Anti-money laundering and Know Your Customer

Money Laundering across the globe is not only a matter of serious concern for all countries but it also imposes substantial financial threat due to use of black money becoming a part of the financial ecosystem of the economy by operating through banking platforms. UNO, BCBS, FATF and other organisations have issued various guidelines and recommendations to all jurisdictions world over to combat ML and FT activities in respect of domestic as well as cross border operations. The book illustrates all the related issues since its inception, subsequent developments and resolutions for adoption and implementation. The book addresses all four elements of KYC AML guidelines comprehensively and covers the same in two parts. The 1st part deals with all aspects of Money laundering (ML), its threats to the economy and challenges in combating the same and the 2nd part provides Know Your Customers (KYC) measures and various regulatory prescriptions which will be helpful for the Banks / FIs to have in place a robust framework for ensuring conclusive compliances in all segments. Read more