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.
