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    Preventing Money Laundering and Terrorist Financing: A Practical Guide for Bank Supervisors
    Preventing Money Laundering and Terrorist Financing: A Practical Guide for Bank Supervisors
    Preventing Money Laundering and Terrorist Financing: A Practical Guide for Bank Supervisors
    Ebook225 pages5 hours

    Preventing Money Laundering and Terrorist Financing: A Practical Guide for Bank Supervisors

    By Pierre-Laurent Chatain, John McDowell, Cedric Mousset and

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    About this ebook

    The current financial crisis poses many challenges to all countries and is having a significant impact on economies and societies throughout the world. The need for funds might lower financial institutions’ vigilance as to the provenance of those funds. Supervisors also might prudently be focusing on coping with the crisis, affecting their supervision of measures for anti-money laundering and combating the financing of terrorism (AML/CFT). It will take increased efforts to ensure that AML/CFT concerns remain a priority for both banks and their supervisors.Effective supervision is central to the success of a country’s AML/CFT system. However,fieldwork in both developed and developing countries has shown an overall low compliance in the supervision of banks and other financial institutions. In fact, supervisory compliance with AML/CFT recommendations is generally lower than the average level of compliance with other recommendations of the Financial Action Task Force (FATF). By providing examples of good practices, 'Preventing Money Laundering and Terrorist Financing' will help countries improve AML/CFT supervision in the banking sector.This practical guide supports the implementation of international standards established by the FATF and other bodies by• providing examples of AML/CFT supervisory regimes in both developed and developing countries,• describing the implementation of good practices in AML/CFT supervision and enforcement, and• giving practical advice on how a particular jurisdiction might incorporate AML/CFT into its supervisory regime.Designed specifically for bank supervisors, this guide will also be of interest to readers working in the areas of finance, corruption prevention, law, accounting, and corporate governance.
    LanguageEnglish
    PublisherWorld Bank Publications
    Release dateMay 11, 2009
    ISBN9780821379134
    Preventing Money Laundering and Terrorist Financing: A Practical Guide for Bank Supervisors

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