laundering - Blog - Global Risk Community2024-03-28T12:06:42Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/launderingAnti-money Laundering Carry out Ransomware Attackshttps://globalriskcommunity.com/profiles/blogs/anti-money-laundering-carry-out-ransomware-attacks2020-11-20T20:06:50.000Z2020-11-20T20:06:50.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>As there is an increase in money transaction activities. It has been observed that in past few years, instances of money laundering have been increased. These incidences have become very challenging for finance sectors and financial institutions. This has resulted in the augmented adoption of anti-laundering software. The accelerating number of cultured cyber-attacks have raised the concerns of significant losses in a number of industries and organization. It is the need of the hour to adopt Anti-money laundering (AML) software in order to get protected by this criminal activity. The growing volume of global transactions has also driven the deployment of AML solutions in financial institutions, and banks.</p><p></p><p><img src="https://www.kbvresearch.com/images/blog/anti-money-laundering.jpg" alt="Anti-money Laundering" /></p><p></p><h2><strong>What is Anti-money Laundering?</strong></h2><p>Anti-money Laundering means the rules, regulations, laws, policies, and procedures planned in order to prevent the illegal <a href="https://www.kbvresearch.com/anti-money-laundering-market/">money laundering activities</a> by criminals who try to gather funds as a legitimate income.</p><p>Anti-money laundering (AML) software is one of the solutions that allow banks and other financial institutions to monitor and observe the customer’s behavior for suspected criminal financial activities with the help of automated processes.</p><p></p><h2><strong>Types of Anti-money laundering (AML) software</strong></h2><p>Several types of AML solutions are available including customer’s identity management, currency transaction reporting, transaction monitoring, compliance management, etc.</p><ol><li><strong>Compliance Management</strong></li></ol><p>It is a program that is used to track, monitor, and audit the activities of the businesses. Compliance Management software in AML solutions is helpful for the managers to handle a wide range of regulatory and compliance processes. So they perform a risk assessment and ensure accountability in the organization.</p><ol start="2"><li><strong>Currency Transaction Reporting</strong></li></ol><p>It keeps a record of the transactions done by the customers. The adoption of these software has brought a revolution in the financial sectors to deal with money laundering and financial crimes.</p><ol start="3"><li><strong>Customer Identity Management</strong></li></ol><p>This software offers the organization to securely capture the identity of the customer and manage it with safety. It also controls the customer’s access to applications and services. This software can be deployed in private clouds or on-premises.</p><ol start="4"><li><strong>Transaction Monitoring</strong></li></ol><p>Since monitoring the transactions is an important part of the regulatory requirement under AML obligations. The Transaction Monitoring software helps the financial institutions and banks regulate the transactions processes automatically and more efficiently.</p><p></p><h2><strong>Money laundering: a big threat in finance</strong></h2><p>Cybercriminals do a deep study of the organizations and discover all the possibilities and situations that are susceptible to commit fraud. They carry out ransomware attacks, in which they demand virtual currencies such as Bitcoin, Ripple, and Ether. Since these virtual currencies are not issued or preserved by any central organization of the country, that is why it has become a soft target of money ransom for laundering activities.</p><p></p><h2><strong>Benefits of using Anti-money Laundering software</strong></h2><ul><li>It is helpful in ensuring the legal requirement of financial institutions and other such organizations.</li><li>They play a very important role in the detection and prevention of financial crimes.</li><li>It is beneficial for financial organizations to control the activity of their customers at a faster rate and in a very safe way.</li><li>AML software offers transaction monitoring features that detect the unusual transaction done by the customers.</li><li>Most of the financial crimes are done by financial transactions. With the help of AML software, the receiver and sender’s financial transactions can be detected within a matter of seconds.</li><li>A regular check can be done by the organizations about the transactions of the customers.</li></ul><p></p><h2><strong>Challenges faced in Anti-money Laundering</strong></h2><ul><li>Increased governance- the financial institutions have to manage multi-jurisdiction for AML –compliance and also have to face cross-border challenges.</li><li>Lack of skilled employees- There is a lack of skilled professionals who have in-depth knowledge about the AML software.