CREATESPACE AML Auditing - Understanding Transaction Monitoring: Volume 2

This book is a must for all AML/KYC audit and compliance staff whose responsibilities include AML transaction monitoring!This book is one in a series of extraordinary guides in which Bob Walsh details the function and operation of key financial services for the benefit of AML/KYC audit and compliance professionals. The author is convinced that providing a greater understanding of the inner workings of how AML transaction monitoring and other financial services operate can dramatically strengthen AML/KYC compliance and audit results. All of Bob Walsh’s AML books for auditors also address the complex world of money-laundering, related AML/KYC regulatory issues and concerns, AML/KYC acronyms and technical glossary, and a list of currently known terrorist groups.The AML transaction monitoring topics described in this book include AML transaction monitoring practices, structuring of transactions, wire transfers, correspondent relationships, “red flag” suspicious activities, due-diligence research, Suspicious Activity Reports (SARs), Know Your Customer (KYC) requirements, CTRs, politically exposed persons (PEPs), “311” and “314” entities, case studies and more.The material contained in Mr. Walsh’s books was compiled from more than 30 years of hands-on experience in the U.S. and international banking industry. He is a CAMs certified AML/KYC compliance specialist who has worked with some of the largest banks in the world, the Federal Bureau of Investigation, the Federal Reserve Bank of New York, and major AML/KYC consulting agencies working on some of the largest AML/KYC cases in banking industry.As one of the leading authorities in the field, Mr. Walsh assists banks with AML/KYC auditing, investigations, compliance assessments, remediations and related AML/KYC technical training. His office is located in New York; he may be reached by email at: walsh516@aol.com.