New PDF release: Anti-Money Laundering: Awareness and Compliance

By Kevin Sullivan

ISBN-10: 1430261609

ISBN-13: 9781430261605

the easiest 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 periods, to assist curtail criminality.

Author Kevin Sullivan, previously certainly one of long island State’s major anti–money laundering brokers and now a specialist to monetary associations, explains what funds laundering is, the way it occurs, and the way to avoid it. A consultant for monetary group of workers regulated via the financial institution Secrecy Act, in addition to regulatory and legislation enforcement brokers, AntiMoney Laundering: wisdom and Compliance exhibits intimately the stairs required to conform with the legislation in all regards whereas heading off the hefty fines noncompliance brings.

Besides supplying an realizing of the legislations and its standards, in addition to the instruments and tactics readers might want to strive against cash laundering, Sullivan takes the reader on a "ride alongside" that weaves its method throughout the dynamics of cash laundering. The journey starts off with a proof of who the undesirable men are, why they do what they do, and what sort of crimes they devote that require cash laundering. subsequent, Sullivan indicates how and while a number of executive rules have been enacted and the way these legislation impact the undesirable men. Sullivan then studies what makes up a high quality AML application and exhibits how one can to cause like an investigator. ultimately, he completes the journey alongside via going behind the curtain 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 how one can fill out the correct forms yet research the place all of it is going and the way details compiled by means of monetary associations bring about arrests and prosecutions.

Bottom line: should you paintings for a bank ruled through the financial institution Secrecy Act—or are in an prone to enjoying an element in a money-laundering scheme—you want this ebook at your fingertips to assist remedy difficulties, agree to the legislation, and make it tougher 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 rules referring to 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 varieties (like the SAR, or Suspicious job file) thoroughly and legally
  • The investigative procedure and the way to paintings with legislations enforcement group of workers

Who this publication is for

Every bank within the U.S. needs to conform to the financial institution Secrecy Act and, hence, should have an Anti-Money Laundering application. This e-book is hence crucial examining for somebody operating in organisations lined via the financial institution Secrecy Act. It’s additionally a convenient advisor for regulators and law-enforcement brokers who have to comprehend anti-money laundering thoughts and the specifics of the laws in simple English in addition to educate staff effectively.

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Anti-Money Laundering: Awareness and Compliance by Kevin Sullivan


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