The Flow of Illicit Funds: A Case Study Approach to Anti-Money Laundering Compliance

High-profile case studies provide compliance professionals with a deep, holistic understanding of modern-day money laundering to better detect and deter it. Money laundering is a serious crime that impacts the global financial system, leading to crime, corruption, human exploitation, and environmental degradation. Recent advances in technology, communications, and globalization have made it more difficult to catch criminals and expose their underground networks. Ola M. Tucker's book "The Flow of Illicit Funds" provides professionals with a comprehensive understanding of the modern money laundering system, including common techniques used by criminals, the role of the financial system, and how financial institutions can protect themselves.

Format: Paperback / softback
Length: 248 pages
Publication date: 01 July 2022
Publisher: Georgetown University Press

Money laundering is a grave criminal offense that poses a significant yet often underestimated global threat. While it is commonly perceived as a victimless crime, its far-reaching consequences impact the entire global financial system, fostering further criminal activities, corruption, human exploitation, and environmental degradation, resulting in immense human suffering, particularly among the most impoverished populations. The advent of technology, communication, and globalization has led to an unprecedented surge in the circulation of illicit funds, making it imperative for compliance professionals to navigate a complex web of criminal activity to apprehend these criminals and expose their underground networks.

In his book, "The Flow of Illicit Funds," Ola M. Tucker delves beyond the mere implementation of anti-money laundering compliance programs commonly found in guides. He offers a comprehensive understanding of the modern money laundering system, drawing from recent case studies to illustrate the most common techniques employed by criminals. Tucker elucidates the crucial role of the financial system in facilitating the disguise and transfer of illicit funds, providing valuable insights into how financial institutions can safeguard themselves from being utilized as conduits for the movement of dirty money.

The book concludes with practical suggestions aimed at assisting compliance professionals in enhancing their ability to detect and deter money laundering. By gaining a broader overall perspective on the process of money laundering and the tactics criminals employ, including valuable insights into how criminals exploit vulnerabilities within financial systems, compliance professionals and students will acquire a more comprehensive understanding of this critical issue. This knowledge will empower them to play a vital role in safeguarding the integrity of the financial system and promoting global economic stability.

Dimension: 229 x 152 (mm)
ISBN-13: 9781647122478