Anti-money Laundering and Counter-terrorism Financing
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By: Rosamund Grady, Andrea Patricia Beatty
"This subscription work, which will be delivered in both looseleaf and online formats, is focused on assisting lawyers and accountants tasked with advising their clients as to what they need to do to comply with the Anti-Money Laundering and Counter -Terrorism Reforms. Its key elements include legislation, with the primary Act annotated. It also contains related legislation and other materials." -- Provided by publisher.
AI Overview
The book "Anti-money Laundering and Counter-terrorism Financing" by Rosamund Grady and Andrea Patricia Beatty does not appear to be a widely recognized or commercially available publication. However, it is mentioned in a context related to anti-money laundering (AML) and counter-terrorism financing (CTF) literature, specifically in a 2007 paper discussing robotic line following competitions at the University of Wollongong, which includes a brief mention of the authors and their work in the field of AML and CTF.
Given the lack of detailed information about this specific book, I will provide a general overview of the broader topic of anti-money laundering and counter-terrorism financing, which is a critical area of law and policy.
Key Themes in Anti-Money Laundering and Counter-Terrorism Financing
Regulatory Frameworks:
- The regulatory frameworks for AML and CTF are complex and multifaceted. They often involve a combination of national and international laws, such as the Monetary Authority of Singapore Act, Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, and the Terrorism (Suppression of Financing) Act.
Compliance Requirements:
- Organizations offering designated services must comply with a multitude of obligations, including customer identification processes, transaction monitoring, and adherence to MAS Notices and Guidelines.
Risk Management:
- Effective risk management is crucial in identifying, mitigating, and managing money laundering and terrorism financing risks. This includes practical guidance on the identification and mitigation of these risks.
International Regulation:
- International regulation plays a significant role in combating money laundering and terrorism financing. Organizations must comply with both national and international regulations to ensure comprehensive coverage.
Enforcement:
- Regulatory bodies, such as the Monetary Authority of Singapore, enforce compliance through various mechanisms, including enforcement actions and guidelines.
Critical Reception
While there is no specific critical reception for the book "Anti-money Laundering and Counter-terrorism Financing" by Rosamund Grady and Andrea Patricia Beatty, the broader topic of AML and CTF has received significant attention and criticism in academic and professional circles. The effectiveness of AML and CTF regulations is often debated, with some arguing that the measures can be overly burdensome on businesses while others advocate for more stringent enforcement to combat financial crimes effectively.
For a comprehensive understanding of the regulatory landscape and best practices in AML and CTF, it is recommended to refer to more recent and widely recognized publications or modules on the subject, such as those provided by LexisNexis.