...CAVEHILL SCHOOL OF BUSINESS | Code and Title: Business Research GEMA6160 | Lecturer: Professor Jason Marshall | | Student ID: | 3/28/2014 | | RESEARCH TOPIC: Preventing Money Laundering: An assessment of an indigenous and a International Bank operating in Antigua and Barbuda Table of Contents Executive Summary…………………………………………………………………………………………………………………………3 Introduction……………………………………………………………………………………………………………………………………4 Background………………………………………………………………………………………………………………………..5 Rationale……………………………………………………………………………………………………………………..…….5 Purpose of Study………………………………………………………………………………………………………………..6 Literature Review…………………………………………………………………………………………………………………………...6 Methodology………………………………………………………………………………………………………………………….………9 Research Design………………………………………………………………………………………………………………..9 Participants……………………………………………………………………………………………………………………….9 Material…………………………………………………………………………………………………………………………….9 Procedures………………………………………………………………………………………………………………………..10 Limitations…………………………………………………………………………………………………………………………11 Presentation of Findings…………………………………………………………………………………………………………………15 Analysis of Findings………………………………………………………………………………………………………………..………17 Recommendations………………………………………………………………………………………………………………………...18 Conclusion……………………………………………………………………………………………………………………………………..19 References……………………………………………………………………………………………………………………………………..20 Appendices…………………………………………………………………………………………………………………………….………21 Appendix A………………………………………………………………………………………………………………………...
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...Study Guide for the Certification Examination Fifth Edition ACAMS.org ACAMS.org/español ACAMSToday.org MoneyLaundering.com Study Guide for the Certification Examination Fifth Edition a publication of the association of certified anti-money laundering specialists Study Guide for the Certification Examination Fifth Edition Executive Vice President John J. Byrne, CAMS Editor Robert S. Pasley, CAMS Co-Editor Kevin M. Anderson, CAMS Contributors Joyce Broome, CAMS Heather Brown, CAMS Aub Chapman, CAMS Vasilios Chrisos, CAMS David Clark, CAMS Jurgen Egberink, CAMS Michael D. Kelsey, CAMS Saskia Rietbroek, CAMS Nancy J. Saur, CAMS Mansoor Siddiqi, CAMS Daniel Soto, CAMS Timothy White CAMS Production Assistant Catalina Martinez We would like acknowledge the following individuals for their contributions to the CAMS Exam, and the Online and Live Preparation Seminars: Kevin M. Anderson, CAMS Joyce Broome, CAMS Aub Chapman, CAMS David Clark, CAMS Josue Garcia, CAMS Hoi Luk, CAMS Ira Morales Mickunas, CAMS Robert S. Pasley, CAMS Karim Rajwani, CAMS Mansoor Siddiqi, CAMS Saskia Rietbroek, CAMS Ed Rodriguez, CAMS Nancy J. Saur, CAMS Wendy Steichen, CAMS Brian J. Stoeckert, CAMS Charles Taylor, CAMS Will Voorhees, CAMS Natalie Ware, CAMS Peter Warrack, CAMS Amy Wotapka, CAMS Crispin Yuen, CAMS Copyright © 2012 by the Association of Certified Anti-Money Laundering Specialists (ACAMS). Miami, USA. All rights...
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...consequences apply for failure to comply with the acceptable standards of best practices of banking regulation which include fines, sanctions, jail terms and revocation of the banking license for willful or non-willful noncompliance. The physical disposal of proceeds of funds’ from crime with aim of separating same, through creation of layers to disguise trails of the source and make it seem legitimate undermines the integrity of the financial system. It is required of the banking sector to build a comprehensive framework that identifies, assesses, monitors, mitigates and reports perceptions of suspicious activities of money launderers under the discipline of the regulator to avoid being sanction for the related offences. This paper reviews theory to link practice towards money laundering risk assessment of banking customers to maintain the integrity of the financial sector. 2 Introduction In a deregulated financial economy without transaction costs and costless enforceable contracts, the choice between the financial market instruments and products the institutions sell to buyers pose no risk implications to the value of the firm in spite of the capital structure the firm might...