</li><li>Complicated processes- AML compliances requires financial institutions to put multiple intricate processes and technology, for which they need to advance their infrastructure.</li></ul><p></p><h2><strong>The bottom line</strong></h2><p>The Anti-money Laundering Market has been witnessing rapid growth due to the high usage of digital platforms, there is an increasing amount of data on networks resulting in increased load on the infrastructure security of financial institutes, and banks. Since anti-money laundering (AML) solutions are used by banks and financial sectors to analyze customer data in order to discover doubtful transactions within a specified time. With the rapid developments taking place in data science, AI, machine learning, and big data that are showing as very effective technologies for AML solutions.</p><p>Also, advancement in technology comprising AML solutions for cryptocurrencies and the arrival of AI & cloud-based AML solutions has resulted in creating lucrative opportunities for the market. The growing focus of financial institutions on the issues related to digital payment, increasingly strict regulations, and passivity for AML are some of the major factors that are driving the market towards growth.</p></div>Sanctions and AML: a practitioner’s view of getting to grips with new directiveshttps://globalriskcommunity.com/profiles/blogs/sanctions-and-aml-a-practitioner-s-view-of-getting-to-grips-wit-22020-02-25T12:28:12.000Z2020-02-25T12:28:12.000ZCheri Burnshttps://globalriskcommunity.com/members/CheriBurns<div><div class="et_pb_module et_pb_text et_pb_text_0 et_pb_text_align_left et_pb_bg_layout_light"><div class="et_pb_text_inner"><p>Following A deep dive into how businesses can ensure they keep up with<span> </span><a href="https://www.encompasscorporation.com/blog/how-ipa-support-robust-sanctions-compliance/">evolving sanctions regimes</a> with<span> </span><a href="https://www.encompasscorporation.com/blog/aml-and-sanctions-how-firms-can-keep-up-with-evolving-regimes/">Martha Kliss from UCB,</a><span> </span>a global organisation within the pharmaceutical industry, we’re continuing to examine the landscape – this time with a practitioner’s views and insight into implementing Anti-Money Laundering (AML) directives.</p><p>Olivia Tawadros is a Senior Analyst at UAE’s Financial Intelligence Unit (FIU), who was a key figure in the implementation of the goAML reporting platform, developed by the United Nations Office on Drugs and Crime (UNODC) to facilitate the receipt, analysis and dissemination of suspicious transactions and activity reports to the UAE’s authorities.</p></div></div><div class="et_pb_module et_pb_text et_pb_text_1 et_pb_text_align_left et_pb_bg_layout_light"><div class="et_pb_text_inner"><p>Here, she tells us more about what she’s learned through that role, in terms of best practice for financial institutions (FIs) when it comes to<span> </span><a href="https://www.encompasscorporation.com/blog/aml-in-2020-an-australian-perspective/">tackling money laundering</a>, and how the increasing compliance requirements in the region have impacted…</p></div></div><div class="et_pb_module et_pb_text et_pb_text_2 et_pb_text_align_left et_pb_bg_layout_light"><div class="et_pb_text_inner"><h4>Olivia’s view*</h4><h4>What are some of the lessons you learned along the way that you think would be useful for FIUs and financial institutions to know about when preparing for the introduction of revised AML directives?</h4><p>It is always best to be prepared and know your requirements in advance prior to starting an implementation process.</p><p>Ensure that the infrastructure is adequate. Get to know the platform you’re using, listen to experienced users and make the best use of it. It’s important to have proper policies, procedures and controls – complemented by technology – in place.</p><p>One of the key things to consider, especially with the new requirements of regulations<span> </span><a href="https://www.encompasscorporation.com/encompass-webinars/understanding-5mld/">such as the Fifth Money Laundering Directive (5MLD)</a><span> </span>is to ensure staff are up-skilled – this is extremely important. Particularly in relation to 5MLD, we know staff must be comfortable with the requirements concerning Ultimate Beneficial Owners [UBOs], so I think this is an area that must be taken into account, as I find that financial institutions lack training from the bottom up in this area.</p><h4>What are your tips for financial institutions and non-traditional financial institutions to get aligned internally for new directives?</h4><ul><li><b>Adopt<span> </span></b><span>a comprehensive AML programme, particularly if you are a</span><span> </span><span>non-traditional institution, like a Cryptocurrencies exchange. </span></li><li><b>Tighten<span> </span></b><span>existing</span><span> </span><span>transaction monitoring rules </span><b>(</b><span>specifically in relation with prepaid card top up transactions</span><b>)</b><span>.