December 2016
Intermediate to advanced
150 pages
2h 1m
English
Content preview from Money Laundering and Terrorist Financing Activities
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Money Laundering Detection Methods
Money laundering is a dynamic process. It involves a circulation of money or fund transfers in and out of a country to legalize the source of those funds. Some measures to decrease the circumvention of this form of illegal activity include:
• Deviations in trading volume and frequency,
• Unusual payments and receipts from an unusual trade partner, and
• Financial Fraud which is known as Benford’s Law, based on the numbers of times a specific digit occurs in a particular position in numbers to detect financial fraud (Yang and Wei, 2010).
Many applications and reporting regulations are published by anti- money laundering institutions for financial organizations or public to collaborate ...
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