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Money laundering, terrorist financing and failure to comply with the strict international laws established to fight organized crime, drug trafficking and terrorism pose grave risks for companies. The number of individuals and firms subject to money laundering and terror finance legislation has never been greater.
Yet most books available on the subject are expensive specialist titles that are country or sector specific.
The Prevention of Money Laundering and Terrorist Financing is a new, reader-friendly guide based on the Financial Action Task Force (FATF) 40 + 9 Recommendations - published to bring about legislative and regulatory reforms in the area of money laundering and terrorist financing.
The ICC guide applies to all countries belonging to FATF or one of the regional equivalents - which include most countries of the world.
"Nothing is more important to the International Chamber of Commerce than the physical and economic safety of markets and their participants", said ICC Secretary General Guy Sebban. "This book is essential reading for corporations, their staff and their customers. It forms part of ICC's wider contribution to protecting the integrity of the global market and its participants against criminal and terrorist threats."
The Prevention of Money Laundering and Terrorist Financing uses original FATF case studies to illustrate its points. John Howell's easy writing style and some highly amusing illustrations from one of the UK's most famous cartoonists, David Langdon, make an otherwise daunting subject accessible to non-specialists.
Contents include:
" What is money laundering?
" The effects of money laundering on business
" How are businesses vulnerable?
" Responses to money laundering
" Using regulations, guidelines and procedures
" Special considerations by business sectors
" "Red Flags"
" Useful contact addresses
About the author
John Howell is an adviser to the State Bank of Baden-Württemberg and a member of the UK National Audit Office Regulatory Reform Panel. He has undertaken numerous country reviews in connection with the United Nations Security Council Resolution 1373 concerning terrorism.