Andrewprozes (business executive) - Money Laundering

1. Andrewprozes (Business Executive) Andrew (Andy) Prozes is a business executive with a track record of effective leadership. He has founded, grown and led small and large organizations to generate above market growth and profits. He has extensive experience in information technology services and is recognized as an expert in the development of information-based solutions. He currently invests in and serves on the boards of directors of a companies, primarily information technology industry, as well as nonprofits and think tanks. and workflow variety of in the Anti-Money Laundering Money laundering facilitates a broad range of illegal activity throughout the world, including terrorism, human trafficking, fraud and illegal drugs, and threatens the integrity of the entire global financial system. To make illegal sources of money appear legitimate, offenders launder their funds through intermediaries so as not to raise the suspicion of banks and other financial institutions. The International Monetary Fund estimates that 2 to 5 percent of worldwide GDP is laundered each year. International organizations, corporations and governments are working to combat money laundering and bring those responsible to justice, but there is much more that can be done.

2. The United Nations took some initial steps at the end of the 1980s to address the growing money laundering problem. Following the creation of the Financial Action Task Force (FATF) in 1989, regional groupings – the European Union, Council of Europe, Organization of American States and other organizations – developed anti-money laundering standards for their member countries. The Caribbean, Asia, Europe and southern Africa have created regional anti-money laundering task-force-like organizations, and similar groupings are planned for western Africa and Latin America in the coming years. Through several investments, Andy has dedicated significant time and resources to help expand anti-money laundering practices internationally. He is currently chairman of the board of ACAMS, the largest international membership organization dedicated to enhancing the knowledge, skills and expertise of anti-money laundering and financial-crime detection and prevention professionals. The continued broad acceptance and integration of anti-money laundering laws and procedures is one of the more effective ways to disrupt and eliminate international fraudulent activity. Mission Tapping the power of information and technology can help combat criminal activity and lead to rule of law and better and easier decision-making around the world. Effective anti-money laundering and fraud detection programs, based on international cooperation and transparency of information, are crucial tools in the fight against terrorism, human trafficking and drug cartels and can help promote a strong civil society, economic stability and the rule of law. Throughout Andy’s life, and specifically over the past decade, he has helped build companies that are taking firm and innovative steps to improve the integrity of information and promote the rule of law around the globe.