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Suspending Suspicious Transactions by Klaudijo Stroligo,Horst Intscher,Susan Davis-Crockwell Pdf
This book presents findings of a first worldwide study on the FIU power to postpone/suspend suspicious transactions and provides recommendations aiming to strengthen the rule of law and enhance the transparency of postponement of transactions and ensuing seizures and confiscation of proceeds of crime.
Suspending Suspicious Transactions by Klaudijo Stroligo,Horst Intscher,Susan Davis-Crockwell Pdf
Seizure and confiscation of proceeds of crime, and funds intended to finance terrorism, are key objectives of the global initiative to combat money laundering and terrorism financing. The timely identification and immobilization of such funds are critical to permit the action necessary to prevent the flight of illicit assets beyond the reach of national law enforcement and prosecutorial authorities. Among the measures and tools that have been developed is the power for Financial Intelligence Units (FIUs) to order the postponement of transactions involving funds suspected of being related to money laundering or terrorism financing. This power has been given to a significant number of FIUs, but is not a mandatory element of the international anti-money laundering and countering terrorist financing standards. The World Bank and the Egmont Group undertook a joint study to gather information about the legal basis of this power and its practical application as well as the frequency and modalities of its use. Detailed findings of this study are reported in this booklet, together with a series of recommendations that address anomalies, or perceived weaknesses, in the structure and scope of this power, and the manner in which it is used by FIUs. In this regard it is worth mentioning some of the key recommendations flowing from the study that urge national authorities to: • Provide an explicit legal basis for the FIU’s power to postpone suspicious transactions. • Identify the minimum requisite conditions for the FIU’s exercise of this power. • Ensure that the legal provision for this power mandates a reasonable maximum duration for the FIU postponement order. • Introduce legal provisions to require the FIU to issue a written postponement order, while allowing for an oral order in urgent cases. • Develop and implement effective mechanisms for coordination of the activities of reporting entities and public authorities involved in the postponement of transactions and follow-on interventions that may be triggered by the postponement. The report’s findings and recommendations are intended to provide practical advice to those countries that may wish to review, upgrade or strengthen their FIU’s capacities to use this power. It will also be an invaluable source of information and guidance to policy makers, FIUs, as well as law enforcement and prosecutorial authorities of countries that may be considering the introduction of this power.
This second edition of Doing Business with Serbia is the definitive English language guide to investment potential, commercial opportunity and business practice in Serbia. The guide provides an objective and timely assessment of current economic climate, investment opportunities, and an insight into the rules of business engagement in Serbia's vibrant and fast moving economy. In addition, the guide will include detailed profiles of industry sectors and individual companies.
Author : Paul Allan Schott Publisher : World Bank Publications Page : 292 pages File Size : 47,5 Mb Release : 2006-01-01 Category : Business & Economics ISBN : 9780821365144
Reference Guide to Anti-money Laundering and Combating the Financing of Terrorism by Paul Allan Schott Pdf
This second edition of the Reference Guide is a comprehensive source of practical information on how countries can fight money laundering and terrorist financing. Aimed at helping countries understand the new international standards, it discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations play in the process. The Reference Guide is a valuable tool for establishing effective regimes to successfully prevent, detect, and prosecute money laundering and terrorist financing.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 250 pages File Size : 47,5 Mb Release : 2024-02-29 Category : Business & Economics ISBN : 9798400267925
Republic of Kazakhstan by International Monetary Fund. Monetary and Capital Markets Department Pdf
In 2019 the responsibility to supervise the financial sector of Kazakhstan was assigned to the newly established Agency for the Regulation and Development of the Financial Market (ARDFM); however, ARDFM independence is not enshrined in the legislation. While ARDFM has introduced a risk-based approach and Supervisory Examination and Review Process, banks’ asset quality and related party transactions remain a source of concern, even if improving. The ARDFM present approach does not yet comply with international standards for consolidated supervision; it should hence continue with its plans to align key prudential standards with the Basel framework and extend risk management expectations across a banking group and not only at solo level.
Information Security and Privacy by Udaya Parampalli,Philip Hawkes Pdf
This book constitutes the refereed proceedings of the 16th Australasian Conference on Information Security and Privacy, ACISP 2011, held in Melbourne, Australia, in July 2011. The 24 revised full papers presented together with an invited talk and 9 poster papers were carefully reviewed and selected from 103 submissions. The papers are organized in topical sections on symmetric key cryptography, hash functions, cryptographic protocols, access control and security, and public key cryptography.
Handbook on Anti-Money Laundering and Combating the Financing of Terrorism for Nonbank Financial Institutions by Asian Development Bank Pdf
This handbook provides nonbanking financial institutions guidance on how to manage risks associated with money laundering and the financing of terrorism. It reflects the requirements of the international standard setter in the fight against money laundering and terrorist financing---the Financial Action Task Force---and is intended to serve as the basis for developing internal controls and procedures by nonbanking financial institutions to combat such actions.
