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Presentation on AML

Presentation on AML. 10-Mar-14. Agenda. Definition of AML Process of Money Laundering Extent of Problem Impact of Problem Key Features of AML System AML Framework Value Proposition. Gross national Income. Money Laundering.

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Presentation on AML

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  1. Presentation on AML 10-Mar-14

  2. Agenda • Definition of AML • Process of Money Laundering • Extent of Problem • Impact of Problem • Key Features of AML System • AML Framework • Value Proposition

  3. Gross national Income Money Laundering Definition: The process whereby the origin of funds generated by illegal means is concealed Organized/Unorganized Crime • Drug trafficking • Corruption • Fraud • Terrorist Financing • $1000 – $1500 b / y

  4. Financial Crime Definition: A violation of law committed by a person or group of persons in the course of an otherwise respected and legitimate occupation or business enterprise."  Coleman (1989) Fraud & Money Laundering Money Laundering Fraud

  5. Smurfing Pizza trick Casino Etc. Small denominations €20 €50 No Paper Trail Money Laundering Process • Placement - Large volumes of small denominations • Layering - Moving funds to obscure paper trail • Integration - Reinvestment in legitimate business

  6. Financial Impact • Money Laundering • $ Multimillion fines • Closing the Institution • Fraud • FBI > $ 300 by USA • 5 -12 % Insurance claims • Individual case > $ 10 b • List of More fines

  7. Impact on Reputation

  8. Pressure on Financial Institutions • FATF Recommendations • EU AML & Terrorist Financing Legislation • Bank Secrecy Act • Local AML Legislation (Notice 626) • USA Patriot Act • Sarbanes Oxley Act • Basel II

  9. Addressing AML Requirements • Know Your Customer • Watch List Filtering • Risk Scoring • Transaction Monitoring • Link Analysis • Reports • Case Management

  10. KASTLE - AML Framework KASTLE - AML CONSULTING Reports AML FRAME WORK ENTITYRESOLUTION CASE MANAGEMENT TRANSACTION MONITORING BUSINESS INTELLIGENCE Fraud Detection COMPLIANCE

  11. Thank You

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