Anti-Money Laundering in a Nutshell is a concise accessible and practical guide to compliance
with anti-money laundering law for financial professionals corporate investigators business
managers and all personnel of financial institutions who are required under penalty of hefty
fines to get anti-money laundering training. This new edition of Anti-Money Laundering will
update the topics discussed and introduce the changes and updates including information on the
AMLA Act of 2020 new EU standards and directives anti-money laundering on digital currencies
and more. Money laundering is endemic. As much as 5 percent of global GDP ($3.6 trillion) is
laundered by criminals each year. It's no wonder that every financial institution in the United
States-including banks credit card companies insurers securities brokerages private funds
and money service businesses-must comply with complex examination training and reporting
requirements mandated by a welter of federal anti-money laundering (AML) laws. Ignorance of
crime is no excuse before the law. Financial institutions and businesses that unknowingly serve
as conduits for money laundering are no less liable to prosecution and fines than those that
condone or abet it. In Anti-Money Laundering in a Nutshell: Awareness and Compliance for
Financial Personnel and Business Managers Kevin Sullivan draws on a distinguished career as an
AML agent and consultant to teach personnel in financial institutions what money laundering is
who does it how they do it how to prevent it how to detect it and how to report it in
compliance with federal law. He traces the dynamic interplay among employees regulatory
examiners compliance officers fraud and forensic accountants and technologists criminal
investigators and prosecutors in following up on reports catching launderers and protecting
the integrity and reputations of financial institutions and businesses. In particular
corporate investigators will gain rich insights winnowed from the author's experiences as a New
York State and federal investigator.
