Module 14 : Money Laundering Definition and Techniques, Adverse Effects and Countermeasures

Objectives What is money laundering and why is it a crime? Different ways in which money can be laundered Why banks are vulnerable to money laundering activities Basel Committee recommendations for bank accounts 14.1 Introduction Money laundering has rapidly emerged as a global problem, and several nations have introduced heightened countermeasures in a bid to stem the growing menace. The international community has witnessed the use of increasingly complex means to tr...

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