By Kevin Sullivan
the simplest wager is that money laundering is a $2 trillion-dollar-a-year undefined. It’s no ask yourself that each bank within the U.S.—including banks, insurers, and brokerages—are required to have an anti–money laundering software, besides annual education classes, to assist curtail illegal activity.
Author Kevin Sullivan, previously one in every of manhattan State’s prime anti–money laundering brokers and now a expert to monetary associations, explains what funds laundering is, the way it occurs, and the way to avoid it. A advisor for monetary group of workers regulated by means of the financial institution Secrecy Act, in addition to regulatory and legislations enforcement brokers, Anti–Money Laundering: knowledge and Compliance exhibits intimately the stairs required to conform with the legislation in all regards whereas fending off the hefty fines noncompliance brings.
Besides delivering an knowing of the legislation and its standards, in addition to the instruments and methods readers might want to strive against cash laundering, Sullivan takes the reader on a "ride alongside" that weaves its manner during the dynamics of cash laundering. The trip starts off with an evidence of who the undesirable men are, why they do what they do, and what sort of crimes they devote that require funds laundering. subsequent, Sullivan indicates how and while a number of executive laws have been enacted and the way these legislation have an effect on the undesirable men. Sullivan then studies what makes up a top quality AML software and exhibits how one can to cause like an investigator. eventually, he completes the trip alongside by means of going backstage to teach what occurs after the monetary associations have performed their AML tasks and handed the torch to legislations enforcement. You’ll not just see the right way to fill out the right kind forms yet research the place all of it is going and the way details compiled through monetary associations bring about arrests and prosecutions.
Bottom line: for those who paintings for a bank ruled via the financial institution Secrecy Act—or are in an vulnerable to taking part in a component in a money-laundering scheme—you desire this ebook at your fingertips to assist clear up difficulties, agree to the legislations, and make it tougher for criminals to hide their crimes.
What youll learn
- How funds is laundered and its impression at the economic system
- All in regards to the legislation, principles, and rules referring to cash laundering
- How to create and carry a formal anti-money laundering application
- How to prevent the steep fines for noncompliance
- How to fill out many of the varieties (like the SAR, or Suspicious job file) properly and legally
- The investigative strategy and the way to paintings with legislations enforcement body of workers
Who this booklet is for
Every bank within the U.S. needs to conform to the financial institution Secrecy Act and, for that reason, should have an Anti-Money Laundering software. This publication is accordingly crucial examining for a person operating in corporations lined via the financial institution Secrecy Act. Its additionally a convenient advisor for regulators and law-enforcement brokers who have to comprehend anti-money laundering ideas and the specifics of the laws in undeniable English in addition to educate staff effectively.
Read or Download Anti-Money Laundering: Awareness and Compliance PDF
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Extra info for Anti-Money Laundering: Awareness and Compliance
Anti-Money Laundering: Awareness and Compliance by Kevin Sullivan