anti money laundering presentation 1206776027782784 4
TRANSCRIPT
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Audrius apolaHead of security department
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Physical
security
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Information
security
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Fraud
prevention
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Prevention of money laundering
and terrorist financing
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How it affects financialinstitutions?
What is money
laundering and terroristfinancing?
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ehind every greatfortune there is a crime
Honore de alzac
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What
is
money
laundering?
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Money laundering is any action taken to conceal,
arrange, use or possess the proceeds of anycriminal conduct
Serious Organised Crime Agency, UK
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Money laundering is the name given to theprocess by which illegally obtained funds are
given the appearance of having been legitimatelyobtained
Austral ian Transact ion Reports and Analysis Centre
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Money laundering is the method by whichcriminals disguise the illegal origins of their wealth
and protect their asset bases, so as to avoidsuspicion of law enforcement and to preventleaving a trail of incriminating evidence
United Nations Off ice on Drugs and Crime
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I am like any other man. All I do is supply a demand
Al Capone
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Human trafficking
Arms smuggling
Tax evasion
Drug trafficking
Corrupt practices
Theft Fraud
Robbery
Prostitution
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Funds laundered in the world could rangebetween two and five per cent of the worldsgross domestic product.
Using 1996 statistics, these percentages wouldApproximate between US $ 590 billion andU.S. $1.5 trillion
Internat ional Monetary Fund
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Hide wealthAvoid prosecutionEvade taxesIncrease profitsBecome legitimate
Why?
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laundering process
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# placement
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smurfing
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smurfing explained
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smurfing explained
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electronic transfer
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gambling
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gambling
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# layering
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electronic funds transfer
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# integration
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credit and debit cards
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terrorist
financing
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Recruit and sustainAcquire influenceBuild support baseCarry out terrorism
Why?
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Follow the money - Deep Thro at
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hawala
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money laundering vs. terrorist financing
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standardsetters
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The Basel Committee
on
Banking Supervision
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The Egmont Group
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Whatsin it
for the bank?
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what risks?
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operationalrisk
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legal risk
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financial andconcentration risk
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It takes 20 years to build a
reputation and five minutesto ruin it
Warren Buffet
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risk assessment
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politically
exposed
persons
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correspondent
bankingrequirements
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screeningand
monitoring
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ER SE Risk nalysis
E
RASEProfiling
A
lertGenera
tion
UserView
Data reduction & increased accuracy
TransactionsProfiles
$
$
$
$
$
$
$
$
Risk Views
ERASERiskV
iews
Alerts
!
!
!
!
!
ti
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reporting
and
freezing
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Staff
training
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financial
institution =
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a few examples
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Questions?
Th k t
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Thanks to:
Australian Transaction Reports andAnalysis Centre (AUSTRAC)
Flickr
Delfi
Lietuvos Rytas
Neteconomy
stock.xchng
http://www.austrac.gov.au/http://www.austrac.gov.au/http://www.flickr.com/http://www.delfi.lt/http://www.lrytas.lt/http://www.neteconomy.com/http://www.sxc.hu/http://www.sxc.hu/http://www.neteconomy.com/http://www.lrytas.lt/http://www.delfi.lt/http://www.flickr.com/http://www.austrac.gov.au/http://www.austrac.gov.au/http://www.austrac.gov.au/http://www.austrac.gov.au/