Handbook of Anti-Money Laundering (eBook)

DENNIS COX is CEO of Risk Reward Limited, a strategy and risk consultancy for the financial services industry, and he serves as a director for a number of other companies. He is a leading specialist in financial services risk management and has held senior management positions at top banking and accountancy firms, including HSBC and Prudential. Dennis has authored several publications, including An Introduction to Money Laundering Deterrence and Frontiers of Risk Management.

Introduction 1

1 What is Money Laundering? 5

2 The Process of Money Laundering 15

3 International Money-laundering Regulation - The Role of the Financial Action Task Force 21

4 The EC Money Laundering Directives 59

5 UN Resolutions 79

6 The UK Regulatory Framework 83

7 How Money-laundering-deterrence Regulations are Applied in the UK - The Joint Money Laundering Steering Group 93

8 The Wolfsberg Principles 111

9 The US Regulatory Framework 127

10 Financial Sanctions 139

11 Risk Management and Money-laundering Deterrence 149

12 The Role of the Money Laundering Reporting Officer 159

13 Know Your Customer 169

14 Money Laundering Training 181

15 Retail Customer Identification 189

16 Corporate Customer Identification 199

17 Politically Exposed Persons 207

18 Non-face-to-face Customers 217

19 Suspicious Conduct and Transactions 225

20 Unusual Transactions 235

21 Investigating Suspicions 241

22 Ongoing Monitoring 253

23 Tipping Off 261

24 Correspondent Banking 265

25 Record-keeping 271

26 Money-laundering-deterrence Software 277

27 Country Profiles 285

27.1 Country Profile: Albania 286

27.2 Country Profile: Argentina 298

27.3 Country Profile: Australia 308

27.4 Country Profile: Bahamas 322

27.5 Country Profile: Barbados 335

27.6 Country Profile: Brazil 348

27.7 Country Profile: British Virgin Islands 355

27.8 Country Profile: Canada 367

27.9 Country Profile: Cayman Islands 384

27.10 Country Profile: China 396

27.11 Country Profile: Denmark 405

27.12 Country Profile: Finland 416

27.13 Country Profile: France 428

27.14 Country Profile: Germany 436

27.15 Country Profile: Guernsey 443

27.16 Country Profile: Hong Kong 458

27.17 Country Profile: India 473

27.18 Country Profile: Isle of Man 484

27.19 Country Profile: Japan 496

27.20 Country Profile: Jersey 503

27.21 Country Profile: Kenya 516

27.22 Country Profile: Liechtenstein 529

27.23 Country Profile: Malaysia 539

27.24 Country Profile: Mexico 552

27.25 Country Profile: Monaco 563

27.26 Country Profile: Morocco 575

27.27 Country Profile: Nigeria 584

27.28 Country Profile: Poland 593

27.29 Country Profile: Russia 604

27.30 Country Profile: Singapore 615

27.31 Country Profile: South Africa 625

27.32 Country Profile: South Korea ("Republic of Korea") 638

27.33 Country Profile: Switzerland 651

27.34 Country Profile: UAE 663

27.35 Country Profile: Ukraine 677

27.36 Country Profile: United States of America 687

27.37 Country Profile: Vietnam 700

Appendix: Transparency International 2013 Corruption Perceptions Index 713

Index 719

"... a must-have for banking employees involved in compliance / other ML activities" (Financial Expert, May 2015)