Money Laundering - Hardcover

by Jonathan E. Turner (Author)

A how-to guide for the discovery and prevention of the illegal transfer of money

Written for the private sector--where most money laundering takes place--this book clearly explains shows business professionals how to deter, detect, and resolve financial fraud cases internally. It expertly provides an understanding of the mechanisms, tools to detect issues, and action lists to recover hidden funds.

• Provides action-oriented material that will show how to deter, detect, and resolve financial fraud cases
• Offers an understanding of the mechanisms, tools to detect issues, and action list to recover hidden funds
• Covers mechanisms for moving money, identifying risk exposures, and investigating money movement

Arming auditors, investigators, and compliance personnel with the guidance that, up until now, has been restricted to criminal investigators, Money Laundering Prevention provides nuts-and-bolts information needed to fully understand the money laundering process.

Front Jacket

MONEY LAUNDERING PREVENTION

DETERRING, DETECTING, AND RESOLVING FINANCIAL FRAUD

Traditionally, anti-money laundering (AML) efforts have been a governmental role, but over the past forty years, this responsibility has shifted as more emphasis and responsibility has been placed on the private sector. In addition, the range of private-sector businesses that must be wary of laundering efforts continues to increase: today, launderers attempt to move money through banks, brokerage houses, insurance companies, charities, multinational service companies, manufacturers, and any type of company imaginable.

An invaluable reference for regulators, investigators, and practitioners, this book examines money laundering in its current modern setting, broadening the conversation from its traditional narcotics trafficking context into terror financing and even white-collar crime. Renowned fraud investigator Jonathan Turner sheds light on how conventional money laundering tools highlight the business aspects of these cases, and thus can be applied successfully in white-collar crime matters, even when there is no connection to narcotics trafficking or terror financing.

This book explores the evolving incentives to launder money, the adapting technologies that help hide the movement of funds, and the huge financial gains that can be obtained by providing laundering services. It begins with a discussion of the money laundering process, including what it means and how it came about, examining the inherent challenges between governments and financial institutions.

It is estimated that money laundering and its associated criminal proceeds are estimated to equal six to eight percent of the world's economy. It's no surprise, then, that despite the anti-money laundering programs required by the USA Patriot Act and other modern regulations, money laundering techniques attract a wide variety of participants--from traditional criminals to modern fraudsters. Find out how your organization can successfully and efficiently deter, detect, and resolve financial fraud cases through the practical guidance found in Money Laundering Prevention.

Back Jacket

MONEY LAUNDERING PREVENTION

DETERRING, DETECTING, AND RESOLVING FINANCIAL FRAUD

Traditionally, anti-money laundering (AML) efforts have been a governmental role, but over the past forty years, this responsibility has shifted as more emphasis and responsibility has been placed on the private sector. In addition, the range of private-sector businesses that must be wary of laundering efforts continues to increase: today, launderers attempt to move money through banks, brokerage houses, insurance companies, charities, multinational service companies, manufacturers, and any type of company imaginable.

An invaluable reference for regulators, investigators, and practitioners, this book examines money laundering in its current modern setting, broadening the conversation from its traditional narcotics trafficking context into terror financing and even white-collar crime. Renowned fraud investigator Jonathan Turner sheds light on how conventional money laundering tools highlight the business aspects of these cases, and thus can be applied successfully in white-collar crime matters, even when there is no connection to narcotics trafficking or terror financing.

This book explores the evolving incentives to launder money, the adapting technologies that help hide the movement of funds, and the huge financial gains that can be obtained by providing laundering services. It begins with a discussion of the money laundering process, including what it means and how itcame about, examining the inherent challenges between governments and financial institutions.

It is estimated that money laundering and its associated criminal proceeds are estimated to equal six to eight percent of the world's economy. It's no surprise, then, that despite the anti-money laundering programs required by the USA Patriot Act and other modern regulations, money laundering techniques attract a wide variety of participants--from traditional criminals to modern fraudsters. Find out how your organization can successfully and efficiently deter, detect, and resolve financial fraud cases through the practical guidance found in Money Laundering Prevention.

Author Biography

JONATHAN E. TURNER, CFE, CII, is a Managing Director with Wilson & Turner Incorporated, where he specializes in the prevention and detection of sophisticated financial fraud and employee crime issues. Prior to cofounding WTI, he served in investigations management positions with regional, national, and international investigations firms, with operational responsibility for thousands of investigations. He is a court-recognized expert in the investigation, documentation, and resolution of financial fraud matters. Turner is a commentator on fraud-related topics, including financial fraud schemes, employee fraud issues, and complex fraud schemes. He has been interviewed by the Wall Street Journal, the New York Times, and has appeared on ABC News, CNBC, and CNN programs.