Difference between revisions of "AML"
From MgmtWiki
(→Financial Institutions) |
(→Financial Institutions) |
||
| Line 10: | Line 10: | ||
===Financial Institutions=== | ===Financial Institutions=== | ||
The following institutions are recognized by the US Financial Crimes Enforcement Network (FinCEN) as needing to comply: | The following institutions are recognized by the US Financial Crimes Enforcement Network (FinCEN) as needing to comply: | ||
| − | * Casinos | + | * Casinos (betting parlors, sports book) |
* Depository Institutions (Banks, thrifts) | * Depository Institutions (Banks, thrifts) | ||
* Insurance Industry (health, life, annuities, property, casualty) | * Insurance Industry (health, life, annuities, property, casualty) | ||
Revision as of 18:48, 21 February 2022
Contents
Full Title or Meme
Anti-Money Laundering Rules as established first in the US and then in international banking.
Context
Banks handle people's money with more or less discretion.
Taxonomy
- AML/CFT = anti-money laundering and countering the financing of terrorism
Financial Institutions
The following institutions are recognized by the US Financial Crimes Enforcement Network (FinCEN) as needing to comply:
- Casinos (betting parlors, sports book)
- Depository Institutions (Banks, thrifts)
- Insurance Industry (health, life, annuities, property, casualty)
- Money Services Businesses (Transmittals, Pay Day Loans)
- Mortgage Co/Broker (real-estate)
- Precious Metals/Jewelry Industry (bars, coins, bling)
- Securities and Futures (seems like blockchain has been added in here - think ICO = Initial Coin Offering)
Problems
Follow the money and you will find the crooks.
