Jonathan E. Turner

Money Laundering Prevention (eBook, PDF)

Deterring, Detecting, and Resolving Financial Fraud

• Format: PDF

Produktbeschreibung

A how-to guide for the discovery and prevention of the illegal transfer of money Written for the private sector--where most money laundering takes place--this book clearly explains shows business professionals how to deter, detect, and resolve financial fraud cases internally. It expertly provides an understanding of the mechanisms, tools to detect issues, and action lists to recover hidden funds. * Provides action-oriented material that will show how to deter, detect, and resolve financial fraud cases * Offers an understanding of the mechanisms, tools to detect issues, and action list to recover hidden funds * Covers mechanisms for moving money, identifying risk exposures, and investigating money movement Arming auditors, investigators, and compliance personnel with the guidance that, up until now, has been restricted to criminal investigators, Money Laundering Prevention provides nuts-and-bolts information needed to fully understand the money laundering process.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 224
• Erscheinungstermin: 4. Mai 2011
• Englisch
• ISBN-13: 9781118086759
• Artikelnr.: 37349940

Autorenporträt

JONATHAN E. TURNER, CFE, CII, is a Managing Director with Wilson & Turner Incorporated, where he specializes in the prevention and detection of sophisticated financial fraud and employee crime issues. Prior to cofounding WTI, he served in investigations management positions with regional, national, and international investigations firms, with operational responsibility for thousands of investigations. He is a court-recognized expert in the investigation, documentation, and resolution of financial fraud matters. Turner is a commentator on fraud-related topics, including financial fraud schemes, employee fraud issues, and complex fraud schemes. He has been interviewed by the Wall Street Journal, the New York Times, and has appeared on ABC News, CNBC, and CNN programs.

Inhaltsangabe

Preface. Acknowledgments. CHAPTER 1 Understanding the Process of Money
Laundering. What Is Money Laundering? Money Laundering Defined. Why Do
People Launder Money? The Money Laundering Cycle. Money Laundering Is a
Criminal Business. Money Laundering Is Global. Money Launderers Adapt
Technology. The Role of Technology. The Role of Banks. The Role of Nations.
Regional Hotspots. The Birth of the Financial Action Task Force (FATF).
Conclusion. CHAPTER 2 Motivations for Getting Involved. Involvement Is
Personal. People Weigh the Odds of Success. Where Do Laundered Funds Come
From? The Impact of Corruption. Why Is Corruption Increasing? Corruption
Always Begins Small. Bribery and Corruption of Your Employees. Bribery and
Corruption by Your Employees. Evolution of Government Attitudes. Official
Corruption Impacts Individual Corruption. Tax Evasion as a Gateway. Money
Laundering. Moving from Taxes to Criminal Activity. The Rise of Regional
and Multinational AML Organizations. The Connection between Fraud and Money
Laundering. Money Laundering as a Do-It-Yourself Activity. The Service
Providers: Bankers, Accountants, and Lawyers. Conclusion. CHAPTER 3
Mechanisms for Moving Money. Money Laundering Requires Movement through the
System. Broken Windows Encourage Other Crimes. Look Local, Think Global.
Expanding International Requirements. Financial Havens Are Expanding. Money
Laundering Is a Growth Industry. Law Enforcement Gets a Big Boost. Profit
Drives Criminal Activity. Structuring the Scheme to Succeed. Why Use a
Bank, When You Can Own One? Learning from the Big Fraud Schemes.
Confronting the Inevitable. Balancing Security and Cost. Effective Fraud
Prevention Strategies. The Fraud Triangle. Where to Start. Mitigating
Improper Behavior. Conclusion. CHAPTER 4 Going Global. Taking Money around
the World. Moving the Money Offshore. Avoiding Detection. Historical Basis
for Money Laundering. Role of Private Banking. Enhanced Regulations. The
Black Market Peso Exchange. Increasing Cooperation in Regulation. Regional
Distinctions. Global Efforts. The Law Enforcement Focus. Conclusion.
CHAPTER 5 Technology and Tomorrow. The Impact of Technology. The Next Phase
of Money Laundering. Everything Old Becomes New Again. Being Anybody You
Want to Be. Welcome to the Future. So What Is the AML Response? Evolution
of AML Controls. Adjusting to Rapidly Increasing Scale. A Highly Flexible
Methodology Results in Processes that Are Difficult to Stop. AML Is a
Process, Not a Destination. All Countries' Regulatory Programs Are Not
Equal. Technology and Offshore Havens Intersect. The Cost vs. the Benefit.
Consider the Pace of Change and Progress. Conclusion. CHAPTER 6 Discovery
and Prevention. Early Warning Is Essential to AML. Proactive Means Active.
By the Numbers. Paradigm Shift. Testing Your Own AML Systems. Expanding the
Business Comparison. The Regulatory Framework. High-Risk Areas. Money
Laundering Meets Terror Financing. Hiding in Plain Sight. Criminalizing the
Concealment Activities. Creating Financial Fronts. Keeping the Money
Moving. Keeping the Tax Man Happy. Conclusion. CHAPTER 7 Terror Financing.
Terrorists Use Money Laundering Techniques. Similarities and Distinctions.
Application of the Methodology to Terror Financing. Global Impact of
Financial Crimes. Alternative Laundering Mechanisms. Regulatory Responses.
Conclusion. CHAPTER 8 Identifying Risk Exposures. AML Exposures: Assessing
Financial Institution Risk. Language, Culture, and Ethnicity. The Legal
Landscape. Geography: Distance Matters. The Goal of the Launderer Is to
Hide. The United States Takes a Different Approach. Laundering Groups Seek
to Evade Detection. A Fractured Enforcement and Regulatory Picture. The
Regulatory Position on Cyber Risks. Simple Fraud, Still Successful.
Conclusion. CHAPTER 9 Investigating Money Movement. Money Laundering Is Now
Transnational Organized Crime. Succeeding in the Investigative Process.
Government Access to Information. Mining Data for Money Laundering. Some
Products Help the Perpetrators. Investigating Virtual Payment Technologies.
Looking to the Future Investigative Issues. Putting an Investigative Plan
in Motion. People Are Essential to Proof. Finding Money Laundering Abroad.
Money Laundering Exposure during the Financial Industry Consolidation.
Conclusion. CHAPTER 10 Reporting and Recovery. Reporting to Law
Enforcement. Honest People Act Differently. Anticipating Challenges with
Cyber Recoveries. Building Appropriate Controls into Online Payment
Systems. Global Coordination on Future Issues. Weighing Access vs. Privacy.
Compliance Issues. Putting Recovery Plans into Action. Conclusion. CHAPTER
11 Conclusion. About the Author. Index.