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- Title
TECHNICS OF PRUDENTIAL SUPERVISION IN THE FIELD OF PREVENTION AND COMBAT OF MONEY LAUNDERING.
- Authors
GEORGESCU, ELENA
- Abstract
Fighting money laundering has been given top priority at European Union level. An appropriate strategy for this fight requires a better understanding of this criminal threat. Therefore, effective supervision is crucial for the success of a country's AML/CFT system. To this purpose, recent developments in international and EU standards have determined a convergence toward a risk-based approach to AML/CFT. The new approach promotes the prioritization of effort and activity by reference to the likelihood of money laundering and reflects experiences and proportionality through the tailoring of effort to risk. New tools and methodologies have been developed to support the new approach and in the long run, the effectiveness of the supervisory system is still challenged.
- Subjects
PRUDENCE; PREVENTION of money laundering; MONEY laundering; EUROPEAN Union; SUPERVISORS
- Publication
Romanian Journal of Forensic Science, 2012, Vol 79, Issue 1, p946
- ISSN
2069-2617
- Publication type
Article