</span></li><li><b>Understand<span> </span></b><span><a href="https://www.encompasscorporation.com/blog/the-role-of-automation-in-risk-analysis/">your risk appetite</a> in relation to transactions that involve high value goods</span><span> </span><span>that could be a source for terrorism financing</span><span> </span></li><li><span> </span><b>Upskill<span> </span></b><span>the financial crime detection and compliance teams and train them on how to unwrap complex structures and links between entities and UBOs.</span></li><li><b>Apply<span> </span></b><span>analytics tools to manage the wealth of information that is publicly available for your client due diligence. </span></li><li><b>Carry out</b><span> </span>Enhanced Due Diligence (EDD) on those concerned in high risk third countries, as defined in 5MLD</li></ul><h4>What are some of the issues you tend to see around AML adherence in the complex structures?</h4><p>Complex structures are a key method used to<span> </span><a href="https://www.encompasscorporation.com/blog/the-full-picture-automating-ubo-discovery-for-private-equity-firms/">disguise beneficial ownership</a>. These involve the use of legal persons and arrangements to distance the beneficial owner from an asset through complex chains of ownership.</p><p><span>Key issues related to complex structures include:</span></p><ul><li><span>Deficiencies in on-boarding and ongoing CDD programmes</span></li><li><span>Companies not maintaining shareholders registers</span></li><li><span>Transparency issues related to these registries</span></li><li><span>Complicated mechanisms in sharing financial intelligence and company information between authorities</span></li></ul><p>There is also the difficulty that comes with dealing with dormant accounts, IDV and complex structure unwrapping.</p><h4>What are some of the important measures for complying with AML due diligence requirements?</h4><p><span>Customer Due Diligence (CDD) measures and controls, whether at onboarding or throughout the course of the relationship, are an effective risk mitigation tool. </span></p><p><span>Measures include</span></p><p><span>Identifying the Ultimate Beneficial Owner (UBO)</span></p><ul><li><span>Identify and verify the identity of each customer on a timely basis.</span></li><li><span>Identify the beneficial owner, and take reasonable measures to verify the identity of any beneficial owner. The measures that have to be taken to verify the identity of the beneficial owner will vary depending on the risk.</span></li><li><span>Obtain appropriate additional information to understand the customer’s circumstances and business, including the expected nature and level of transactions.</span></li><li><span>Relevant customer due diligence information should be periodically updated together with its risk assessment. In the event of any change in beneficial ownership or control of the applicant, or third parties on whose behalf the applicant acts, reasonable measures should be taken to verify identity.</span></li></ul><h4>What do you think of the move towards UBO registries in Europe? How do you think that these registries should be used by companies in their due diligence process when they onboard clients and/or suppliers?</h4><p>As per<span> </span><a href="https://www.encompasscorporation.com/blog/identifying-ubos-robotic-process-automation/">the Financial Action Task Force (FATF) guidance</a><span> </span>on transparency and beneficial ownership, countries require their company registry to facilitate timely access to the public information they hold – hence the move towards UBOs registries in Europe.</p><p>Financial institutions should not solely rely on such registries to identify UBOs but rather should use them as a starting point. They should follow an enhanced due diligence process, especially with clients who are identified to have complex structures.</p><p>Unwrapping the layers of a complex structure and Identifying and verifying the UBOs should not only be done at the onboarding stage but rather should be part of their periodic reviews to ensure they’re compliant with the relevant regulations as well as up to date with their Know Your Customer (KYC) activities.</p><h4>What is the role or benefit of having a verifiable audit trail for financial institutions if a potential compliance breach is identified?</h4><p>The importance of having a verifiable audit trail is the first lesson I personally learnt when I started my AML career. It is vital that an institution has documents to cover itself, which means that every decision should be properly documented.</p><h4>How do institutions benefit from showing a consistent process when AML compliance is questioned?</h4><p>Consistency is key. It is important to be able to exhibit a consistent approach to AML compliance. It can be used to sustain an institution’s defence, should there be a one-off incident that causes the AML compliance program to be in question.</p><h4>What do you think are useful ways to harness technology for AML?