Anti-money Laundering Audit & Controls: Practical Hands-on Guide for Audit and Compliance Professionals

This Handbook is a must for Anti-money Laundering (AML) professionals! The material presented serves as a practical guide for those whose work involves auditing, internal controls and compliance associated with AML and Know-Your-Customer (KYC) laws, rules and regulations. The following subject areas comprise the essential components of a sound, well-rounded AML compliance program. • Review of audit and controls • AML regulatory compliance requirements • “Know-your-customer” (KYC) procedures • Currency transaction reporting (CTR) processing • Structuring of transactions • Foreign Corrupt Practices Act (FCPA) • Office of Foreign Assets Control (OFAC) • Correspondent relationships • Wire transactions • “Red–flag” suspicious transactions • Transaction monitoring practices • Due-diligence research • SARs processing • Terrorist organizations • Case studies • AML/KYC acronyms. The information presented within by Bob Walsh has been compiled from decades of in-depth, hands-on experience in the field of Anti-money Laundering. This includes working with some of the largest domestic and international banks, AML/KYC consulting agencies, Federal Bureau of Investigation, and the Federal Reserve Bank of New York in addressing major AML/KYC cases.