Risk Profiling of Money Laundering and Terrorism Funding - Practical Problems of Current Information Strategies
نویسنده
چکیده
In order to track money laundering and terrorist funding, banks have to create risk profiles of their clients. Banks that want to do business in the United States have to implement a worldwide Know Your Customer (KYC) program, partially based on the Patriot Act. Implementing a KYC policy, however, raises several problems and seems to be neither effective nor efficient in tracking money laundering and terrorist funding. Given problems regarding the identification of individuals, it is not too difficult for criminals and terrorists to avoid being detected by certain types of screening. In this contribution, the way risk profiling strategies are implemented in practice are discussed, including the problems this may raise.
منابع مشابه
Money Laundering and Financing of Terrorism
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