Anti Money Laundering Presentation
74
Audrius Šapola Head of security department
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This is my presentation about what is money laundering crime and what is the role of financial institutions in the fight against it. I used it during my speech for a bunch of Business School Students (ISM).
Transcript of Anti Money Laundering Presentation
Audrius ŠapolaHead of security department
Physical security
Informationsecurity
Fraud prevention
Prevention of money laundering and terrorist financing
How it affects financial institutions?
What is moneylaundering and terrorist
financing?
“Behind every great fortune
there is a crime”
Honore de Balzac
What is
money laundering?
“Money laundering is any action taken to conceal, arrange, use or possess the proceeds of any criminal conduct”
Serious Organised Crime Agency, UK
“Money laundering is the name given to the process by which illegally obtained funds are given the appearance of having been legitimately obtained”
Australian Transaction Reports and Analysis Centre
“Money laundering is the method by which criminals disguise the illegal origins of their wealthand protect their asset bases, so as to avoidsuspicion of law enforcement and to preventleaving a trail of incriminating evidence”
United Nations Office on Drugs and Crime
“I am like any other man. All I do is supply a demand”
Al Capone
Human trafficking
Arms smuggling
Tax evasion
Drug traffickingCorrupt practices
Theft Fraud
RobberyProstitution
“Funds laundered in the world could rangebetween two and five per cent of the world’sgross domestic product.
Using 1996 statistics, these percentages wouldApproximate between US $ 590 billion andU.S. $ 1.5 trillion”
International Monetary Fund
®Hide wealth ®Avoid prosecution ®Evade taxes ®Increase profits ®Become legitimate
Why?
laundering process
# placement
smurfing
smurfing explained
smurfing explained
electronic transfer
gambling
gambling
# layering
electronic funds transfer
# integration
credit and debit cards
terroristfinancing
®Recruit and sustain ®Acquire influence ®Build support base ®Carry out terrorism
Why?
“Follow the money” - Deep Throat
hawala
money laundering vs. terrorist financing
standard setters
The Basel Committee on
Banking Supervision
The Egmont Group
What’s in it
for the bank?
what risks?
5
operationalrisk
legal risk
financial and concentration risk
“It takes 20 years to build a reputation and five minutes to ruin it”
Warren Buffet
risk assessment
knowyour customer
politicallyexposedpersons
correspondent banking
requirements
screening and
monitoring
ERASE Risk AnalysisER
ASE
Profi
ling
Aler
t G
ener
atio
n
Use
r Vi
ew
Data reduction & increased accuracy
TransactionsProfiles
$
$
$
$
$
$
$
$
Risk Views
ERAS
E Ri
sk V
iew
s
Alerts
!!!!!
reportingand
freezing
Staff training
arrestingpower?
financial institution =
?
a few examples…
Questions?
Thanks to:Australian Transaction Reports and Analysis Centre
(AUSTRAC)FlickrDelfi
Lietuvos RytasNeteconomystock.xchng
