Anti-money laundering in a nutshell : awareness and compliance for financial personnel and business /: awareness and compliance for financial personnel and business. ([2015])

• Record Type: Book
• Further Information: Note: Kevin Sullivan.
• Authors: Sullivan, Kevin
• Contents: About the Author; Acknowledgments; Introduction; Chapter 1: What Is Money Laundering?; Turning "Bad" Money into "Legitimate" Money; Money Laundering All Around Us; How Money Is Laundered; Why AML Efforts Are Important; The Three Stages of Money Laundering; Placement ; Layering ; Why Layering Works ; Integration ; Putting It All Together for a Payday; Who Launders Money; Summary; Chapter 2: Methods of Money Laundering; Structuring ; Bulk Cash Smuggling; Gold ; Money Service Businesses; Money Orders ; Money Service Business. Regulations Involving Money Service Businesses Wire Transfers; How a Wire Works; Casinos; Trade-Based Money Laundering ; Over- and Under-Invoicing of Goods; Black Market Peso Exchange; Underground Banking System (Hawala) ; Cyber Banking ; Smart Cards ; Internet ; ATMs; Prepaid Cards; Autos ; Correspondent Banking; Credit Cards ; Real Estate ; Cash-Intense Business ; Insurance ; Digital Currencies; Summary; Chapter 3: Federal Regulations; 1970: Bank Secrecy Act ; What Constitutes a Financial Institution ; Currency Transaction Report; Currency Transaction Exemptions. Why a CTR Is Important to Law Enforcement United States to World Comparison: Currency Transaction Reporting ; Form 8300 ; 1986: Money Laundering Control Act; 1990: FinCEN ; 1992: Annunzio-Wylie Act ; 1994: Money Laundering Suppression Act; 1998: Money Laundering and Financial Crimes Strategy Act; 2001: USA PATRIOT Act ; Office of Foreign Assets and Control; Foreign Account Tax Compliance Act; Summary; Chapter 4: Building a Quality AML Program; Recommended Elements of a Quality AML Program; The Four Pillars; Internal Policies and Procedures; Designated Compliance Officer. Independent Audit Function Training ; Risk Management; Conducting Due Diligence ; Customer Risk ; Product and Service Risk ; Geographic Risk ; Common Program Deficiencies; Summary; Chapter 5: Know Your Customer and Customer Identification Program; Elements of a KYC Program; Customer Identification; Basic Customer Due Diligence; Beware Shell Companies; Identifying Customers Online ; Monitor Transactions ; The Diligences; Start with a Checklist; Beware of "Voo-Due" Diligence ; When to Perform Due Diligence or Enhanced Due Diligence ; The Investigative Mind-Set. Trust Your Gut Perform Risk-Based Due Diligence; Sources of Intelligence; Other Special Considerations; Transaction Monitoring; Correspondent Banking -- Know Your Correspondents; Politically Exposed Persons; Summary; Chapter 6: A SAR Is Born; The Back Story; Getting to Suspicious; Hidden Value of SARs; 30/60/90 Rule ; Completing the SAR; Why Financial Institutions Need to File; What Happens After You File; Law Enforcement Contact; Suspicious Activity Report Statistics; Summary; Chapter 7: Tips for Law Enforcement and Financial Crimes Investigators.
• Publisher Details: Berkley : Apress
• Publication Date: 2015
• Extent: 1 online resource
• Subjects: 364.16/80973; Finance; Money laundering -- United States -- Prevention; Money laundering -- Law and legislation -- United States; SOCIAL SCIENCE -- Criminology; Money laundering -- Law and legislation; Money laundering -- Prevention; Business & Economics -- Finance; Finance; United States; Electronic books
• Languages: English
• ISBNs: 9781430261612; 1430261617; 1430261609; 9781430261605
• Related ISBNs: 9781430261605
• Notes: Note: Online resource; title from PDF title page (SpringerLink, viewed July 20, 2015).
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.