Money laundering and terrorist financing activities : a primer on avoidance management for money managers / / Milan Frankl, Ayse Ebru Kurcer

• Record Nr.: UNINA9910155153103321
• Autore: Frankl Milan
• Pubbl/distr/stampa: New York, New York (222 East 46th Street, New York, NY 10017) : , : Business Expert Press, , 2017
• ISBN: 1-63157-594-5
• Edizione: [First edition.]
• Descrizione fisica: 1 online resource (86 pages)
• Collana: Finance and financial management collection, , 2331-0057
• Disciplina: 364.168
• Soggetti: Money laundering; Terrorism - Finance; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Nota di bibliografia: Includes bibliographical references (pages 79-82) and index.
• Nota di contenuto: 1. Background -- 2. Money laundering methods -- 3. Money laundering detection methods -- 4. Effects of money laundering on the macro economy -- 5. Suspicious transaction types -- 6. Organizations dealing with money laundering and terrorist financing -- 7. Two money-laundering cases -- 8. Corporate money-laundering events in USA -- 9. New place to launder money -- 10. Measures for preventing money laundering -- Conclusion and recommendations -- References -- Index.
• Sommario/riassunto: The purpose of this book is to introduce the reader to mechanisms useful for detection and avoidance of money-laundering activities (MLAs) and terrorist financing and suggest improvements to existing MLAs where appropriate. Money laundering may occur in every country. The significant factor is to diagnose the illegal MLA and apply regulations to mitigate them. To meet this objective, managers of financial institutions need to train their employees about anti-money laundering (AML) processes and how to diagnose and prevent money laundering. AML activities can also affect the financial systems of a country. "Money laundering destabilizes the foundation of a nation's financial system by reducing tax revenues and impeding fair competition by ultimately disrupting economic development" (World ; Compliance, 2008). MLAs can create a big gap between income classes. Money laundering can also decrease banks' or financial institutions' credibility. "In practice, criminals are trying to disguise the origins of money obtained through illegal activities so that it looks like it was obtained from legal sources" (Layton, 2005). This book may be of special interest to financial managers in the private and public sector. It also may be a useful guide for those involved in international financial transactions.