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.
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