The Money Laundering and Financing of Terrorism Eco-System PDF Download

Author: Kannan Subramanian
Publisher: Notion Press
ISBN: 1945497645
Category : Political Science
Languages : en
Pages : 344

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Book Description
"A guide that illustrates the methods, mechanisms, techniques and instruments to launder money and finance terrorism. It explains risk-based approaches to minimise the risk at the national level and for each sector of the eco-system. Mr. T.S. Krishnamurthy Former Chief Election Commissioner, Government of India; Former Chief Commissioner of Income Tax-Mumbai, India. This book not only examines thoroughly the problem in a comprehensive manner with interesting case studies but also provides governance measures to mitigate the evil. Kannan has rightly stressed the need for proper evidence gathering, domestic co-ordination of various agencies and international co-operation to deal with this global priority. His suggestion to implement a National Integrity System is worth the attention of a government. Dr S.Ramamurthy – Fiscal Management Expert, formerly with the IMF The book throws light on relevant methodologies and tools to mitigate the adverse impact of money laundering. It explains a risk-based approach to mitigate the risks at the entity and national levels. It is very valuable book to those practitioners combating money laundering and countering the financing of terrorism world-wide."

Author: Rafay, Abdul
Publisher: IGI Global
ISBN: 179988760X
Category : True Crime
Languages : en
Pages : 374

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Book Description
During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. The past few decades have been eventful for these issues. Today, tackling money laundering and terrorism financing are considered key issues in developed and developing countries alike. Eradication of money laundering and terrorism financing through a holistic approach of awareness, prevention, and enforcement is a current need. It has enabled the birth of new regulatory regimes based on strict compliance, robust processes, and technology. One of the many problems with this is the lack of general awareness about all these issues among various stakeholders including researchers and practitioners. Money Laundering and Terrorism Financing in Global Financial Systems deepens the discourse about money laundering, terrorism financing, and risk management in a modern-day environment. It provides a fascinating and invaluable guide for understanding the theory, practice, and cases of these topics. Split into two sections, the first being money laundering and terrorism financing and the second being financial governance and risk management, the chapters create comprehensive knowledge on these acts of crime in the financial industry by defining the crimes themselves, the many challenges and impacts, and potential solutions. This book is ideal for government officials, financial professionals, policymakers, academicians, business professionals, managers, IT specialists, researchers, and students.

Author: Paul Allan Schott
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
Efforts to launder money and finance terrorism have been evolving rapidly in recent years in response to heightened countermeasures. The international community has witnessed the use of increasingly sophisticated methods to move illicit funds through financial systems across the globe and has acknowledged the need for improved multilateral cooperation to fight these criminal activities. The World Bank and International Monetary Fund have developed this guide to help countries understand the new international standards. It will hopefully serve as a comprehensive source of practical information for countries to fight money laundering and terrorist financing. It discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations, such as the Bank and the IMF, play in the process. This guide is a tool for countries to establish and improve their legal and institutional frameworks and their preventive measures according to international standards and best practices. -- From Foreword (p. ix).

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451815085
Category : Social Science
Languages : en
Pages : 203

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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.

Author: William C. Gilmore
Publisher: Council of Europe
ISBN: 9287154678
Category : Law
Languages : en
Pages : 348

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Book Description
This is the third edition of this publication which explores key issues in the fast evolving field of money laundering and terrorist financing, and which has been restructured so as to fully reflect the high international priority given to tackling the financing of terrorism since September 2001. It takes into account recent developments such as the revised recommendations of the Financial Action Task Force on Money Laundering (FATF), as agreed in June 2003; pan-European responses and the 2001 EU Directive; and recent initiatives taken by the United Nations, FATF, the Organization of American States and other organisations. The publication is designed for a wide audience, including government officials and regulators, officials in banks and non-banking financial institutions, professions such as lawyers and accountants, academics and students.

Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1498320686
Category : Social Science
Languages : en
Pages : 246

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Book Description
This report provides a summary of the anti-money laundering/combating the financing of terrorism (AML/CFT) measures in place in the People’s Republic of China (China)1 as at the date of the onsite visit (July 9–27, 2018). It analyzes the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of China’s AML/CFT system and provides recommendations on how the system could be strengthened. China has undertaken a number of initiatives since 2002 that have contributed positively to its understanding of ML/TF risk, although some important gaps remain. Its framework for domestic AML/CFT cooperation and coordination is well established.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451933592
Category : Social Science
Languages : en
Pages : 310

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Book Description
A detailed assessment report on Anti-Money Laundering and Combating the Financing of Terrorism for Mauritius is discussed. Mauritius is well placed to capitalize on its national strategy to diversify its economy into global financial services by taking advantage of its linkages with both African and long-standing arrangements with the larger Asian economies. Additionally, Mauritius intends to offer new products in Islamic financial services and wealth management. The investigative and prosecutorial authorities have the necessary powers to execute their respective functions.

Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1475539371
Category : Social Science
Languages : en
Pages : 257

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Book Description
This report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT) measures in place in Italy as at the date of the onsite visit. It analyzes the level of compliance with the Financial Action Task Force recommendations and the level of effectiveness of Italy's AML/CFT system, and provides recommendations on how the system could be strengthened. Italy has a mature and sophisticated AML/CFT regime, with a correspondingly well-developed legal and institutional framework. Law enforcement agencies access, use, and develop good quality financial intelligence. Financial sector supervisors have been using a risk-based approach to varying degrees, but their supervisory tools could be improved.

Author: World Bank
Publisher: World Bank Publications
ISBN: 9780821364321
Category : Business & Economics
Languages : en
Pages : 494

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Book Description
In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.

Author:
Publisher: World Bank Publications
ISBN: 0821379135
Category : Business & Economics
Languages : en
Pages : 304

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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.