Author: Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Money Laundering Trends and Typologies Report
Author: Cayman Islands
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 145180976X
Category : Social Science
Languages : en
Pages : 17
Book Description
This paper focuses on observance of standards and codes on the Financial Action Task Force (FATF) recommendations for antimoney laundering and combating the financing of terrorism (AML/CFT) for the Cayman Islands. The assessment reveals that the Cayman Islands’s legal framework for combating money laundering and terrorism financing is comprehensive. All designated categories of offences enumerated in the FATF 40 Recommendations are predicate offences under the Cayman law. The criminalization of FT is in accordance with FATF requirements. The confiscation regime meets most standards and is effective.
Reference Guide to Anti-money Laundering and Combating the Financing of Terrorism
Author: Paul Allan SchottPublisher: World Bank Publications
ISBN: 0821365142
Category : Business & Economics
Languages : en
Pages : 292
Book Description
This second edition of the Reference Guide is a comprehensive source of practical information on how countries can fight money laundering and terrorist financing. Aimed at helping countries understand the new international standards, it discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations play in the process. The Reference Guide is a valuable tool for establishing effective regimes to successfully prevent, detect, and prosecute money laundering and terrorist financing.
Informal Funds Transfer Systems
Author: Mr.Samuel Munzele MaimboPublisher: International Monetary Fund
ISBN: 9781589062269
Category : Business & Economics
Languages : en
Pages : 74
Book Description
Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantly in the Middle East and South Asia. The paper examines the historical and socioeconomic context within which the hawala has evolved, the operational features that make it susceptible to potential financial abuse, the fiscal and monetary implications for hawala-remitting and hawala-recipient countries, and current regulatory and supervisory responses.
1st Review of the Suspicious Activity Reporting System (SARS).
Author: Gibraltar
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1451815085
Category : Social Science
Languages : en
Pages : 203
Book Description
Gibraltar’s Detailed Assessment Report on Anti-Money Laundering (AML) and Combating the Financing of Terrorism is reviewed. The principal AML risk to Gibraltar is lodged in its professional sector, which is likely to be involved in the layering and integration of proceeds of crime. There is also some risk to Gibraltar at the placement stage, in connection with drug trafficking, migrant smuggling, and organized crime in southern Spain. The Financial Services Commission in Gibraltar has established a strong, risk-based framework for financial institutions for AML.
Preventing Money Laundering and Terrorist Financing
Author: Publisher: World Bank Publications
ISBN: 0821379135
Category : Business & Economics
Languages : en
Pages : 304
Book Description
"Money laundering and terrorist financing are serious crimes that affect not only those persons directly involved, but the economy as a whole. According to international standards, every bank has the obligation to know its customers and to report suspicious transactions. Although these obligations sound straightforward, they have proved challenging to implement. What information precisely has to be gathered? How should it be recorded? If and when does one have to file a suspicious transaction report? It is here that a supervisor can play a crucial role in helping supervised institutions; first, in understanding the full extent of the obligations of Customer Due Diligence and Suspicious Transaction Reports (STR) and, second, in ensuring that those obligations are not just words on paper but are applied in practice. Effective supervision is key to the success of a country's AML/CFT system. In this regard, field work in both developed and developing countries has shown an overall low compliance in the area of supervision of banks and other financial institutions; supervisory compliance is indeed generally lower than the average level of compliance with all Financial Action Task Force recommendations. As a result, by providing examples of good practices, this book aims to help countries better conform to international standards. In this regard, this handbook is specifically designed for bank supervisors.
Countering the Financing of Terrorism
Author: Thomas J. BierstekerPublisher: Routledge
ISBN: 1134155360
Category : Political Science
Languages : en
Pages : 349
Book Description
Groups committing acts of terrorism have adapted their means of financing to elude detection since the 9/11 attacks in the United States. Surveying the global community’s multi-year effort to cut off terrorist funding, this volume offers a much-needed analysis of a complex, widely discussed, yet poorly understood subject. While books on terrorism have touched upon the topic, this is the first comprehensive, balanced, and scholarly overview of terrorist financing, its methods, and efforts to counter it. Bringing together leading analysts of terrorism, international relations, global finance, law, and criminology, Countering the Financing of Terrorism provides a critical assessment of the international effort to restrict terrorist financing. It evaluates the costs and benefits and offers recommendations for more effective policies for the future.
Implications for Central Banks of the Development of Electronic Money
Author: Bank for International SettlementsPublisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 40
Book Description
Georgia
Author: International Monetary Fund. Legal Dept.Publisher: International Monetary Fund
ISBN: 1475529988
Category : Social Science
Languages : en
Pages : 467
Book Description
The Georgian antimoney laundering (AML) and combating the financing of terrorism (CFT) regime has significantly improved since 2007. However, technical deficiencies, poor implementation, and limited resources undermine the effectiveness of the financial intelligence unit (FIU) and AML/CFT supervision. The country has a comprehensive legal framework in place criminalizing both ML and FT as autonomous offenses and no shortcomings have been identified. It has also established a framework to implement the relevant United Nations Security Council Resolutions (UNSCRs).