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...international organization to undertake significant actions to fight against money laundering through adopting several conventions and resolutions. Following UN action, the Financial Action Task Force on Money Laundering (FATF) was formed by G-7 countries in 1989 as the first intergovernmental body which has recommended forty recommendations to combat money laundering in 1990. In October 2001, the FATF expanded its mandate to deal with the funding of terrorist acts and terrorist organization, and it took the important step of creating the Eight (later expanded to Nine) Special Recommendations on Terrorist Financing. These 40+9 Recommendations have been endorsed by over 180 countries and are universally recognized as international standard for AML/CFT program. To oversee the implementation of these recommendations in Asia Pacific Region, the Asia/Pacific Group on Money Laundering (APG), FATF-style regional body, was founded in 1997, of which Bangladesh is a founding member. FATF has...
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...Introduction Project Findings Due Diligence for Correspondent Accounts Wolfsberg Principles for Correspondent Banking Standard Due Diligence Information to be Provided Availability of the Standard Due Diligence Information Dissemination of the Standard Due Diligence Information Further Information on Establishment and Maintenance of Correspondent Banking Accounts Appendix I: Checklist of Core Information Required Appendix II: Templates of Forms (Blank) 14 15 16 3 4 5 6 7 10 11 12 Disclaimer: This guide was developed specifically to provide information and guidance relating to the application process for opening a Correspondent Bank account or responding to an inquiry from a counterparty bank undertaking a “Know Your Customer” compliance review. Each bank that offers banking services will have its own documentation requirements which may differ from what is set out in this guide. Hence, the procedures and standards set out in this guide do not guarantee the sufficiency of any information that may be provided to, or accepted by, another financial institution. This guide is also not intended to provide information regarding the preparation of policies and procedures relating to anti-money laundering or compliance with other relevant banking and other statutes and regulations that may be the subject of a correspondent or counterparty bank information request. This guide does not constitute legal advice. Users of this guide are urged to contact appropriate authorities in the jurisdictions...
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...Module 1 - The Accoutant As Strategic Business Adviser The Need For Advice 1.4 (9 issues small business entrepreneurs seek advice about - business structure, IP, liability, regulation, contracts, etc) 1.4 (Malach, Robinson & Radcliff 2006) 1.4 (business efficiency & productivity, management information systems, risk management & internal controls) 1.5 (strategic level - selecting appropriate growth strategies, identifying new products and markets, etc) 1.5 (the need for advice variety of reasons - consider the demand for advice arises) 1.5 (Xiao & Fu 2009) 1.5 Table 1.1 - Characteristics Of Different Sized Organisations 1.6 (SE MSE LE - organisation, strategy, customer/community, financial, governance, work force, IT processes) 1.6 Requests For Advice: Operational - Srategic - Global 1.7 (improving operational performance, greater strategic role, globally relevant issues) 1.7 Example 1.1: A Busniess Dilemma 1.7 Counterpoint (opposing arguement, soft skills, first: make the right decision about the services they perform - second:) 1.7 Providing And Implementing Advice (technical skills, soft skills) 1.8 Figure 1.1 - Providing Business Advisory Services 1.8 (issue, requirement, request, investigation, advice, decision, implementation) 1.8 (recommend actions should be well supported, identify key stakeholders) 1.9 Figure 1.2 - The Chain Of Events For Business Advisory Services) 1.9 Example 1.2: Succession Plan - Please Help 1.9 ...
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...1.1Introduction to Training and Development Definition of Training: Training is a systematic development of knowledge, skills and attitudes required by an individual to perform adequately a given task or job. Training refers to efforts that help enhance employee skills for carrying out the present job. According to Edwin B Flippo, training is the act of increasing knowledge and skills of an employee for doing a particular job. Needs for training: • To improve the current job performance of employees • To familiarize employees with the policies and procedures of the organization. • To enhance the creativity, adaptability and versatility of the employees and to facilitate learning at the work place • To prepare employees for future job. • To change the skills, knowledge and attitudes of the employees on a permanent basis. • To help employees manage their careers. • To maintain knowledgeable work force. • To gain competitive advantage through a knowledgeable work force. • To promote organizational growth through individual growth. Areas of training: • Company policies and procedures • Human relations training • Skill based training • Problem solving training Onsite Workshops for Leadership Team Employees need more than bosses... They need mentors: Professionals skilled at assessing employee development needs and committed to guiding employees toward professional success. Leadership Training...
