Anti-Money Laundering & KYC 2e

Anti-Money Laundering & KYC 2e

Subject: IIBF catalogue
165.00 INR

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Other Details

ISBN 9780230331969
Binding Paperback
Imprints Macmillan Publishers India
Edition 1
Language English

About the Book

Money-laundering has acquired a global character that not only threatens security, but also compromises the stability, transparency and efficiency of financial systems. Money-laundering techniques are becoming more sophisticated and complex with each passing day.

Across the world, banks and financial institutions are required to introduce and implement systems to prevent anti-social elements from using banking channels for money laundering.

Adoption of appropriate know-your-customer (KYC) procedures within individual banks is an essential part of risk management in banks, to safeguard the confidence and the integrity of banking systems.

The book provides the theoretical background on the subject and practical steps for banks implementing an AML/KYC regime in accordance with international standards. It explains the basic elements required to build an effective AML/KYC framework and summarizes the role of the employees in fighting money laundering. The highlight of the book is that it also contains the Guidance Notes for banks on AML and KYC issued by Indian Banks’ Association.

This book would help in gaining a deeper knowledge and understanding on the various aspects of AML/KYC and will be useful to bankers, academicians and policy makers.

About Author

Indian Institute of Banking & Finance (formerly The Indian Institute of Bankers) was established in 1928. With more than 750 Institutional members and over 2.5 lac individual members, it is the largest Institute of its kind in the world and is working with a mission ‘to develop professionally qualified and competent bankers and finance professionals primarily through a process of education, training, examination consultancy/counselling and continuing professional development programs’.

The Institute has almost all the banks and financial institutions, public sector, private sector, foreign, cooperative, regional rural banks as members, in addition to IT companies and individuals working in the banking and finance sector. The Institute is managed by a Governing Council consisting of Chairmen of different banks and eminent academicians. It offers a number of professional courses in banking and finance.

The flagship programs of the Institute are JAIIB and CAIIB. In addition, the Institute has introduced certificate courses in ‘Trade Finance’ and ‘Information System Bankers’. Other specialist courses are ‘Diploma in Treasury, Investment & Risk Management’, ‘Diploma in International Banking’, ‘Diploma in Banking Technology’ and ‘Post Graduate Diploma in Financial Advising’. These programs aim at building skill sets and developing competence among specialist officers in banks and financial institutions.
Table of Contents

  • Part I – (A) Anti-Money Laundering (AML) : Money Laundering
  • Money Laundering: Some Methods
  • Money Laundering: Legislation And International Cooperation
  • Money Laundering And Correspondent Banking
  • (B) Know Your Customer (KYC) : KYC – Historical
  • KYC: Operating Guidelines
  • Monitoring of Accounts
  • Case Studies
  • Annexures
  • Part II - IBA’s Guidance Notes for Banks: Overview and Regulatory Frame Work
  • Internal Controls And Structure in Banks
  • Customer Risk Categorization (CRC)
  • Know Your Customer (KYC)
  • Reporting Obligation Under PML Act
  • Transaction Monitoring
  • Name Screening Process
  • Wire Transfers – FATF SR VII Compliance
  • Staff and Customer Awareness
  • Preservation of Records