CREATESPACE AML Auditing - Understanding Office of Foreign Assets Control: Volume 7

This book is a must for all AML/KYC audit and compliance staff whose responsibilities include Office of Foreign Assets Control (OFAC)!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 OFAC and 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 OFAC topics described in this book include OFAC practices, the world of Anti-money Laundering, AML regulatory background, AML compliance programs, Know Your Customer (KYC) requirements, politically exposed persons (PEPs), terrorist organizations, Global Custody services, Politically Exposed Persons (PEPs), due-diligence research, Suspicious Activity Reports (SARs), AML/KYC acronyms 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.