Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

Money Laundering

One of America’s leading experts on the global battle against money laundering, Professor William Byrnes is the lead author of Money Laundering, Asset Forfeiture & Recovery, and Compliance – A Global Guide.  Ray Camiscioli, Esq., Director, Product Strategy & Development for Tax, Accounting and Estates/Elder Law, LexisNexis, Inc.

book cover Money Laundering, Asset Forfeiture and Recovery, and Compliance- A Global Guide (LexisNexis Matthew Bender updated quarterly) is an eBook designed to provide the compliance officer, BSA counsel, and government agent with accurate analyses of the AML/CTF Financial and Legal Intelligence, law and practice in the nations of the world with the most current references and resources.  Special topic chapters will assist the compliance officer design and maintain effective risk management programs.  Over 100 country and topic experts from financial institutions, government agencies, law, audit and risk management firms have contributed analysis to develop this practical compliance guide. – See more at: http://www.lexisnexis.com/store/catalog/booktemplate/productdetail.jsp?pageName=relatedProducts&prodId=prod-us-ebook-01701-epub#sthash.Bts3dMm7.dpuf

The eBook is organized around five main themes:

  1. Money Laundering Risk and Compliance;
  2. The Law of Anti-Money Laundering and Compliance;
  3. Criminal and Civil Forfeiture;
  4. Compliance and
  5. International Cooperation.

Each chapter is made up of five parts.

Part I, “Introduction,” begins with the analysis of money laundering risks and compliance with the recommendations of the Financial Action Task Force (FATF), and then concludes with the country’s rating based on the International Narcotics Control Strategy Report (INCSR) of the U.S. State Department.

Part II, “Anti-Money Laundering and Combating Terrorist Financing (AML/CTF)” and Part III, “Criminal and Civil Forfeiture,” evaluate the judicial and legislative structures of the country. Given the increasing global dimension of AML/CTF activities, these sections give special attention to how a country has created statutes, decisions, policies and the judicial enforcement procedures needed to combat money laundering and terrorist financing.

Part IV, “Compliance,” examines the most critical processes for the prevention and detection of money laundering and terrorist financing. This section reflects on the practical elements that should be in place so that financial institutions can comply with AML/CTF requirements; these are categorized into the development and implementation of internal controls, policies and procedures.

Part V, “International Cooperation,” reviews the compilation of international laws and treaties between countries working together to combat money laundering and terrorist financing. As these unlawful activities can occur in any given country, it is important to identify the international participants who are cooperating to develop methods to obstruct these criminal activities.

TOPICS IN AML
Currency Transaction Reports (CTRs)
Politically Exposed Persons (PEPs)
Suspicious Activity Reports (SARs)
Virtual Currency Regulatory Developments
Unfolding Dimensions of an AML/CTF Complex System
Money Laundering: Predicate Crimes, Laundering Techniques and the AML Response

AFRICA:
Algeria
Egypt
Mauritius
Morocco
Niger
Nigeria
South Africa

CENTRAL AMERICA:
Costa Rica
El Salvador
Guatemala
Honduras
Panama

EASTERN EUROPE:
Croatia
Estonia
Latvia
Lithuania
Poland
Romania
Russia
Ukraine

FAR EAST:
Bangladesh
Brunei
Cambodia
China
Cook Islands
Hong Kong
India
Japan
Malaysia
Mongolia
New Zealand
Philippines
Singapore
South Korea
Taiwan
Thailand
Timor Leste
Vietnam

MIDDLE EAST:
Lebanon
Qatar

NORTH AMERICA:
Canada
Mexico
United States

SOUTH AMERICA:
Brazil
Colombia
Ecuador
Paraguay
Peru
Uruguay
Venezuela

WEST INDIES:
Anguilla
Antigua and Barbuda
Bahamas
Bermuda
British Virgin Islands
Cayman Islands
Cuba
Curacao
Dominica
Dominican Republic
Grenada
Haiti
Jamaica
Puerto Rico
St. Kitts & Nevis

WESTERN EUROPE:
Belgium
Finland
France
Germany
Gibraltar
Greece
Guernsey
Iceland
Isle of Man
Jersey
Liechtenstein
Monaco
Spain
Turkey
United Kingdom

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