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Summary of Kevin Sullivan's Anti-Money Laundering in a Nutshell

2022-05-16T22:59:00Z Business & Economics
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Release : 2022-05-16T22:59:00Z
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Summary of Kevin Sullivan's Anti-Money Laundering in a Nutshell by : Everest Media,

Download or read book Summary of Kevin Sullivan's Anti-Money Laundering in a Nutshell written by Everest Media,. This book was released on 2022-05-16T22:59:00Z. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Anti-Money Laundering in a Nutshell

2015-07-14 Business & Economics
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Release : 2015-07-14
Genre : Business & Economics
Kind : eBook
Book Rating : 617/5 ( reviews)

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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. This book was released on 2015-07-14. 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.

Mastering Anti-money Laundering and Counter-terrorist Financing

2012 Finance
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Release : 2012
Genre : Finance
Kind : eBook
Book Rating : 034/5 ( reviews)

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Book Synopsis Mastering Anti-money Laundering and Counter-terrorist Financing by : Tim Parkman

Download or read book Mastering Anti-money Laundering and Counter-terrorist Financing written by Tim Parkman. This book was released on 2012. Available in PDF, EPUB and Kindle. Book excerpt: This title provides best practice advice on how to meet anti-money laundering regulations, to help companies put together an effective framework so that they can meet their legal obligations.

Enhanced Due Diligence - The Complete BSA/AML Desktop Reference

2008-06-06 Business & Economics
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Release : 2008-06-06
Genre : Business & Economics
Kind : eBook
Book Rating : 894/5 ( reviews)

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Book Synopsis Enhanced Due Diligence - The Complete BSA/AML Desktop Reference by : Howard Steiner

Download or read book Enhanced Due Diligence - The Complete BSA/AML Desktop Reference written by Howard Steiner. This book was released on 2008-06-06. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Introduction to Online Payments Risk Management

2013-06-07 Computers
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Release : 2013-06-07
Genre : Computers
Kind : eBook
Book Rating : 913/5 ( reviews)

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Book Synopsis Introduction to Online Payments Risk Management by : Ohad Samet

Download or read book Introduction to Online Payments Risk Management written by Ohad Samet. This book was released on 2013-06-07. Available in PDF, EPUB and Kindle. Book excerpt: 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

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