</h4><p><b>Transaction Monitoring:<span> </span></b>A good transaction monitoring system will help FIs in detecting any red flags or patterns that can be a sign of exploiting trusts, complex structures, and PIVs in potential money laundering schemes. Introducing machine learning and Artificial Intelligence (AI) is now the trend and, if exploited for the right cause, it can be cost-effective.</p><p><b>Suspicious Transaction Reporting:<span> </span></b>Most FIUs are now using advanced systems to receive, analyse and disseminate STRs/SARs. Using machine learning and AI as well can help FIUs during their investigations and strategic analysis process.</p><p><span>I think financial institutions should become more proactive with technology. Being proactive does not mean file more STRs/SARs, but rather take the initiative of using available technology for preempting risks by detecting trends and patterns to then design a mechanism for sharing them with the institution’s community for everyone’s benefit.</span></p><h4>How can technology be used to make the relationship between FIs and FIUs collaborative?</h4><p>FIUs and financial institutions are increasingly working together in regulatory sandboxes, allowing banks to innovate, with the regulator’s guidance, and supportive oversight.</p><h4>What do you think of the potential of technology for improving SAR submissions and subsequent FIU investigations? How does this change the relationship between financial institutions and FIUs?</h4><p>Financial institutions that are eager to cover themselves by complying with suspicious transaction reporting directives have the counterintuitive effect of making it harder for FIUs to pursue legitimate financial crime due to the sheer SAR volume.</p><p>Institutions that undertake client vetting aided by technology approaches like Intelligent Process Automation (IPA) reduce the amount of clients that SARs come from in the first place. Applying AI in transaction monitoring once the client<span> </span><a href="https://www.encompasscorporation.com/blog/encompass-survey-kyc-onboarding-challenges/">passes onboarding checks</a><span> </span>significantly reduces false positives and the SAR workloads at FIUs.</p><p>Institutions sending less erroneous SARs gives FIUs the time and capacity to chase up legitimate SARs and meet their respective financial crime fighting missions. Consequently, a collaborative workflow develops, with institutions sending more qualified SARs, allowing FIUs to focus on SARs that are more likely linked to financial crime.</p><p>This is an example of technology changing the relationship between financial institutions and FIU from potentially adversarial to collaborative.</p><p>*The views expressed in this blog are Olivia’s, and are not representative of her employer.</p></div></div></div>There is no such thing as a risk free investmenthttps://globalriskcommunity.com/profiles/blogs/there-is-no-such-thing-as-a-risk-free-investment2019-09-11T13:54:36.000Z2019-09-11T13:54:36.000ZEdward C D Ingramhttps://globalriskcommunity.com/members/EdwardCDIngram<div><p>I AM RETIRING SO HERE ARE SOME PARTING SHOTS</p><p></p><p>FIRST</p><p>I posted an essay with a similar title at academia here</p><p><a href="https://www.academia.edu/6351124/There_is_no_risk_free_rate_of_return_available">https://www.academia.edu/6351124/There_is_no_risk_free_rate_of_return_available</a></p><p></p><p>There should be a risk free investment because its absence is slowing the world's economies.</p><p></p><p>You can read more here:</p><p></p><p><a href="http://macro-economic-design.blogspot.com">http://macro-economic-design.blogspot.com</a></p><p></p><p>and here:</p><p></p><p><a href="https://bwwsociety.org/bwwsociety.org/journal/current/2019/sep-oct/replacing-fixed-interest-bonds.htm">https://bwwsociety.org/bwwsociety.org/journal/current/2019/sep-oct/replacing-fixed-interest-bonds.htm</a></p><p></p><p>SECOND</p><p>HOW DAMAGING IS MONEY LAUNDERING LEGISLATION?</p><p>How much is it costing you to comply with the money laundering regulations?</p><p></p><p>It costs you new investment clients if you run managed funds or if you are a stockbroker.</p><p></p><p>It adds to staff costs.</p><p></p><p>Reputedly it costs the world not billions, but trillions of dollars per annum.</p><p></p><p>So why not make a push to change this cost?</p><p></p><div align="justify" class="western"><span>FRAUD AND MONEY LAUNDERING</span></div><div align="justify" class="western"><span>NICHe – National Investment Clearing House: Enabling secure, fast, free, money transfers. Minimal administration. No fraud. Once in, no further repeat money laundering questions are needed. The source and the destination of the investment monies are both known. This can save the world a few trillions p.a. in administrative costs, fraud, and delays.</span></div><div align="justify" class="western"></div><div align="justify" class="western"><span>HOW IT WORKS</span></div><div align="justify" class="western">This proposal was pushed for debate by Hon John Redwood in the early 1990s - he convened a meeting of interested parties. But right away there was a financial crisis and the main initiator (me) left the country. The idea was dropped.