Anti–Money Laundering in a Nutshell: Awareness and Compliance for Financial Personnel and Business

Introduction

Many readers of this book may be involved with a financial institution as part of an anti–money laundering (AML) program or government agency investigating money laundering. As far as financial institution AML programs, I have found that many of these programs do a great job covering the basics; however, sometimes they lack in the area of truly explaining why the employee does the specific job assigned. Sure, AML employees have learned to click this box and select that radio button—a sort of “if this, then that” programing for AML personnel. I have often enjoyed seeing that “light bulb” moment when I have explained to AML employees the reasons why they click this button and select that box. It helps to know a little about the nomenclature ...