Anti-Money Laundering: Awareness and Compliance - download pdf or read online

By Kevin Sullivan

the simplest wager is that cash 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 application, besides annual education classes, to assist curtail criminality.

Author Kevin Sullivan, previously certainly one of big apple 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 body of workers regulated by way of the financial institution Secrecy Act, in addition to regulatory and legislations enforcement brokers, AntiMoney Laundering: information and Compliance exhibits intimately the stairs required to conform with the legislations in all regards whereas fending off the hefty fines noncompliance brings.

Besides offering an realizing of the legislation and its necessities, in addition to the instruments and techniques readers might want to wrestle cash laundering, Sullivan takes the reader on a "ride alongside" that weaves its manner in the course of the dynamics of cash laundering. The trip begins with a proof of who the undesirable men are, why they do what they do, and how much crimes they devote that require funds laundering. subsequent, Sullivan exhibits how and whilst a variety of executive rules have been enacted and the way these legislation impact the undesirable men. Sullivan then stories what makes up a top quality AML software and exhibits tips to to cause like an investigator. eventually, he completes the experience alongside by means of going behind the curtain to teach what occurs after the monetary associations have performed their AML tasks and handed the torch to legislation enforcement. You’ll not just see find out how to fill out the right kind forms yet research the place all of it is going and the way info compiled through monetary associations bring about arrests and prosecutions.

Bottom line: should you paintings for a bank ruled by means of the financial institution Secrecy Act—or are in an prone to taking part in a component in a money-laundering scheme—you want this publication at your fingertips to aid remedy difficulties, conform to the legislation, and make it more durable for criminals to hide their crimes.

What you’ll learn

  • How cash is laundered and its influence at the economic system
  • All concerning the legislation, ideas, and laws bearing on cash laundering
  • How to create and bring a formal anti-money laundering application
  • How to prevent the steep fines for noncompliance
  • How to fill out many of the types (like the SAR, or Suspicious task record) adequately and legally
  • The investigative procedure and the way to paintings with legislation enforcement group of workers

Who this publication is for

Every bank within the U.S. needs to agree to the financial institution Secrecy Act and, for that reason, should have an Anti-Money Laundering software. This booklet is hence crucial studying for a person operating in companies lined via the financial institution Secrecy Act. It’s additionally a convenient consultant for regulators and law-enforcement brokers who have to comprehend anti-money laundering recommendations and the specifics of the rules in undeniable English in addition to educate staff effectively.

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Anti-Money Laundering: Awareness and Compliance by Kevin Sullivan

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