Anti-Money Laundering

Content

 What is Money Laundering

 Types of Money Laundering
 How to investigate money laundering
 Role of Forensic Accountant in money Laundering
 What is AML
 Key components of AML
 AML technique protocols
 AML laws in USA
 Anti-Money Laundering Act of 2020 (AMLA) rules and regulations
 Preventive Measurses for ML
Money Laundering

 Money laundering is a criminal process in which individuals or organizations

attempt to conceal the origins of illegally obtained money, making it appear
as if the funds were acquired through legal means.
 process of money laundering involves three stages
 Placement
 Layering
 Integration
Types of Money Laundering

 Structuring or Smurfing
 Trade-Based Money Laundering
 Shell Companies
 Real Estate Money Laundering
 Bank Capture:
 Hawala and Informal Value Transfer Systems (IVTS)
 Cryptocurrencies
 Bulk Cash Smuggling
 Gambling
 Loans and Mortgages
How to investigate Money LAundering

 Suspicious Activity Identification

 Gathering Information
 Follow the Money Trail
 Know Your Customer (KYC) Analysis:
 Financial Analysis
 Collaboration with Financial Institutions
 Law Enforcement Cooperation
 Use of Technology and Data Analytics
 Undercover Operations and Informants
 Prosecution
Roles of Forensic accountant in money
laundering
 Tracing Illicit Funds
 Identifying Suspicious Patterns
 Uncovering Shell Companies
 Assessing Compliance with AML Regulations
 Preparing Evidence for Prosecution
 Quantifying Financial Losses
 Expert Testimony
 Asset Tracing and Recovery
 Risk Assessment and Fraud Prevention
 AML Training and Awareness
AML

 AML stands for "Anti-Money Laundering." It refers to a set of laws, regulations,

and procedures designed to prevent and detect activities that involve the
illegal conversion of ill-gotten gains into legitimate funds or other assets.
 The primary objective of AML measures is to combat money laundering,
terrorist financing, and other financial crimes
 Customer Due Diligence (CDD)
 Transaction Monitoring
 Suspicious Activity Reporting (SAR)
 Know Your Customer (KYC)
 Record Keeping
 Training and Compliance
AML techniques for prevention

 Customer Due Diligence (CDD)

 Enhanced Due Diligence (EDD)
 Transaction Monitoring
 Suspicious Activity Reporting (SAR)
 Risk-Based Approach
 AML Compliance Officer
 Training and Awareness Programs:
 Record Keeping
 Data Analytics and Technology
 Sanctions Screening
 Internal Controls and Audits
 Cooperation and Information Sharing
AML laws in USA

 Bank Secrecy Act (BSA)

 USA PATRIOT Act
 Money Laundering Control Act (MLCA)
 Foreign Corrupt Practices Act (FCPA)
 Office of Foreign Assets Control (OFAC) Regulations
 Customer Due Diligence (CDD) Rule
 Suspicious Activity Reporting (SAR)
 Foreign Account Tax Compliance Act (FATCA)
 Anti-Money Laundering Act of 2020 (AMLA)
Anti-Money Laundering Act of 2020
(AMLA) rules and regulations
 Beneficial Ownership Reporting
 Whistleblower Incentives
 No-Action Letter Process
 Modernization of AML Laws
 Enhanced Penalties
 Cooperation and Information Sharing
 Foreign Bank Account Reporting (FBAR) Changes
 Study on Trade-Based Money Laundering: