Combating Money Laundering And The Financing Of Terrorism

Author:
Publisher: World Bank Publications
ISBN: 0821375709
Size: 16.37 MB
Format: PDF, Mobi
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6 Special cases: customer due diligence, risk-based approach While not directed
at specific customers or products or services, the FATF has issued general
guidance on the risk-based approach to AML/CFT to assist both authorities and
the private sector to support the development of a common understanding of
what the risk- • based approach involves; outline the high-level principles
involved in applying the risk-basedapproach; and indicate good public and
private sector practice ...

Money Laundering And The Financing Of Terrorism

Author: Great Britain: Parliament: House of Lords: European Union Committee
Publisher: The Stationery Office
ISBN: 9780108444692
Size: 80.71 MB
Format: PDF
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These guidance papers are intended to assist both public authorities and the
private sector in applying a risk-based approach to combating money laundering
and terrorist financing by: (l) supporting the development of a common
understanding of what the risk-based approach involves; (2) outlining the high-
level principles involved in applying the risk-based approach and (3) indicating
good practice in the design and implementation of an effective risk-based
approach. 45.

Politically Exposed Persons

Author: Theodore S. Greenberg
Publisher: World Bank Publications
ISBN: 9780821383339
Size: 64.71 MB
Format: PDF, ePub, Docs
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Many of the jurisdictions studied and visited apply a risk-based approach to anti-
money laundering (AML). The application of a risk-based approach by countries,
regulatory authorities, and the financial system has been outlined in the Financial
Action Task Force on Money Laundering (FATF) “Guidance on the Risk-Based
Approach to Combating Money Laundering and Terrorist Financing.” This paper
will not attempt to explain the risk-based approach in detail (see box 2.1 for an ...

The Law Of Governance Risk Management And Compliance

Author: Geoffrey P. Miller
Publisher: Wolters Kluwer Law & Business
ISBN: 1454846577
Size: 19.52 MB
Format: PDF, ePub
View: 7224
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The use of legal persons and arrangements without any apparent legal or
legitimate tax, business, economic or other reason are potentially higher risk
situations.... Service Risk [S]ome services are at higher risk ... The leading
authority on risk-based approach in this area is Financial Association Task Force,
Guidance on the Risk-Based Approach to Combating Money Laundering and
Terrorist Financing for Legal Professionals (October 23, 2008). American Bar
Association Standing ...

Money Laundering Law And Regulation

Author: Robin Booth
Publisher: Oxford University Press
ISBN: 0199543038
Size: 56.69 MB
Format: PDF
View: 568
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Over the following two years after June 2007, FATF developed a series of
sectoral guidance papers to assist both public authorities and the private sector
in applying a risk-based approach to combating money laundering and terrorist
financing. Each of the guidance papers relates to a specific business or
profession within the regulated sector and was developed in conjunction with
representatives of the relevant business or profession.27 The Third Money
Laundering Directive ...

Security Privatization

Author: Oldrich Bures
Publisher: Springer
ISBN: 3319630105
Size: 75.99 MB
Format: PDF, ePub
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recommendations for privatised financial security against money laundering and
terrorist finance. Yet it is interesting to observe that the FATF's initial document for
introducing the risk-based strategy in 2007 (FATF Guidance on the Risk-Based
Approach to Combating Money Laundering and Terrorist Financing: High Level
Principles and Procedures) did not specify a definition for 'risk' or 'a risk'. The
document's purpose is to 'support the development of a common understanding
of ...

Money Laundering Asset Forfeiture And Recovery And Compliance A Global Guide

Author: William H. Byrnes
Publisher: LexisNexis
ISBN: 0327170840
Size: 62.83 MB
Format: PDF, Docs
View: 2016
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JPN-IV. Compliance A. Risk Management FATF recommends members adopt a
risk-based approach to identify risks involved in money laundering and terrorist
financing. Financial institutions are advised to adopt a riskbased approach in
their AML/CFT practices. ... 3) The Japanese Bankers' Association's Guidance
The Japanese Bankers' Association issued in November 2007 “Guidance Note
on the Risk-based Approach” for combating money laundering and terrorist
financing.

Technology And Anti Money Laundering

Author: Dionysios S. Demetis
Publisher: Edward Elgar Publishing
ISBN: 1849806659
Size: 70.55 MB
Format: PDF, ePub, Docs
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This work is not only an intelligent discussion of many of the substantive issues relating to the control of money laundering, but a great deal more.

Austria

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1452703108
Size: 20.81 MB
Format: PDF, ePub
View: 3476
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Risk Based Application of CDD to be Consistent with Guidelines (c. 5.12) All
Financial Institutions 486. At the time of the assessment, no guidelines had been
issued on the risk-based approach adopted in the laws. The FATF Guidance on
the Risk-Based Approach to Combating Money Laundering and Terrorism
Financing (June 2007) was circulated by the MoF to the Austrian financial
institutions, via the WKO. The FMA is preparing a circular that will provide
financial institutions with ...