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Improving Anti-Money Laundering ComplianceIntroduction

Improving Anti-Money Laundering Compliance: Introduction [There has been a lot of discussion about the level of effectiveness of anti-money laundering (AML) within the United Kingdom (UK) and even globally. Some have attributed the problem with AML to weak regulatory and compliance framework, others lay the blame on the regulated sector for not doing enough to prevent money laundering, while some have attributed the problem to the cost of compliance imposed by the regulators. This book looks at the problem of AML from the perspective of one of the most important stakeholders, the money laundering reporting officers (MLROs), because their voice is often not heard in the debate despite the critical role they play in AML. Consequently, the chapter introduces the problem with AML from the perspective of MLROs. The aims and objectives of the book, the justification for the writing of the book and a brief discussion on the philosophy and methodology adopted for the research that underpinned the book are also included in the chapter.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Improving Anti-Money Laundering ComplianceIntroduction

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-3-319-43263-2
Pages
1 –24
DOI
10.1007/978-3-319-43264-9_1
Publisher site
See Chapter on Publisher Site

Abstract

[There has been a lot of discussion about the level of effectiveness of anti-money laundering (AML) within the United Kingdom (UK) and even globally. Some have attributed the problem with AML to weak regulatory and compliance framework, others lay the blame on the regulated sector for not doing enough to prevent money laundering, while some have attributed the problem to the cost of compliance imposed by the regulators. This book looks at the problem of AML from the perspective of one of the most important stakeholders, the money laundering reporting officers (MLROs), because their voice is often not heard in the debate despite the critical role they play in AML. Consequently, the chapter introduces the problem with AML from the perspective of MLROs. The aims and objectives of the book, the justification for the writing of the book and a brief discussion on the philosophy and methodology adopted for the research that underpinned the book are also included in the chapter.]

Published: Oct 3, 2016

Keywords: Organize Crime; Open Code; Money Laundering; Core Category; Selective Code

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