A guide to investigation and indictment using an integrated approach to law enforcement by Topo Santoso,Rosalita Chandra,Anna Christina Sinaga,Mumu Muhajir,Sofi Mardiah Pdf
Smarter Banking with CICS Transaction Server by Chris Rayns,Neil Ashworth,Peter Beevers,Vesna Eibel,Fabrice Jarassat,Claus T Jensen,Alison Lucas,Anthony Papageorgiou,Alain Roessle,Nigel Williams,IBM Redbooks Pdf
It goes without saying that 2009 was a year of unprecedented change in global banking. The challenges that financial institutions are facing require them to cut costs but also to regain trust and improve the service that they provide to an increasingly sophisticated and demanding set of customers. In the past, siloed and rigid IT systems often inhibited banks in their attempts to re-engineer their business processes. The IBM® smarter banking initiative highlights how more intelligent software can be used to significantly improve the end-to-end integration of banking processes. In this IBM Redbooks® publication, we aim to show how software technologies, such as SOA, Web 2.0 and event driven architectures, can be used to implement smarter banking solutions. Our focus is on CICS® Transaction Server, which is at the heart of most bank's core banking implementations.
Criminal Law in Serbia by Zoran Stojanovi?,Djordje Ignjatovi?,Vanja Bajovi? Pdf
Derived from the renowned multi-volume International Encyclopaedia of Laws, this book provides a practical analysis of criminal law in Serbia. An introduction presents the necessary background information about the framework and sources of the criminal justice system, and then proceeds to a detailed examination of the grounds for criminal liability, the justification of criminal offences, the defences that diminish or excuse criminal liability, the classification of criminal offences, and the sanctions system. Coverage of criminal procedure focuses on the organization of investigations, pre-trial proceedings, trial stage, and legal remedies. A final part describes the execution of sentences and orders, the prison system, and the extinction of custodial sanctions or sentences. Its succinct yet scholarly nature, as well as the practical quality of the information it provides, make this book a valuable resource for criminal lawyers, prosecutors, law enforcement officers, and criminal court judges handling cases connected with Serbia. Academics and researchers, as well as the various international organizations in the field, will welcome this very useful guide, and will appreciate its value in the study of comparative criminal law.
Preventing Money Laundering and Terrorist Financing by Anonim Pdf
"Money laundering and terrorist financing are serious crimes that affect not only those persons directly involved, but the economy as a whole. According to international standards, every bank has the obligation to know its customers and to report suspicious transactions. Although these obligations sound straightforward, they have proved challenging to implement. What information precisely has to be gathered? How should it be recorded? If and when does one have to file a suspicious transaction report? It is here that a supervisor can play a crucial role in helping supervised institutions; first, in understanding the full extent of the obligations of Customer Due Diligence and Suspicious Transaction Reports (STR) and, second, in ensuring that those obligations are not just words on paper but are applied in practice. Effective supervision is key to the success of a country's AML/CFT system. In this regard, field work in both developed and developing countries has shown an overall low compliance in the area of supervision of banks and other financial institutions; supervisory compliance is indeed generally lower than the average level of compliance with all Financial Action Task Force recommendations. As a result, by providing examples of good practices, this book aims to help countries better conform to international standards. In this regard, this handbook is specifically designed for bank supervisors.
The United Nations Convention Against Corruption by Cecily Rose,Michael Kubiciel,Oliver Landwehr Pdf
The United Nations Convention against Corruption includes 71 articles, and takes a notably comprehensive approach to the problem of corruption, as it addresses prevention, criminalization, international cooperation, and asset recovery. Since it came into force more than a decade ago, the Convention has attracted nearly universal participation by states. As a global and comprehensive convention, which establishes new rules in several areas of anti-corruption law and helps shape domestic laws and policies around the world, this treaty calls for scholarly study. This volume helps to fill a gap in existing academic literature by providing an invaluable reference work on the Convention. It provides systematic coverage of the treaty, with each chapter discussing the relevant travaux préparatoires, the text of the final article, comparisons with other anti-corruption treaties, and available information about domestic implementing legislation and enforcement. This commentary is designed to serve as a reference work for academics, lawyers, and policy-makers working in the anti-corruption field, and in the fields of transnational criminal law and domestic criminal law. Contributors include anti-corruption experts, scholars, and legal practitioners from around the globe.
Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Romania 2016 Phase 2: Implementation of the Standard in Practice by OECD Pdf
This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Romania.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 141 pages File Size : 49,8 Mb Release : 2019-02-05 Category : Business & Economics ISBN : 9781484397862
Republic of Armenia by International Monetary Fund. Monetary and Capital Markets Department Pdf
This detailed assessment of observance has been conducted against the standard issued by the Basel Committee on Banking Supervision in 2012. The report also highlights that the Central Bank of Armenia has made significant progress in its approach to banking supervision with adoption of the risk-based program (RBS) framework and addressing gaps in the regulatory framework identified in the 2012 Basel Core Principles assessment. Improvements have been made in the regulatory regime regarding requirements for risk management, stress testing, corporate governance, country risk and consolidated supervision. Although the supervisory regime has recently transitioned from a rules-based to an RBS, there is a need for continued refinement of the program for more granular assessments of firms’ capital needs. The process for conducting risk assessments of each firm has identified a need for building a stronger and more structured (system-wide) understanding of the level and magnitude of risk and the risk management capabilities across banking firms.