Friday, March 29, 2013

Aml Kyc

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The ?ght against money clean
An economic analysis of a cost-bene?t paradoxon
Hans Geiger and Oliver Wuensch
Swiss Banking Institute, University of Zurich, Zurich, Switzerland
Purpose To provide an economic receive on the costs and bene?ts of anti-money wash (AML) efforts. Design/methodology/ glide path Based on a international, comparative study conducted in Switzerland, Singapore and Germany, the authors outline the impact of AML measures on banks and the ?nancial services industry. The makeup discusses possible reasons for the failure of AML to ?ght the predicated crimes. It also discusses the collateral damage caused by AML. Findings Compared with the monetary and non-monetary costs of money laundering prevention for the indian lodge and the economy, the bene?ts are small. Instead of broadening and deepening the current AML framework, a thorough review of the current approach should take place. enquiry limitation/implications Costs and bene?ts of AML measures are hardly quanti?able. The authors resort to a qualitative approach, stylising possible outcomes and side effects of money laundering prevention.

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Practical implications Useful set of arguments for discussing the bene?ts and shortcomings of the current and upcoming AML measures. Originality/ repute Money laundering measures and their impact are examined using prefatory laws of economy and ?nancial intermediation. Keywords Money laundering, Economic value analysis, Cost bene?t analysis Paper type Conceptual paper

The ?ght against money laundering 91

Prologue The Swiss Banking Institute of the University of Zurich has, in co-operation with universities in Germany and Singapore, conducted an international bailiwick on the anti-money laundering (AML) measures among banks in Switzerland, Germany and Singapore[1]. The conclusions of the survey are gravel: . Banks consider the...If you want to get a full essay, hostelry it on our website: Orderessay

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