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- Title
The Anti-Money Laundering Complex in the Modern Era--Part I.
- Authors
White, Linn
- Abstract
This multi-part article explores the evolution of anti-money laundering ("AML") legislation from the Bank Secrecy Act to the latest risk-based approaches suggested by the Financial Action Task Force, and highlights some potentially critical flaws in AML administration and execution. Emerging technological innovations are then examined, where it is posited that anti-money laundering efforts will likely continue to be frustrated regardless of the approach adopted by the various stakeholders. This first part of the article introduces the topic and provides a brief history of U.S. money laundering legislation. The final parts of the article, which will appear in upcoming issues of The Banking Law Journal, will examine the current AML regulatory environment, and decentralized value exchange and the underground economy.
- Subjects
MONEY laundering; FINANCIAL Action Task Force; BANKING laws; CONFIDENTIAL communications in banking; LEGAL status of stakeholders
- Publication
Banking Law Journal, 2016, Vol 133, Issue 10, p571
- ISSN
0005-5506
- Publication type
Article