This paper examines the anti-money laundering systems of Australia, the United Arab Emirates (UAE), the United Kingdom (UK) and the United States of America (USA), the extent to which they have implemented the Financial Action Task Force (FATF) recommendations, and how compliance with these recommendations is affected by local cultural and economic factors. The paper makes use of FATF evaluatio...

The first stage in the process is placement. The placement stage involves the physical movement of currency or other funds derived from illegal activities to a place or into a form that is less suspicious to law enforcement authorities and more convenient to the criminal. The proceeds are introduced into traditional or nontraditional financial institutions or into the retail economy. The second...

t the core of all wire transfer monitoring proposals are one or more computer technologies. Many of these technologies rely upon techniques developed in the field of artificial intelligence (AI). Others involve computer graphics and statistical computing. Wire transfer monitoring proposals generally involve a combination of technologies, institutional structures, and reporting requirements. Fou...

1,2 Department of Computer Engineering 1,2 Ipcowala Institute of Engineering & Technology, Dharmaj, Anand, Gujarat, India 388430 Abstract— Nowadays, banking frauds like money laundering becomes more and more sophisticated. Money laundering is a process by which legally obtained funds are given the appearance of having been legally obtained. There are various techniques for detecting the differe...

Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most international financial institutions have been implementing anti-money laundering solutions (A...

A comparison of Terylene and cotton overalls has been made in the lead-acid electric accumulator industry. Six hand pasters wore personal lead-in-air samplers for two weeks. Three of the men wore cotton overalls the first week and Terylene overalls the second; the other three men wore Terylene overalls the first week and cotton overalls the second. The mean lead-in-air concentration in the brea...

The present work examines the effectiveness of pairing a charitable donation with a product purchase. We propose a compensatory process, in which the guilt-laundering properties of charitable donations are more appealing the more consumption guilt is experienced. Consumption guilt is dependent on both product type (hedonic vs. utilitarian) and consumer characteristics (guilt-sensitivity), such ...

The paper shows how excessive reporting, called “crying wolf”, can dilute the information value of reports. Excessive reporting is investigated by undertaking the first formal analysis of money laundering enforcement. Banks monitor transactions and report suspicious activity to government agencies, which use these reports to identify investigation targets. Banks face fines should they fail to r...