Financial Crime Compliance

Financial Crime Compliance and Anti money laundering and Counter Terrorism Financing (AML/CFT) Compliance is the similar issue that a reporting entity under Money Laundering Prevention Act 2012 required to comply. This book, my second attempt, is designed for the officials of the banks, non-bank financial institutions, insurance companies, capital market intermediaries, digital financial service providers including mobile financial services, designated non- financial business and professions, for example, real estate, jewelers, lawyer and chartered accountants. I am confident that this book will also be helpful for the relevant Professional Certificate Exams on AML/CFT or Financial Crime Compliance. This book addresses all the day to day AML/CFT or Financial Crime Compliance activities by the reporting entities not only under the Money Laundering Prevention Act 2012, but also as per the international standards and best practices which includes AML/CFT risk assessment and management, responsibility of senior management, KYC and CDD, transaction monitoring, sanction regime and other statutory obligations as well as it has brought forward some new ideas, for example, score based CDD, digital KYC, CAMLCO report etc. Additionally, this book also discusses the new area of AML/CFT i.e. basic compliance related to digital innovation, and use of artificial intelligence and big data in the CDD process.