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...www.ccsenet.org/ijbm International Journal of Business and Management Vol. 6, No. 8; August 2011 The Influence of Knowledge Management System (KMS) on Enhancing Decision Making Process (DMP) Wafa Mohammed College of Business and Finance, Ahlia University P.O. Box 10878, 1st Floor Gosi Complex Exhibitions Road, Manama, Kingdom of Bahrain Akram Jalal Management Information System Department College of Business and Finance, Ahlia University P.O. Box 10878, 1st Floor Gosi Complex Exhibitions Road, Manama, Kingdom of Bahrain Tel: 973-3838-3411 E-mail: ajalal@ahliauniversity.edu.bh Received: February 25, 2011 Accepted: March 22, 2011 doi:10.5539/ijbm.v6n8p216 Abstract Recently, Knowledge Management System acquires high attention in all sectors, since it is a valuable instrument in improving performance. In this study, an explanatory research on evaluating knowledge management systems will be conducted for the Central Bank of Bahrain (CBB) based on a survey of decision makers working in the Central Bank of Bahrain (CBB). It is our intention to evaluate the impact of implementing the knowledge management system on decision making by evaluating the impact of the knowledge key factors which are the information technology infrastructure, human resource, knowledge sharing and the culture of the organization. The study investigates the relationship between knowledge management and decision making. It reveals that the knowledge management factors are crucial indicators which need...
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...criminal activity which causes serious social and economic damages. The traditional method of money laundering is through financial institutions. However, with the development of new science and technology the approaches of money laundering have become more and more diverse. This paper is discussing the legal and ethical issues which surround this topic, as well as, develop an analysis for the ethical concerns raised by the laundering of money. The writer will then provide explanations from at least three relevant areas of law that have been discussed throughout the course and assess each area as it applies to money laundering. Finally, the write will provide recommendations on this situation to reduce liability exposure and improve the ethical climate or the overall ethics of money laundering. Is money laundering a real problem in the world today? I. Introductions There are many ethical issues that can arise in the course of operating a small business. A comprehensive understanding of the different types of ethical issues will help you to identify and handle this situation’s responsibility to maintain core business values. Let’s look at this scenario for example, money laundering. This paper is discussing the legal and ethical issues which surround this topic, as well as, develop an analysis for the ethical concerns raised by the laundering of money. The writer will then provide explanations from at least three relevant areas of law that have been discussed throughout...
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...A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. This book is printed on acid-free paper. Copyright © 2006 by PricewaterhouseCoopers LLP. PricewaterhouseCoopers refers to the individual member firms of the worldwide PricewaterhouseCoopers organization. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, 201-748-6011, fax 201-748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this...
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............................................................................................... I . I1 . 3 4 10 10 11 13 14 14 17 19 THE GLOBAL AGENDA .......................................................................................... PROGRESS IN THE IFA AGENDA ....................................................................... The Financial Sector Assessment Program (FSAP) ............................................. The Reports on the Observance o f Standards and Codes (ROSC) ....................... The Financial Sector Reform and Strengthening Initiative (FIRST) .................... The Financial Sector Reform and Strengthening Initiative (FIRST) .................... Combating Money Laundering and Terrorist Financing (AML/CFT) ................. Debt Sustainability & Debt Management ............................................................. Social Protection................................................................................................... A. B. C. C. D. E. F. ANNEX Accounting and Auditing ........................................................................................... Corporate Governance ............................................................................................. Insolvency and Creditor Rights ................................................................................ 22 28 33 2 INTRODUCTION 1. In response to major financial crises in the 1990s, the international community embarked o n a...
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...Mobile Banking “Banking in Your Hand” 11/24/2013 Department of Management Information Systems University of Dhaka Dhaka 1000, Bangladesh An Assignment on “Mobile Banking” Prepared by: ID: 05-036 ID: 05-048 ID: 05-053 ID: 05-054 ID: 05-067 Md. Khalilur Rahman Ashik Ahmed Md. Taijul Islam Jowel Sarker Md. Nurul Amin Prepared for: Mr. Ariful Islam Apu Lecturer Department of Management Information Systems University of Dhaka Page 2 of 26 Executive Summary Importance of banking system in a country is increasing day by day. It is quite impossible for any country to develop in industrial and commercial sector without sound banking system in modern economic era. Mobile Banking is one of the significant functions of the bank. It plays a vital role in overall economy of the country. Bank collects information from numerous sources relating to cost and revenue from Customer Management. Globalization of national economies has given a boost to international trade. The seller and the buyer in an international trading transaction must agree for a product or its quality, price etc. enter into a sales contract, spelling out precisely shipping and delivery details, terms of payment, required documentation and other related issues including dispute settlement procedure and legal framework available. The major objectives of my report is to describe the Mobile banking system of our country, measurement the employee behavior and performance, determine the wide range of services, and evaluate...
