Combating Money Laundering and Terrorist Financing: A Model of Best Practice for the Financial Sector, the Professions and other Designated Businesses

Authors

Commonwealth Secretariat

DOI: https://doi.org/10.14217/9781848590793-en

Synopsis

The Commonwealth has been in the forefront of international efforts to combat money laundering and terrorist financing, particularly through supporting its developing member countries to implement comprehensive Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) systems that comply with global standards.

The first edition of this book was published in 2005, and this second edition now includes additional information on understanding how terrorism is financed. The book incorporates both the international standard arising from the revised Financial Action Task Force on Money Laundering 40 Recommendations and the Special Nine Recommendations.

The manual will be of great use to policy-makers, regulators, financial institutions, the professions and other designated businesses in their efforts to develop viable AML/CFT systems.

The publication is divided into three main parts: the first deals with global issues, the second with national issues and in particular, national strategy formulation; and the third with financial and professional sector procedures.

Chapters

Preface to the First Edition

DOI: https://doi.org/10.14217/9781848590793-1-en

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Preface to the Second Edition

DOI: https://doi.org/10.14217/9781848590793-2-en

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Background and Introduction

DOI: https://doi.org/10.14217/9781848590793-3-en

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Money Laundering: The Need for Action and the Benefits to be Obtained

DOI: https://doi.org/10.14217/9781848590793-4-en

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Understanding How Terrorism is Financed

DOI: https://doi.org/10.14217/9781848590793-5-en

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Development of International Initiatives and Standards

DOI: https://doi.org/10.14217/9781848590793-6-en

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Establishing International and Regional Co-operation

DOI: https://doi.org/10.14217/9781848590793-7-en

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Developing National Strategies

DOI: https://doi.org/10.14217/9781848590793-8-en

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Criminalising Money Laundering

DOI: https://doi.org/10.14217/9781848590793-9-en

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Setting Obligations for the Financial Sector, the Professions and Other Designated Businesses

DOI: https://doi.org/10.14217/9781848590793-10-en

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Processing Reports, Investigation, Prosecution and Confiscation

DOI: https://doi.org/10.14217/9781848590793-11-en

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Internal Controls, Policies and Procedures

DOI: https://doi.org/10.14217/9781848590793-12-en

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Establishing Customer Due Diligence Procedures

DOI: https://doi.org/10.14217/9781848590793-13-en

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Recognition and Reporting of Suspicions

DOI: https://doi.org/10.14217/9781848590793-14-en

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Retention of Records

DOI: https://doi.org/10.14217/9781848590793-15-en

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Awareness Raising and Training

DOI: https://doi.org/10.14217/9781848590793-16-en

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Money Laundering Typologies

DOI: https://doi.org/10.14217/9781848590793-17-en

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Examples of Potentially Suspicious Activity and Transactions

DOI: https://doi.org/10.14217/9781848590793-18-en

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FATF Guidelines: Providing Feedback to Reporting Institutions and Other Persons

DOI: https://doi.org/10.14217/9781848590793-19-en

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Published

1 August 2006

Categories

Democracy, Government and Law

Copyright (c) 2006 Commonwealth Secretariat

License

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.