Difference between revisions of "AML"
From MgmtWiki
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| Line 12: | Line 12: | ||
* Casinos | * Casinos | ||
* Depository Institutions (Banks) | * Depository Institutions (Banks) | ||
| − | * Insurance Industry | + | * Insurance Industry (property, health, casualty) |
* Money Services Businesses (Pay Day Loans) | * Money Services Businesses (Pay Day Loans) | ||
| − | * Mortgage Co/Broker | + | * Mortgage Co/Broker (real-estate) |
| − | * Precious Metals/Jewelry Industry | + | * Precious Metals/Jewelry Industry (bars, coins, bling) |
| − | * Securities and Futures | + | * Securities and Futures (seems like blockchain has been added in here - think ICO = Initial Coin Offering) |
==Problems== | ==Problems== | ||
Revision as of 16:00, 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
- Depository Institutions (Banks)
- Insurance Industry (property, health, casualty)
- Money Services Businesses (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.
