money laundering in financial institutions

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• Money laundering — is the process of disguising illegal sources of money so that it looks like it came from legal sources.[1] The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote… …   Wikipedia

• money laundering — the moving of the proceeds of crime through the financial system so as to conceal its nature. As a result of a European directive, the UK has implemented rules against this practice mainly through the Criminal Justice Act 1993. Aside from… …   Law dictionary

• Financial Action Task Force on Money Laundering — The Financial Action Task Force on Money Laundering (FATF), also known by its French name Groupe d action financière sur le blanchiment de capitaux (GAFI), is an inter governmental body founded in 1989 by the G7. The purpose of the FATF is to… …   Wikipedia

• Anti-money laundering — (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. Anti money laundering guidelines… …   Wikipedia

• Anti-money laundering software — is a term mainly used in the finance and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. Anti money laundering guidelines came into …   Wikipedia

• Office of Financial Institutions — The Office of Financial Institutions (OFI) is an agency of the United States federal government in the United States Department of the Treasury. OFI coordinates the Department s efforts regarding financial institutions legislation and regulation …   Wikipedia

• Financial intelligence — (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions. Generally the term applies in the context of law enforcement and related… …   Wikipedia

• Financial Action Task Force — (FATF) An inter governmental body which develops and promotes policies to combat money laundering. The G7 countries set up the FATF in July 1989, although its membership is now much wider. It aims to prevent banks and financial institutions from… …   Law dictionary

• Financial crimes — are defined as a crime against property, involving the unlawful conversion of property belonging to another to one’s own personal use and benefit. Financial crimes often involve fraud. Financial crimes are carried out via check and credit card… …   Wikipedia

• Financial Crimes Enforcement Network — Infobox Government agency agency name = Financial Crimes Enforcement Network logo = logo width = logo caption = seal width = 160px seal caption = formed = April 25, 1990 headquarters = Vienna, Virginia employees = budget = chief1 name = Director… …   Wikipedia

• Money services business — A Money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. The definition was created to encompass more than just Banks which normally provide these services to include non… …   Wikipedia