Kevin Sullivan's Anti-Money Laundering: Awareness and Compliance PDF

By Kevin Sullivan

ISBN-10: 1430261609

ISBN-13: 9781430261605

the easiest wager 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 one in all long island State’s top 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 group of workers regulated by way of the financial institution Secrecy Act, in addition to regulatory and legislation enforcement brokers, AntiMoney Laundering: expertise and Compliance exhibits intimately the stairs required to conform with the legislation in all regards whereas averting the hefty fines noncompliance brings.

Besides delivering an realizing of the legislation and its standards, in addition to the instruments and tactics readers might want to strive against cash laundering, Sullivan takes the reader on a "ride alongside" that weaves its means during the dynamics of cash laundering. The experience starts off with a proof of who the undesirable men are, why they do what they do, and how much crimes they devote that require cash laundering. subsequent, Sullivan exhibits how and whilst numerous executive laws have been enacted and the way these legislation have an effect on the undesirable men. Sullivan then studies what makes up a top quality AML software and exhibits how you can to cause like an investigator. eventually, he completes the experience alongside by way of going behind the curtain to teach what occurs after the monetary associations have performed their AML tasks and handed the torch to legislations enforcement. You’ll not just see the right way to fill out the right kind bureaucracy yet study the place all of it is going and the way details compiled by way of monetary associations result in arrests and prosecutions.

Bottom line: if you happen to paintings for a bank ruled by way of the financial institution Secrecy Act—or are in an prone to enjoying an element in a money-laundering scheme—you desire this ebook at your fingertips to assist remedy difficulties, conform to the legislation, and make it tougher for criminals to hide their crimes.

What you’ll learn

  • How funds is laundered and its influence at the economic climate
  • All in regards to the legislation, ideas, and rules bearing on cash laundering
  • How to create and bring a formal anti-money laundering application
  • How to prevent the steep fines for noncompliance
  • How to fill out many of the varieties (like the SAR, or Suspicious task document) thoroughly and legally
  • The investigative strategy and the way to paintings with legislation enforcement body of workers

Who this e-book is for

Every bank within the U.S. needs to agree to the financial institution Secrecy Act and, for that reason, should have an Anti-Money Laundering software. This booklet is for this reason crucial studying for someone operating in corporations coated via the financial institution Secrecy Act. It’s additionally a convenient advisor for regulators and law-enforcement brokers who have to comprehend anti-money laundering innovations and the specifics of the rules in undeniable English in addition to teach staff effectively.

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Anti-Money Laundering: Awareness and Compliance by Kevin Sullivan

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