Compliance Careerist

It is an emotional episode for me, or at least I think it was. I’d like to pay tribute to the victims and survivors of the terrible attacks that occurred just over twenty years ago on September 11, 2001. for many, the Memorial is seen as the place where the 21st century began. The attacks of September 11, 2001 may have happened here in the United States, but in truth, 9/11 was a global moment. Fast forward, in this episode I have addressed the USA Patriot Act provisions going through the highlights of the relevant provisions of the Act. Thank you all for listening ♥️

12 Money Laundering Techniques Money Launderers use to commit their laundering operations and hide the source of their illicit assets using different sophisticated methods.

I am going to explain money laundering and particularly its regulation in the United States. There are many U.S. laws that prohibit activities connected to money laundering.

Couldnt hold it but share my excitement after buying a Microphone 🎙 for my future podcasts. Such a Kid 👦

This episode provide a high level overview of the provision of both Money Laundering Suppression Act and Money Laundering and Financial Crimes Strategy Act. The Money Laundering Suppression Act Required banking agencies to review and enhance training, and develop anti-money laundering examination procedures Required banking agencies to review and enhance procedures for referring cases to appropriate law enforcement agencies Streamlined CTR exemption process Required each Money Services Business (MSB) to be registered by an owner or controlling person of the MSB Required every MSB to maintain a list of businesses authorized to act as agents in connection with the financial services offered by the MSB Made operating an unregistered MSB a federal crime Recommended that states adopt uniform laws applicable to MSBs. The second Act, Required banking agencies to develop anti-money laundering training for examiners Required the Department of the Treasury and other agencies to develop a National Money Laundering Strategy Created the High Intensity Money Laundering and Related Financial Crime Area (HIFCA) Task Forces to concentrate law enforcement efforts at the federal, state and local levels in zones where money laundering is prevalent. HIFCAs may be defined geographically or they can also be created to address money laundering in an industry sector, a financial institution, or group of financial institutions.