A Guide to AML/CTF

Kannan Subramanian’s book The Money Laundering and Financing of Terrorism Eco-System, provides a comprehensive review of money laundering (ML) and terrorist financing (TF) mechanisms, methods and techniques. The book features an introduction to anti-money laundering and counter-terrorist financing (AML/CTF), case studies and approaches to implementing an effective AML/CTF program. The book serves as a guide for those starting out in the AML/CTF world and/or for professionals seeking to read an overview of the AML/CTF ecosystem.

In his book, Subramanian provides a basic introduction to money laundering and its impact, and a global perspective to AML/CTF. Also, the author provides in-depth case studies based off of reports from Egmont, FinCEN and FINTRAC. Each case study provides insight on the method, mechanism and techniques/instruments used for ML/TF and they are each followed by material recommendations and guidelines to read in order to apply preventive controls.

Most notable is Subramanian’s variety of case study topics. For example, the book provides case studies on corruption, identity theft, corporate fraud, cybercrime and more, and they are applied to a different number of industries, which allows the reader to easily apply each case to a wide variety of industries. In addition, it allows readers to learn about different types of fraud that may warrant particular red flags.

Finally, the book discusses the methodologies and controls for implementing an effective AML/CTF risk-based program and offers recommendations in designing, building and maintaining it.

Reviewed by: Alexa Serrano, CAMS, editorial assistant, ACAMS, Miami, FL, USA, aserrano@acams.org

The Money Laundering and Financing of Terrorism Eco-System is available for purchase on Amazon.

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