Anti Money Laundering Presentation

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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).

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Anti Money Laundering Presentation

  1. 1. Audrius Šapola Head of security department
  2. 2. Physical security
  3. 3. Information security
  4. 4. Fraud prevention
  5. 5. Prevention of money laundering and terrorist financing
  6. 6. How it affects financial institutions? What is money laundering and terrorist financing?
  7. 7. “ Behind every great fortune there is a crime” Honore de Balzac
  8. 8. What i s money laundering?
  9. 10. “ Money laundering is any action taken to conceal, arrange, use or possess the proceeds of any criminal conduct ” Serious Organised Crime Agency, UK
  10. 11. “ 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
  11. 12. “ Money laundering is the method by which criminals disguise the illegal origins of their wealth and protect their asset bases, so as to avoid suspicion of law enforcement and to prevent leaving a trail of incriminating evidence ” United Nations Office on Drugs and Crime
  12. 13. “ I am like any other man. All I do is supply a demand” Al Capone
  13. 15. Human trafficking Arms smuggling Tax evasion Drug trafficking Corrupt practices Theft Fraud Robbery Prostitution
  14. 16. “ Funds laundered in the world could range between two and five per cent of the world’s gross domestic product . Using 1996 statistics, these percentages would Approximate between US $ 590 billion and U.S. $ 1.5 trillion ” International Monetary Fund
  15. 17. ® Hide wealth ® Avoid prosecution ® Evade taxes ® Increase profits ® Become legitimate Why?
  16. 18. laundering process
  17. 19. # placement
  18. 20. smurfing
  19. 21. smurfing explained
  20. 22. smurfing explained
  21. 23. electronic transfer
  22. 24. gambling
  23. 25. gambling
  24. 26. # layering
  25. 27. electronic funds transfer
  26. 30. # integration
  27. 31. credit and debit cards
  28. 32. terrorist financing
  29. 34. ® Recruit and sustain ® Acquire influence ® Build support base ® Carry out terrorism Why?
  30. 35. “ Follow the money” - Deep Throat
  31. 36. hawala
  32. 37. money laundering vs. terrorist financing
  33. 38. standard setters
  34. 41. The Basel Committee on Banking Supervision
  35. 42. The Egmont Group
  36. 43. What’s in it for the bank?
  37. 44. what risks?
  38. 45. 5
  39. 46. operational risk
  40. 47. legal risk
  41. 49. financial and concentration risk
  42. 50. “ It takes 20 years to build a reputation and five minutes to ruin it” Warren Buffet
  43. 51. risk assessment
  44. 52. k now y our c ustomer
  45. 57. p olitically e xposed p ersons
  46. 59. correspondent banking requirements
  47. 60. screening and monitoring
  48. 61. ERASE Risk Analysis ERASE Profiling Alert Generation User View Data reduction & increased accuracy Transactions Profiles $ $ $ $ $ $ $ $ Risk Views ERASE Risk Views Alerts ! ! ! ! !
  49. 62. reporting and freezing
  50. 63. Staff training
  51. 65. arresting power?
  52. 66. financial institution =
  53. 67. ?
  54. 68. a few examples…
  55. 73. Questions ?
  56. 74. Thanks to: <ul><li>Australian Transaction Reports and Analysis Centre (AUSTRAC) </li></ul><ul><li>Flickr </li></ul><ul><li>Delfi </li></ul><ul><li>Lietuvos Rytas </li></ul><ul><li>Neteconomy </li></ul><ul><li>stock.xchng </li></ul>

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