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...A Monthly Newsletter of Indian Institute of Banking & Finance (ISO 9001 : 2008 CERTIFIED ORGANISATION) (Rs. 40/- per annum) Committed to professional excellence Volume No. : 5 Issue No. : 6 January 2013 Mid-Quarter Monetary Policy Review - 18th Dec., 2012 Monetary and Liquidity Measures q The Cash Reserve Ratio (CRR) of scheduled banks remains unchanged at 4.25% of their Net Demand and Time Liabilities (NDTL). q Repo Rate under the Liquidity Adjustment The Facility (LAF) remains unchanged at 8%. qReverse Repo Rate under the LAF remains The unchanged at 7%. q The Marginal Standing Facility (MSF) and Bank Rate stands at 9%. Growth In Q2 of 2012-13, GDP growth at 5.3% was marginally lower than 5.5% recorded in Q1. On the domestic front, GDP growth is evolving along the baseline projection of 5.8% for 2012-13. Industrial activity rose sharply in October due to a low base and festive demand, propelling the growth of both consumer durables and non-durables into double digits. Significantly, capital goods production recorded a growth of 7.5% after 13 successive months of decline. Inflation Headline WPI inflation edged down to 7.2% in November due to softening of prices of vegetables, minerals and fuel. The new combined (rural and urban) CPI (Base : 2010 = 100) inflation increased in November, reflecting sustained food inflation pressures, particularly for vegetables, cereals, pulses, oils and fats. Monetary and Liquidity Conditions Money Supply (M3) growth remained...
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...Executive Summary The financial institutions industry in our country represents one of the most important industries those control the monetary flow in the economy. From the very first of its journey (Started by Industrial Promotion Company of Bangladesh Limited.) this industry has shown so much prospect as well as progress. Sharing some common characteristics of Banks & some of its own it brought diversification in the financial market. In the same time it witnessed impressive growth during the last years. In our country like most other industries financial institutions are also big city especially Dhaka concentrated. Financial institutions rarely spread their branches outside divisional cities let alone the urban areas. So the fierce competition among as well as across the group is strengthening. So the market segmentation, expansion and product diversification may be some key tools to get out of the situation for the FIs. But currently the industry seems to become matured with so many competitors. The recent inclusion of another two new financial institutions (Bangladesh Infrastructure Finance Fund Limited (BIFFL) & Agrani SME Financing Company Limited) in the market has increased the number of competitors at 31. From the research & provided data it is very clear that the companies are trying to strengthen their position in the market as the investment n fixed asset seems to on the rise. Besides following the stock market crash in 2010 and recent rise in the...
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...www.reachemmanuel.com http://www.facebook.com/group.php?gid=10150123270910088 ============================================ 1) COMMUNICATIONS ASSISTANT / ADMINISTRATOR (QATAR) Position Profile A Communications Assistant/Administrator supports multiple account teams and must be able to efficiently service each of these teams. Communications Assistant/Coordinator must have excellent organizational skills and the ability to adapt to multiple assignments and deadlines as well as an environment that changes frequently. The focus of the position is on managing invoicing, procedures, preparing presentations, management of process and procedure, clip reports, briefing materials, etc. Primary Responsibilities 1) Client • • Proactive in understanding IPN’s portfolio of client’s Have a clear understanding of clients organisational structures and key contacts 2) Media • • • Develop and maintain media contact lists and database - Mediadisk Continually update knowledge of new media Maintain comprehensive library of media titles and subscription 3) Writing • • • Assist in formatting new business presentation and preparation Management of procedures and processes Prepare clip reports and summaries as needed by teams 4) Team Support • Actively participate in agency development by assisting with urgent clients needs • • • • Continually update line managers on progress of activities Balance workload between account staff to ensure that all work is accurate and completed within established...
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