Mastering Anti- Money Laundering: What I Have Learned about Dirty Money and What You Need to Know

This book provides details on the origins of money laundering and how money laundering has evolved to date and the various money laundering methods. The book outlines international money laundering control agencies and their role in fighting money laundering. It gives best practice recommendations o [...]
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This book provides details on the origins of money laundering and how money laundering has evolved to date and the various money laundering methods. The book outlines international money laundering control agencies and their role in fighting money laundering. It gives best practice recommendations on how financial institutions can protect themselves from becoming a conduit for money laundering. The book provides new compliance officers with information on how to succeed in their compliance career. It addresses significant deficiencies of two banks by providing a case study on each. It talks about how financial institutions that provide trade finance services can tighten their AML regulatory controls to prevent being used for Trade-Based Money Laundering. The book elucidates on how a financial institution can create a risk culture by ensuring senior management leadership and commitment towards integrity and by creating core values that resonate with its risk tolerance. It addresses how firms can instill a risk-based culture through its hiring practices. The book also highlights the whistleblowing process.