</div><div align="justify" class="western"></div><div align="justify" class="western">One reason was that the larger institutions and stockbrokers felt that they were well able to provide security for client accounts and the additional layer would be unnecessary and add to costs.</div><div align="justify" class="western"></div><div align="justify" class="western">Since then the money laundering legislation has reversed that position. </div><div align="justify" class="western"></div><div align="justify" class="western">The solution for them is to get approval from the administrators of NICHe (a government department) as a safe destination for client monies.</div><div align="justify" class="western"></div><div align="justify" class="western">When money is transferred from here to there it is sent to NICHe where it is checked against the approved list of destinations and then sent there through the banking system. Whereas deals can take weeks these deals can be done right away without any money laundering questions being asked.</div><div align="justify" class="western"></div><div align="justify" class="western">And fraud is prevented, reducing costs and worries for institutions.</div><div align="justify" class="western"></div></div>Anti Money Laundering Software Market Trends and Industry Forecast (2018-2023)https://globalriskcommunity.com/profiles/blogs/anti-money-laundering-software-market-trends-and-industry2019-04-16T09:30:00.000Z2019-04-16T09:30:00.000ZBIS Researchhttps://globalriskcommunity.com/members/BISResearch<div><p><a href="https://bisresearch.com/assets/catalog/products/thumb/small/FCaBLCzL2G40ie01M0osl5pvndjgv04E.jpg" target="_blank"><img src="https://bisresearch.com/assets/catalog/products/thumb/small/FCaBLCzL2G40ie01M0osl5pvndjgv04E.jpg?profile=RESIZE_710x" class="align-center" alt="FCaBLCzL2G40ie01M0osl5pvndjgv04E.jpg?profile=RESIZE_710x" /></a></p><p>AML system is a combination of different types of software, including transaction monitoring software, currency transaction reporting software, customer identity management software, and compliance management software, among others (sanction screening software and case management software). These software are responsible for addressing AML business requirements. They focus on identifying suspicious patterns of transactions, which may lead to the filing of Suspicious Transaction Reports (STRs) or Suspicious Activity Reports (SARs).</p><p><strong>Request the Sample @ <a href="https://bisresearch.com/requestsample?id=682&type=download">https://bisresearch.com/requestsample?id=682&type=download</a></strong></p><p>The market values for different software types from 2017-2023. The transaction monitoring software had the highest penetration rate in the overall AML software market in 2017, followed by currency transaction reporting, customer identity management, compliance management software, and others. Transaction monitoring software accounted for ~XX% of the AML software market for the year 2017. It is expected to reach $XX million by 2023, growing at a CAGR of XX%, during the period, 2018–2023, mainly due to the generation of complete analysis of a customer (risk assessment), thereby facilitating prediction of risk levels and future activities, along with providing reports and creating alerts for suspicious activities.</p><p><strong>View Complete Report @ <a href="https://bisresearch.com/industry-report/anti-money-laundering-software-market.html" target="_blank">Anti Money Laundering Software Industry</a></strong></p><p>The AML transaction monitoring software facilitates financial institutes and banks to monitor transactions by the customers at a high frequency, as compared to the traditional solutions. The entire system having transaction monitoring can only give efficient outputs, once the information obtained is combined with the analysis of customers’ historical information and account profile. Thus, the software is able to generate comprehensive analysis of a customer, thereby facilitating prediction of risk levels and future activities, along with providing reports and creating alerts for suspicious activities.</p><p>The transaction monitoring includes money transfer, cash deposit or withdrawal, and Automated Clearing House (ACH) activities. The AML transaction monitoring system includes features such as blacklist screening, and customer profiling, among others. </p><p><strong>About Us:</strong></p><p>BIS Research is a global market intelligence, research and advisory company which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market over the next five (or ten) years.</p><p>With over 150 market intelligence reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.</p><p>Each research report incorporates detailed analysis and subsequent quantification of- market dynamics, market drivers and restraints, opportunities, threats, market shares, current and emerging industry trends as well as detailed competitive landscape and intelligence.