The Global Anti-Money Laundering Regulatory Landscape in Less Developed Countries PDF Download
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Author: Norman Mugarura
Publisher: Routledge
ISBN: 1317030338
Category : Law
Languages : en
Pages : 357
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Book Description
Examining the challenges of using the global anti-money laundering (AML) framework in an uneven global regulatory landscape, this book discusses the difficulties of relating de-regulation, liberalization and conflict of laws to the dynamics of the market economy and demonstrates how the global environment engenders money laundering. It suggests that corruption, general systemic failure and lack of infrastructural capacity in some developing economies are hampering the implementation of laws and regulations. Suggesting that these challenges can be overcome by designing AML regimes more suited to developing economies within the prevailing global climate, the book questions the assumption that that global regimes will be applicable and emphasises the need for more representation of developing economies on the relevant committees. This book is the first of its kind to present the perspective of developing economies and their involvement in AML regimes and should be of interest to those involved in business and commercial law as well as comparative law.
Author: Norman Mugarura
Publisher: Routledge
ISBN: 1317030338
Category : Law
Languages : en
Pages : 357
Get Book
Book Description
Examining the challenges of using the global anti-money laundering (AML) framework in an uneven global regulatory landscape, this book discusses the difficulties of relating de-regulation, liberalization and conflict of laws to the dynamics of the market economy and demonstrates how the global environment engenders money laundering. It suggests that corruption, general systemic failure and lack of infrastructural capacity in some developing economies are hampering the implementation of laws and regulations. Suggesting that these challenges can be overcome by designing AML regimes more suited to developing economies within the prevailing global climate, the book questions the assumption that that global regimes will be applicable and emphasises the need for more representation of developing economies on the relevant committees. This book is the first of its kind to present the perspective of developing economies and their involvement in AML regimes and should be of interest to those involved in business and commercial law as well as comparative law.
Author: Norman Mugarura
Publisher: Routledge
ISBN: 1317030346
Category : Law
Languages : en
Pages : 336
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Book Description
Examining the challenges of using the global anti-money laundering (AML) framework in an uneven global regulatory landscape, this book discusses the difficulties of relating de-regulation, liberalization and conflict of laws to the dynamics of the market economy and demonstrates how the global environment engenders money laundering. It suggests that corruption, general systemic failure and lack of infrastructural capacity in some developing economies are hampering the implementation of laws and regulations. Suggesting that these challenges can be overcome by designing AML regimes more suited to developing economies within the prevailing global climate, the book questions the assumption that that global regimes will be applicable and emphasises the need for more representation of developing economies on the relevant committees. This book is the first of its kind to present the perspective of developing economies and their involvement in AML regimes and should be of interest to those involved in business and commercial law as well as comparative law.
Author: Paul Allan Schott
Publisher: World Bank Publications
ISBN: 0821365142
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
This second edition of the Reference Guide is a comprehensive source of practical information on how countries can fight money laundering and terrorist financing. Aimed at helping countries understand the new international standards, it discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations play in the process. The Reference Guide is a valuable tool for establishing effective regimes to successfully prevent, detect, and prosecute money laundering and terrorist financing.
Author: Asian Development Bank
Publisher:
ISBN: 9789292577612
Category : Money laundering
Languages : en
Pages : 0
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Book Description
This handbook provides nonbanking financial institutions guidance on how to manage risks associated with money laundering and the financing of terrorism. It reflects the requirements of the international standard setter in the fight against money laundering and terrorist financing---the Financial Action Task Force---and is intended to serve as the basis for developing internal controls and procedures by nonbanking financial institutions to combat such actions.
Author: Emmanuel Ebikake
Publisher: Taylor & Francis
ISBN: 1000994538
Category : Law
Languages : en
Pages : 183
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Book Description
Adopting a mixed-methods approach, this book assesses the role of soft law as a technique to repress and prevent money laundering. The consequence of the combination of a non-traditional subject matter with the limitations of traditional international law instruments has meant that lawmakers seeking international solutions to the problems of money laundering have had to innovate. This book addresses two fundamental issues in the context of existing international and domestic responses to the problem of money laundering that have hitherto been neglected. These include the nature of the treaty obligations to criminalise money laundering, and the role of soft law as a technique to regulate it globally. The book concludes that international legal harmonisation and approximation of domestic anti-money laundering law through soft law remains helpful in addressing this pressing problem. The book will be of interest to academics, researchers, and policy-makers working in the areas of Financial Crime, Anti-Money Laundering Law, Regulation, International Soft Law, and Comparative Law.
