The United Nation’s Vienna & Palermo resolutions, the UN’s convention against corruption, the UN’s Protocol against the illicit Manufacturing and Trafficking in Firearms and the recommendations of the Financial Action Task Force, form the foundation for the book. It explains the methods, mechanisms, techniques and instruments of money laundering by analyzing, elaborately, over a hundred and fifty case studies from across the globe.
The economic consequences of money laundering include the size of the shadow economy, the link between organized crime and the financing of terrorism.
A risk-based approach in managing operations is explained for the different sectors of the eco-system and for a national AML-CFT program. Globally accepted methodologies, best practices to prevent and detect money laundering are also explained.
The World Bank, IMF and Basel approaches to conduct a National Money Laundering & Financing of Terrorism risk assessment are used to explain the approach to measure the effectiveness of a national AML-CFT program.
The national AML-CFT program is an essential component of a governance model. The benefits of implementing a National Integrity System that some countries have already adopted are explained in the book.
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Kannan Subramanian
Kannan Subramanian R (Mobile: 91-9043013500)
A Chartered Accountant with over twenty seven years of experience in delivering solutions for the Banking & Financial Services industry across the world. He has worked for Standard Chartered Bank and for leading banking solution companies including the leading risk management solution vendor Algorithmics (now part of IBM Risk Management & Analytics).
Qualification & Membership:
ACA - Associate Chartered Accountant, Institute of Chartered Accountants of India
CISA (Non Practicing) -Information Systems Audit & Control Association - USA
CAMS – Association of Certified Anti-Money Laundering Specialists –USA
Professional Member – Institute of Operational Risk, UK
Member, Association of Certified Fraud Examiners, USA
Associate Member - Chartered Islamic Finance – INCEIF, Malaysia
Experience:
Domain: Banking & Finance
Banking Exposure: In depth knowledge of Corporate, Retail / Private Banking, Islamic Banking, Treasury, & Risk Management.
Instrument Coverage: Retail, Corporate, Islamic & Treasury
Markets : Very good exposure to different financial markets. Implemented Banking solutions in North America, Europe, Middle East and Asia.
Control Frameworks : CoBIT, COSO; & SOX 404 Requirements.
Process Framework : Proprietary BPM platforms
Software Products/Application (Illustrative): Corebanking-Bankmaster, Flexcube, Trade Finance-Exim Bills, Risk Management (Market, Credit, Operational, Liquidity), Algorithmics Risk Watch, Oracle Reveleus.
Other Contributions:
Author of a book titled The Money Laundering and Financing of Terrorism Eco-System
Book titled a Process based approach to Operational Risk Management was published in March 2015. https://www.ior-institute.org/publications/process-based-approach-to-operational-risk-management
One of the authors of a book titled Operational Risk 2.0 published by Risk Books, UK.
Program Management - Core Banking Transformation published by Project Management Institute, USA. http://www.pmi.org/