</p><p><strong>Contact:</strong></p><p><strong>39111 PASEO PADRE PKWY STE 313,</strong><br /> <strong>FREMONT CA 94538-1686,</strong> <br /> <strong>E-mail : sales@bisresearch.com</strong><br /> <strong>Call Us : +1-510-404-8135</strong></p><p></p></div>India's Demonetisation of Rs1000 and Rs500 denominations; Incremental Cash Flow into the Banking Systemhttps://globalriskcommunity.com/profiles/blogs/india-s-demonetisation-of-rs1000-and-rs500-denominations2017-08-11T13:53:25.000Z2017-08-11T13:53:25.000ZKANNAN SUBRAMANIAN RAMAKRISHNANhttps://globalriskcommunity.com/members/KANNANSUBRAMANIANRAMAKRISHNAN<div><p></p><p><span>Dear Friends,</span></p><p><span>You may be aware that the Government of India demonetised the highest two denomination bills of INR1000/- and INR500/- on 8th November 2016. Whilst, the usage of demonetisation as a tool to fight corruption and money laundering is debatable, the Indian case study, as per a Reserve Bank of India memo released on 11th August 2017 mentions that an estimated INR2.8 to INR 4.3 Trillion flowed incrementally (money kept outside the banking system) into the banking system. Circa INR64=1-USD.</span></p><p><span><a href="https://www.rbi.org.in/Scripts/MSM_Demonetisation.aspx">https://www.rbi.org.in/Scripts/MSM_Demonetisation.aspx</a></span></p><p><span> </span></p><p><span>There are costs associated to demonetisation and that includes loss of jobs in the unorganised sector. On 10th August 2017, media reported that the dividend paid by Reserve Bank of India dropped very significantly and one of the causes for the drop idemonetisation.</span></p><p><span><a href="http://economictimes.indiatimes.com/news/economy/finance/reserve-bank-of-india-dividend-to-government-halves-to-rs-30659-crore/articleshow/60006433.cms">http://economictimes.indiatimes.com/news/economy/finance/reserve-bank-of-india-dividend-to-government-halves-to-rs-30659-crore/articleshow/60006433.cms</a></span></p><p><span> </span></p><p><span>There are also other costs such as slowdown of economic activity, drop in productivity (disruptive) that need to be taken into consideration. The estimation of these costs are not easy.</span></p><p><span> </span></p><p><span>On balance, bearing in mind FATF (<a href="http://www.fatf.org">www.fatf.org</a>) recommendations, Demonetisation is not a Risk based AML-CTF approach. It has been used a few time by countries fighting Very High Inflation and the value of the domestic currency is severely eroded. India has managed to pull through the first 8-months of demonetisation pretty well. The core elements (risk based approach) in the war against Money Laundering & Financing of terrorism are (a) Transparency, Accountability and Audit of Political Funding and functioning of political parties (b) Trade based laundering & Organised Crime (c) Accountability of Gateway keepers i.e. Accountants&Auditors, Lawyers, Registrars (companies, charities, properties and others) (d) Accountability of Regulators - Insider Trading, Conflict of Interest (e) Minimising the use of Anonymous (including bearer instruments and crypt currencies) assets in the economy. (Demonetisation has helped in shifting the focus on digital payments).</span></p><p></p><p><span>Money Laundering and Financing of Terrorism are intertwined. Laundered funds flows through the weakest channel. The twins risks are Real and Present danger for all of us.</span></p><p></p></div>The Money Laundering & Financing of Terrorism Eco-System - Book Releasehttps://globalriskcommunity.com/profiles/blogs/the-money-laundering-financing-of-terrorism-eco-system-book2016-08-05T09:53:23.000Z2016-08-05T09:53:23.000ZKANNAN SUBRAMANIAN RAMAKRISHNANhttps://globalriskcommunity.com/members/KANNANSUBRAMANIANRAMAKRISHNAN<div><p></p><ul><li>The book examines the issues of Money Laundering and Financing of Terrorism.</li><li>It analyses 155 money laundering case studies, examines the impact of money laundering in 10 countries and elaborates on the three well known financial crises.</li><li>It looks at the risk holistically by examining the risks within each sector of the eco-system (for example: the election system, bank, hawala, real-estate) and also at the National level.</li><li>The applicable United Nation resolutions and FATF recommendations are explained with reference to incidents</li><li>The book also provides risk-based solutions to minimise the risks at a Sector level and at the National level.</li><li>The book provides Risk-based approaches as recommended the Central Bank and International anti-money laundering agencies.</li><li>It is a colour edition and very easy to read & understand.</li></ul><p><a href="https://www.amazon.com/Money-Laundering-Financing-Terrorism-Eco-System-ebook/dp/B01INXKXAM/ref=sr_1_1?ie=UTF8&qid=1468903062&sr=8-1&keywords=9781945497643#nav-subnav">https://www.amazon.com/Money-Laundering-Financing-Terrorism-Eco-System-ebook/dp/B01INXKXAM/ref=sr_1_1?ie=UTF8&qid=1468903062&sr=8-1&keywords=9781945497643#nav-subnav</a></p></div>