Difference between revisions of "AML"

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* 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

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.

Solutions

References