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Compliance and Financial Crime Risk in Banks - Sophia Beckett Velez

Compliance and Financial Crime Risk in Banks

A Practitioners Guide
Buch | Hardcover
176 Seiten
2024
Emerald Publishing Limited (Verlag)
978-1-83549-042-6 (ISBN)
CHF 129,95 inkl. MwSt
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US and global banking regulators have enforced compliance laws to minimise money laundering, terrorist funding, human trafficking, fraudulent banking activities, and bad mortgage loans that expose banks to significant risks and losses. Author Sophia Beckett Velez offers an original contribution to the field of banking.
US and global banking regulators have enforced compliance laws to minimise money laundering, terrorist funding, human trafficking, fraudulent banking activities, and bad mortgage loans that expose banks to significant risks and losses. However, many banks have complained of over-regulation. ‘Compliance and Financial Crime Risk in Banks: A Practitioners Guide’ investigates anti-money laundering standards, counter-terrorist financing measures that cover the Bank Secrecy Act laws, and control activities designed to mitigate breaches, such as ‘prevent, detect, and monitor’.


A focus group of ten senior banking finance experts was convened to build consensus on compliance practices that senior bank managers can implement to be effective in reducing losses in banks/bank holding companies. The result is the following consensus:


a) Maintenance of effective and independent compliance, consistent with the organisational objectives

b) Clear definition of data sources for compliance analytics

c) Compliance monitoring

d) Reporting activities to upper management

e) Top leadership must champion their code of ethics

f) Understanding the regulatory compliance activities that are effective


Author Sophia Beckett Velez offers an original contribution to the field of banking that Undergraduates, Master’s, Ph.D. students, academics, and researchers can use to gain a deeper understanding of compliance, and AML risks in banks, and the use of effective management practices.

Sophia Beckett Velez Ph.D. has worked over 16 years as a Certified Public Accountant (CPA) with large banks providing consulting services. She is the author of ‘Operational Risk Management in Banks and Idiosyncratic Loss Theory: A Leadership Perspective’ and ‘Banking and Effective Capital Regulation in Practice: A Leadership Perspective’.

Part 1. Regulatory Compliance in Domestic and Global Banks

Chapter 1. Regulatory Compliance Requirement and Practices

Chapter 2. Regulatory Compliance in Global Banks

Chapter 3. Compliance Requirements in BHC and IHC

Chapter 4. Compliance Failures in Global Banks

Part 2. Compliance Laws and Requirements (BSA/AML)

Chapter 5. Implications of Compliance Weakness in Banks and Regulatory Penalties

Chapter 6. BSA AML Compliance Practices – Ineffective Practices

Chapter 7. Capital Requirements – Ineffective Practices

Chapter 8. Training

Part 3. Compliance Environment and Effective Leadership Practices

Chapter 9. Sanctions

Chapter 10. Office of Foreign Assets Control (OFAC) Compliance Practices

Chapter 11. Capital Requirements – Effective Practices

Chapter 12. BSA AML Compliance Practices – Effective Practices

Erscheinungsdatum
Verlagsort Bingley
Sprache englisch
Maße 152 x 229 mm
Gewicht 343 g
Themenwelt Recht / Steuern Strafrecht Kriminologie
Wirtschaft Betriebswirtschaft / Management Finanzierung
Betriebswirtschaft / Management Spezielle Betriebswirtschaftslehre Bankbetriebslehre
ISBN-10 1-83549-042-5 / 1835490425
ISBN-13 978-1-83549-042-6 / 9781835490426
Zustand Neuware
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