Money laundering prevention deterring, detecting, and resolving financial fraud /
"A how-to guide for the discovery and prevention of the illegal transfer of money Written for the private sector--where most money laundering takes place--this book clearly explains shows business professionals how to deter, detect, and resolve financial fraud cases internally. It expertly prov...
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| Corporate Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Hoboken, N.J. :
Wiley,
c2011.
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| Subjects: | |
| Online Access: | Click to View |
Table of Contents:
- Machine generated contents note: ch. 1 Understanding the Process of Money Laundering
- What Is Money Laundering?
- Money Laundering Defined
- Why Do People Launder Money?
- The Money Laundering Cycle
- Money Laundering Is a Criminal Business
- Money Laundering Is Global
- Money Launderers Adapt Technology
- The Role of Technology
- The Role of Banks
- The Role of Nations
- Regional Hotspots
- The Birth of the Financial Action Task Force (FATF)
- Conclusion
- ch. 2 Motivations for Getting Involved
- Involvement Is Personal
- People Weigh the Odds of Success
- Where Do Laundered Funds Come From?
- The Impact of Corruption
- Why Is Corruption Increasing?
- Corruption Always Begins Small
- Bribery and Corruption of Your Employees
- Bribery and Corruption by Your Employees
- Evolution of Government Attitudes
- Official Corruption Impacts Individual Corruption
- Tax Evasion as a Gateway to Money Laundering
- Moving from Taxes to Criminal Activity
- The Rise of Regional and Multinational AML Organizations
- The Connection between Fraud and Money Laundering
- Money Laundering as a Do-It-Yourself Activity
- The Service Providers: Bankers, Accountants, and Lawyers
- Conclusion
- ch. 3 Mechanisms for Moving Money
- Money Laundering Requires Movement through the System
- Broken Windows Encourage Other Crimes
- Look Local, Think Global
- Expanding International Requirements
- Financial Havens Are Expanding
- Money Laundering Is a Growth Industry
- Law Enforcement Gets a Big Boost
- Profit Drives Criminal Activity
- Structuring the Scheme to Succeed
- Why Use a Bank, When You Can Own One?
- Learning from the Big Fraud Schemes
- Confronting the Inevitable
- Balancing Security and Cost
- Effective Fraud Prevention Strategies
- The Fraud Triangle
- Where to Start
- Mitigating Improper Behavior
- Conclusion
- ch. 4 Going Global
- Taking Money around the World
- Moving the Money Offshore
- Avoiding Detection
- Historical Basis for Money Laundering
- Role of Private Banking
- Enhanced Regulations
- The Black Market Peso Exchange
- Increasing Cooperation in Regulation
- Regional Distinctions
- Global Efforts
- The Law Enforcement Focus
- Conclusion
- ch. 5 Technology and Tomorrow
- The Impact of Technology
- The Next Phase of Money Laundering
- Everything Old Becomes New Again
- Being Anybody You Want to Be
- Welcome to the Future
- So What Is the AML Response?
- Evolution of AML Controls
- Adjusting to Rapidly Increasing Scale
- A Highly Flexible Methodology Results in Processes that Are Difficult to Stop
- AML Is a Process, Not a Destination
- All Countries' Regulatory Programs Are Not Equal
- Technology and Offshore Havens Intersect
- The Cost vs. the Benefit
- Consider the Pace of Change and Progress
- Conclusion
- ch. 6 Discovery and Prevention
- Early Warning Is Essential to AML
- Proactive Means Active
- By the Numbers
- Paradigm Shift
- Testing Your Own AML Systems
- Expanding the Business Comparison
- The Regulatory Framework
- High-Risk Areas
- Money Laundering Meets Terror Financing
- Hiding in Plain Sight
- Criminalizing the Concealment Activities
- Creating Financial Fronts
- Keeping the Money Moving
- Keeping the Tax Man Happy
- Conclusion
- ch. 7 Terror Financing
- Terrorists Use Money Laundering Techniques
- Similarities and Distinctions
- Application of the Methodology to Terror Financing
- Global Impact of Financial Crimes
- Alternative Laundering Mechanisms
- Regulatory Responses
- Conclusion
- ch. 8 Identifying Risk Exposures
- AML Exposures: Assessing Financial Institution Risk
- Language, Culture, and Ethnicity
- The Legal Landscape
- Geography: Distance Matters
- The Goal of the Launderer Is to Hide
- The United States Takes a Different Approach
- Laundering Groups Seek to Evade Detection
- A Fractured Enforcement and Regulatory Picture
- The Regulatory Position on Cyber Risks
- Simple Fraud, Still Successful
- Conclusion
- ch. 9 Investigating Money Movement
- Money Laundering Is Now Transnational Organized Crime
- Succeeding in the Investigative Process
- Government Access to Information
- Mining Data for Money Laundering
- Some Products Help the Perpetrators
- Investigating Virtual Payment Technologies
- Looking to the Future Investigative Issues
- Putting an Investigative Plan in Motion
- People Are Essential to Proof
- Finding Money Laundering Abroad
- Money Laundering Exposure during the Financial Industry Consolidation
- Conclusion
- ch. 10 Reporting and Recovery
- Reporting to Law Enforcement
- Honest People Act Differently
- Anticipating Challenges with Cyber Recoveries
- Building Appropriate Controls into Online Payment Systems
- Global Coordination on Future Issues
- Weighing Access vs. Privacy
- Compliance Issues
- Putting Recovery Plans into Action
- Conclusion
- ch. 11 Conclusion.