Download Anti-Money Laundering: Awareness and Compliance by Kevin Sullivan PDF

By Kevin Sullivan

the easiest bet is that money 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 software, besides annual education classes, to aid curtail criminality.

Author Kevin Sullivan, previously certainly one of manhattan State’s best 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 team of workers regulated via the financial institution Secrecy Act, in addition to regulatory and legislation enforcement brokers, AntiMoney Laundering: knowledge and Compliance exhibits intimately the stairs required to conform with the legislations in all regards whereas keeping off the hefty fines noncompliance brings.

Besides offering an realizing of the legislation and its necessities, in addition to the instruments and procedures readers might want to strive against funds laundering, Sullivan takes the reader on a "ride alongside" that weaves its approach in the course of the dynamics of cash laundering. The experience starts off with an evidence of who the undesirable men are, why they do what they do, and how much crimes they dedicate that require funds laundering. subsequent, Sullivan exhibits how and whilst quite a few govt 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 find out how to to cause like an investigator. eventually, he completes the journey alongside through going behind the curtain to teach what occurs after the monetary associations have performed their AML tasks and handed the torch to legislation enforcement. You’ll not just see how you can fill out the right kind bureaucracy yet study the place all of it is going and the way details compiled through monetary associations bring about arrests and prosecutions.

Bottom line: for those who paintings for a bank ruled by means of the financial institution Secrecy Act—or are in an vulnerable to enjoying a component in a money-laundering scheme—you desire this booklet at your fingertips to assist clear up difficulties, agree to the legislation, and make it more durable for criminals to hide their crimes.

What you’ll learn

  • How cash is laundered and its effect at the economic climate
  • All in regards to the legislation, ideas, and rules touching on cash laundering
  • How to create and carry a formal anti-money laundering software
  • How to prevent the steep fines for noncompliance
  • How to fill out some of the varieties (like the SAR, or Suspicious task record) safely and legally
  • The investigative technique and the way to paintings with legislations enforcement body of workers

Who this ebook is for

Every bank within the U.S. needs to agree to the financial institution Secrecy Act and, as a result, should have an Anti-Money Laundering application. This ebook is for that reason crucial analyzing for somebody operating in firms lined via the financial institution Secrecy Act. It’s additionally a convenient consultant for regulators and law-enforcement brokers who have to comprehend anti-money laundering thoughts and the specifics of the rules in simple English in addition to educate staff effectively.

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