand, expand, and maintain a proper understanding of money laundering flows and how to prepare the financial industry for evolving risks.I grew up in Miami in the 80's and early 90's, a time when money laundering and drug trafficking through the city reached its peak. In fact, my banking career started at the height of the Cocaine Cowboy era in the mid-80's. At this time financial regulations were still in their infancy and technology to manage the detection and monitoring of white-collar financial crimes by financial institutions did not yet exist. I started off as a part time teller at a large Miami Beach bank while still in high school. This experience provided me with my first exposure to how billions of dollars in cash was making its way into banks across the city. I often refer to Miami as ground zero for money laundering, as well as for my education on the subject. I grew professionally inside Miami banks by securing positions in audit departments where I developed firsthand knowledge of the various facets of banking. In the early 90s I continued to grow professionally, shifting my focus towards the growing realm of financial technology. At the time, cutting edge technology consisted of personal computers which were still in their early stages of development, and there was a sharp learning curve for myself and my colleagues trying to understand how to use shared desktop terminals and PC's for the first time. My experience with technology within the financial sphere expanded in the late 90's and 2000's when I grew to develop a greater understanding of the role of software and how certain programs could be used in combination with advancing technology - that is, newer, faster desktop computers and laptops - to facilitate the implementation of infrastructure within institutions that could be used to both enhance operational efficiency, as well as create processes that could be utilized to ensure that institutions could comply with new and evolving regulatory requirements. The bulk of these regulations would come to be encompassed within the USA PATRIOT Act.
Book Synopsis Technology and Anti-money Laundering by : Dionysios S. Demetis
Download or read book Technology and Anti-money Laundering written by Dionysios S. Demetis and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . a stimulating look at the hard work done in many specialisms that collectively seek to combat money laundering. Sally Ramage, The Criminal Lawyer While there is much noise about the control of money laundering, there are few whose work is able to rise above the din and in clear notes contribute in a constructive manner to the debate. This work is not only an intelligent discussion of many of the substantive issues relating to the control of money laundering, but a great deal more. Drawing on systems theory and seeing the control of money laundering particularly from the standpoint of technology as complex and integral to the proper and effective operation of financial institutions, the author addresses in a novel and practical way the design and management of risk based compliance. The theory is tested, not only in terms of viable technology, but also in an actual case study involving real issues in a bank. Consequently, those concerned with the formulation of policy, the design of controls and procedures and the implementation of such will find the contribution that this book makes of great significance. Barry Rider, Bryan Cave LLP, UK This book avoids the usual trap of interminably listing AML war stories. Instead Dr. Demetis presents a solid theoretical foundation for AML research and practice. He gives a damning critique of the way so-called technological solutions are used uncritically by some AML professionals, and analyses the risk-based approach, describing its problems and ways of avoiding them. He presents a fascinating in-depth case study of a financial institution, and a short case of a bank using technology to improve its True Positive Rate substantially to 17 per cent. Ian Angell, London School of Economics, UK Dr Demetis makes a great contribution to our understanding of anti-money laundering at both a systems and practical level. [He] writes as someone who not only thinks deeply about these issues but, as the in-depth case examples show, has tried to see how far technology can address some audacious goals. Readers will learn that while risk-based approaches to anti-money laundering have been an interesting regulatory development, practical implementation, despite the hype of technology vendors, is still at a primordial state . Michael Mainelli, Gresham College and Z/YEN Group, UK This insightful book examines the influence of information systems on anti-money laundering (AML). It builds on systems theory in order to develop a coherent theoretical framework that can be used for AML research. By using a case study of a major financial institution in the EU-area, a number of technological influences on AML are deconstructed and are used to examine the role that technology plays within AML. The book provides a systems theoretical description of the effects of technology on AML and offers considerations on the risk-based approach the most important contemporary evolution within regulatory initiatives on AML and terrorism financing. Technology and Anti-Money Laundering will appeal to researchers of financial crime and AML as well as those interested in information systems and systems theory. A number of considerations for practitioners are also discussed, including the risk-based approach and the integration of AML-technology in financial institutions, as well as an important data-mining application. Money Laundering Reporting Officers (MLROs) in financial institutions and central bankers will also find much of interest in this book.
Book Synopsis A Comparative Guide to Anti-money Laundering by : Mark Pieth
Download or read book A Comparative Guide to Anti-money Laundering written by Mark Pieth and published by Edward Elgar Publishing. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efforts to combat the phenomenon of money laundering are examined in detail in this book, particularly in relation to how AMI (anti-money laundering) rules and regulations impact on four major cross-border banking centres in the world.
Book Synopsis Anti-Money Laundering in a Nutshell by : Kevin Sullivan
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.
