Compliance and financial crime risk in banks : a practitioners guide

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. 'Co...

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Bibliographic Details
Main Author: Velez, Sophia Beckett, (Author)
Format: eBook
Language: English
Published: Leeds : Emerald Publishing Limited, 2024.
Subjects:
Financial services industry > Law and legislation > United States.
Bank management > United States.
Financial risk management > United States.
Business & Economics > Banks & Banking.
Banking.
elektronické knihy
electronic books
ISBN: 9781835490433
Physical Description: 1 online resource (192 pages)

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Table of contents

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020 |a 9781835490433  |q (e-book) 
040 |a UtOrBLW  |b eng  |e rda  |c UtOrBLW 
043 |a n-us--- 
080 |a 336.7 
100 1 |a Velez, Sophia Beckett,  |e author. 
245 1 0 |a Compliance and financial crime risk in banks :  |b a practitioners guide /  |c Sophia Beckett Velez, Ph.D. 
264 1 |a Leeds :  |b Emerald Publishing Limited,  |c 2024. 
264 4 |c ©2024 
300 |a 1 online resource (192 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
500 |a Includes index. 
504 |a Includes bibliographical references. 
505 0 |a 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. 
505 8 |a 5. Implications of Compliance Weakness in Banks and Regulatory Penalties -- 6. Bank Secrecy Act Anti-Money Laundering Compliance Practices -- Ineffective Practices -- 7. Capital Requirements -- Ineffective Practices -- 8. Training -- 3 -- Compliance Environment and Effective Leadership Practices -- 9. Sanctions -- 10. Office of Foreign Assets Control (OFAC) Compliance Practices -- 11. Capital Requirements -- Effective Practices -- 12. Bank Secrecy Act Anti-Money Laundering Compliance Practices -- Effective Practices -- References -- Index. 
520 |a 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. 
588 0 |a Print version record. 
650 0 |a Financial services industry  |x Law and legislation  |z United States. 
650 0 |a Bank management  |z United States. 
650 0 |a Financial risk management  |z United States. 
650 7 |a Business & Economics  |x Banks & Banking.  |2 bisacsh 
650 7 |a Banking.  |2 thema 
655 7 |a elektronické knihy  |7 fd186907  |2 czenas 
655 9 |a electronic books  |2 eczenas 
776 0 8 |i Print version:  |z 9781835490426 
776 0 8 |i PDF version:  |z 9781835490419 
856 4 0 |u https://proxy.k.utb.cz/login?url=https://doi.org/10.1108/9781835490419  |y Full text 

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