Summary |
Money laundering deterrence and terrorist financing are two of the largest problems faced by financial institutions today. Anti-money laundering regulations oblige firms to put in place certain controls to prevent and detect money laundering and to report any suspicious activity they come across. As money launderers have resorted to ever more sophisticated ways of disguising the source of their funds, so the employees of financial institutions have to be ever more aware of what they are dealing with, and how they should deal with it.
Introduction to money laundering deterrence provides the reader with sufficient information to enable them to understand the main issues that relate to money laundering deterrence and terrorist financing. Since money laundering is, by its nature, a global issue, there exist global standards upon which all local legislation is based and it si these universal standards which are dealt with here. The key terms and associated risks are explained and a broad overview of the regulatory framework is given, to supply employees with the basic information that they need to be an effective part of the global attempt to identify and prosecute those involved in money laundering or terrorist financing.
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