Types of banking supervision of money laundering methods  (A Comparative Study)

.Ibrahim Ismail Ibrahim, P.Dr; Ahmed Ali, Tiba

	Types of banking supervision of money laundering methods (A Comparative Study)
AL- Mouhakiq Al-Hilly Journal for legal and political science
Article 1, Volume 9, Issue 4, 2017, Pages 9-56
Authors
P.Dr .Ibrahim Ismail Ibrahim; Tiba Ahmed Ali
Abstract
The banks active role in social and economic life, Also banks have vital part in national prosperity because it represent a main center for credit and for funding commercial projects and public services for all members of society. The crime of money laundering is one of the most important and dangerous modern crimes which implies a lot of real and risky challenges because it has an obvious negative effects in the global and international economy and this effect has been shown to be different from one country to another according to the efficiency of the prophylactic measures which has been depended by a given country. And took the money laundering process of expansion and exploited banks to pass the money is legitimate, especially banks in countries where banking weaken monitoring of suspicious transactions. The Money laundering take many forms, some of them related to banks, like guarantee loans , Documentary letter of credit, banks accounts. Other forms are non-banks related, like using stock exchange markets and shell companies or through opening accounts and transferred money by electronic means to avoid detection by authorities . So Bank monitoring divided in two types: internal monitoring commence by bank boards of of administration or any entity have authorization by bank to do so External monitoring execute by other authorities like central bank and external accounts oversight .
Keywords
types; banking; supervision of money; laundering; methods

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