Preventing money laundering and terrorist financing : : a practical guide for bank supervisors / / Pierre-Laurent Chatain ... [and others]

• Record Nr.: UNINA9910778029203321
• Pubbl/distr/stampa: Washington, DC : , : World Bank, , [2009]; copyright 2009
• ISBN: 1-282-13627-5; 9786612136276; 0-8213-7913-5
• Descrizione fisica: xxvii, 271 pages : illustrations ; ; 26 cm
• Altri autori (Persone): ChatainPierre-Laurent <1961->
• Disciplina: 364.16/8
• Soggetti: Money laundering - Prevention; Banks and banking - Corrupt practices; Terrorism - Finance - Prevention
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Contents; Foreword; Acknowledgments; About the Authors; Acronyms and Abbreviations; Introduction; Figures; Chapter 1 Designing an Effective AML/CFT Supervisory Framework; Boxes; Chapter 2 Risk Management in Combating Money Laundering and Terrorist Financing; Chapter 3 The Licensing Process and AML/CFT Due Diligence; Chapter 4 AML/CFT Off-Site Supervision; Chapter 5 The On-Site Supervisory Process; Chapter 6 Sanctions and Corrective Measures to Be Taken by Competent Authorities; Chapter 7 National and International Cooperation; Annex 1 Designing an Effective AML/CFT Framework That Supports Initiatives to Broaden and Deepen Financial Access by the PoorAnnex 2 Managing ML/FT Risks of Low-Risk Products: The Example of Branchless Banking; Annex 3 Risk Management Principles for Low-Risk Products: Some Guidelines; Annex 4 Preparing and Conducting an On-Site Examination for AML/CFT; Annex 5 Key Documents to Obtain at the Outset of the Inspection; Annex 6 List of Areas That Pose Higher Risks; Annex 7 Example of an AML/CFT Questionnaire Used by the French Banking Commission; Annex 8 Example of Sanctions Applied by the French Banking CommissionAnnex 9 FATF 40+9 Recommendations; Index
• Sommario/riassunto: Money laundering and terrorist financing are serious crimes that affect not only those persons directly involved, but the economy as a whole. According to international standards, every bank has the obligation to know its customers and to report suspicious transactions. Although these obligations sound straightforward, they have proved challenging to implement. What information precisely has to be gathered? How should it be recorded? If and when does one have to file a suspicious transaction report? It is here that a supervisor can play a crucial role in helping supervised institutions; first,