Author: Nkechikwu Valerie Azinge-Egbiri
Publisher: Routledge
ISBN: 1000351750
Category : Business & Economics
Languages : en
Pages : 159
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Book Description
This book analytically reviews the impact of the global anti-money laundering and counter-terrorist financing (AML/CFT) framework on the compliance trajectory of a number of jurisdictions to this framework. The work begins by examining the international financial sector reform and its evolution to inculcate the global framework for AML/CFT regulations. It challenges the resulting uniform AML/CFT due to its paradoxical impact on the compliance trajectory of African countries and emerging economies (ACs/EEs). This is done through an examination of the pre-conditions for effective regulation and compliance drivers for ACs/EEs that reveals the behavioural impact of the AML/CFT standards on the bloc of countries. Through the application of agency theory, it explores the relationship between ACs/EEs on the one hand and the international financial institutions that formulate, disseminate and facilitate compliance with the global framework for AML/CFT standards on the other. The remaining chapters review empirically the compliance pressures and resulting compliance trajectory of ACs/EEs with the AML/CFT standards. The final part of the book provides a detailed explanation of the compliance challenges of ACs/EEs and the legitimacy concerns that facilitate this. This book offers a new direction on the impact of global AML/CFT standards on ACs/EEs and contributes to the understanding of the conditions under which the global standards are likely to facilitate proactive compliance within these blocs of countries. As such it will be a valuable resource for academics, researchers and policy-makers working in this area.
Author: Kevin Sullivan
Publisher: Apress
ISBN: 1430261617
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
Anti–Money Laundering in a Nutshellis a concise, accessible, and practical guide to compliance with anti–money laundering law for financial professionals, corporate investigators, business managers, and all personnel of financial institutions who are required, under penalty of hefty fines, to get anti–money laundering training. Money laundering is endemic. As much as 5 percent of global GDP ($3.6 trillion) is laundered by criminals each year. It’s no wonder that every financial institution in the United States—including banks, credit card companies, insurers, securities brokerages, private funds, and money service businesses—must comply with complex examination, training, and reporting requirements mandated by a welter of federal anti–money laundering (AML) laws. Ignorance of crime is no excuse before the law. Financial institutions and businesses that unknowingly serve as conduits for money laundering are no less liable to prosecution and fines than those that condone or abet it. In Anti–Money Laundering in a Nutshell: Awareness and Compliance for Financial Personnel and Business Managers, Kevin Sullivan draws on a distinguished career as an AML agent and consultant to teach personnel in financial institutions what money laundering is, who does it, how they do it, how to prevent it, how to detect it, and how to report it in compliance with federal law. He traces the dynamic interplay among employees, regulatory examiners, compliance officers, fraud and forensic accountants and technologists, criminal investigators, and prosecutors in following up on reports, catching launderers, and protecting the integrity and reputations of financial institutions and businesses. In particular, corporate investigators will gain rich insights winnowed from the author's experiences as a New York State and federal investigator.
Author:
Publisher: World Bank Publications
ISBN: 0821379135
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
"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, in understanding the full extent of the obligations of Customer Due Diligence and Suspicious Transaction Reports (STR) and, second, in ensuring that those obligations are not just words on paper but are applied in practice. Effective supervision is key to the success of a country's AML/CFT system. In this regard, field work in both developed and developing countries has shown an overall low compliance in the area of supervision of banks and other financial institutions; supervisory compliance is indeed generally lower than the average level of compliance with all Financial Action Task Force recommendations. As a result, by providing examples of good practices, this book aims to help countries better conform to international standards. In this regard, this handbook is specifically designed for bank supervisors.
Author: Shahar Hameiri
Publisher: Cambridge University Press
ISBN: 1107110882
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
'Non-traditional', border-spanning security problems pervade the global agenda. This is the first book that systematically explains how they are managed.
Author: Thomas J. Biersteker
Publisher: Routledge
ISBN: 1134155360
Category : Political Science
Languages : en
Pages : 349
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Book Description
Groups committing acts of terrorism have adapted their means of financing to elude detection since the 9/11 attacks in the United States. Surveying the global community’s multi-year effort to cut off terrorist funding, this volume offers a much-needed analysis of a complex, widely discussed, yet poorly understood subject. While books on terrorism have touched upon the topic, this is the first comprehensive, balanced, and scholarly overview of terrorist financing, its methods, and efforts to counter it. Bringing together leading analysts of terrorism, international relations, global finance, law, and criminology, Countering the Financing of Terrorism provides a critical assessment of the international effort to restrict terrorist financing. It evaluates the costs and benefits and offers recommendations for more effective policies for the future.
