Improving Anti-Money Laundering Compliance

This book provides practical recommendations on how to improve the effectiveness and efficiency of AML compliance by introducing the theory, framework and approach for dealing with the concerns of Money Laundering Reporting Officers (MLROs) within the UK banking industry. Accordingly, Bello focusses on providing a theoretical explanation of compliance behaviour which is inadequately covered. Although the research is centred on MLROs within the UK banking industry, the self-protecting theory discovered from the research has general application to other compliance officers within and outside the UK. It is also applicable to regulatory environments in other economic sectors. The choice of MLROs and the UK as the focus of the study was because these individuals are arguably the most important stakeholders in AML and the UK is one of the largest financial centres in the world that provides opportunity for money laundering activities. A methodological and detailed study, this bookwill be of particular interest to practitioners and the regulatory authorities, as well as scholars of criminology and finance.

Develops practical suggestions for improving effectiveness and efficiency in AML in the UK and internationally Innovatively utilises grounded theory to describe the behavior of individuals in the banking sector Incorporates a wealth of empirical data drawn from interviews

Auteur
Dr. Bello holds a PhD in Anti-Money Laundering Compliance, is a Chartered Certified Accountant (ACCA), a Certified Anti-Money Laundering Specialist (CAMS) and a Certified Fraud Examiner (CFE) with more than 17 years working experience. He was the Deputy Head of Department, Monitoring and Analysis at the Nigeria Financial Intelligence Unit and the Head of Forensic Accounting and Financial Investigation at the EFCC. He was also a lecturer at Newcastle Business School, UK and a former banker with the then Afribank Plc and Stanbic Bank.

Contenu

1. Introduction.- 2. Background of the AML Environment.- 3. Self-Protecting Theory: A Theory of MLROs.- Chapter 4. The Effectiveness and Efficiency Dilemma.- Chapter 5. The Potential Solution to the Dilemma.- Chapter 6. General Application of the Self-Protecting Theory.- Chapter 7. Conclusion.