Overview

This book provides details on the origins of money laundering and how money laundering has evolved to date and the various money laundering methods. The book outlines international money laundering control agencies and their role in fighting money laundering. It gives best practice recommendations on how financial institutions can protect themselves from becoming a conduit for money laundering. The book provides new compliance officers with information on how to succeed in their compliance career. It addresses significant deficiencies of two banks by providing a case study on each. It talks about how financial institutions that provide trade finance services can tighten their AML regulatory controls to prevent being used for Trade-Based Money Laundering. The book elucidates on how a financial institution can create a risk culture by ensuring senior management leadership and commitment towards integrity and by creating core values that resonate with its risk tolerance. It addresses how firms can instill a risk-based culture through its hiring practices. The book also highlights the whistleblowing process.

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9781720466185

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Author Information

Maureen Mutua has been an anti-money laundering and compliance specialist for eight years. She holds a B. A Hons bachelor's degree from the University of Bolton and a master's in business degree from the same institution. She is the recipient of numerous certificates from the different organizations that she has worked for. Throughout her career, she has developed extensive experience in client due diligence, money laundering, sanction regimes, fraud and corporate governance. She has developed training programs in these areas for various institutions in the Middle East and Africa. Apart from being a former editor-in-chief of an African compliance magazine, she is a published author in her own right in the Middle East and African compliance sector. She has published articles on Trade-Based Money Laundering, The Importance of Anti-Money Laundering Training, Client Due Diligence, Politically Exposed Persons, Sanction Regimes and The Fundamentals of Banking.

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