Amid the turmoil in today's financial markets, money laundering remains a serious global issue that adversely impacts financial institutions and a multitude of other companies. To assist organizations in navigating the myriad and complex regulatory guidelines designed to curtail money laundering activities, Protiviti has updated and issued the third edition of its acclaimed Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions.
The International Monetary Fund (IMF) estimates the worldwide volume of money laundering to range from two percent to five percent of global gross domestic product, or approximately US$590 billion to US$1.5 trillion annually. To combat the problem, the United States, through such legislation as the USA PATRIOT Act, has enacted a vast array of anti-money laundering regulations with which financial institutions and other entities that deal with cash frequently such as casinos and jewelers must comply. Requirements similar to those in the U.S. have been enacted in countries across the globe.
Among the many areas addressed in Protiviti's comprehensive guide are: key elements of the Bank Secrecy Act; USA PATRIOT Act; nonbank financial institutions and nonfinancial businesses; transaction monitoring and investigations; anti-money laundering technology; Office of Foreign Assets Control (OFAC) and International Government Sanctions Programs
To obtain a complimentary copy of the third edition of Protiviti's Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions, please visit www.protiviti.com/go/amlfaqor call 1-888-556-7420.