SMOKE-SCREEN INVESTIGATION

 MY FAVOURITE TOPIC IN INVESTEMENT BANKING:

I would consider say AML as my favorited topic when it comes to investment banking as the role involves implementing policies & procedures that detect & prevent the money laundering activities & combat terrorist financing i.e. preventing the financial institutions are not involved in the illegal financial transactions.



PRESENT NEWS ON THE TOPIC:

Madras high court on November 28th stayed the summons issued by the ED(enforcement directorate) on 17th November to the collectors of the Ariyalur, Karur, Thanjavur, Tiruchi & Vellore for the producing details regarding all the queries in their districts. The ECIR ( Enforcement case information Report) was based on the first 4 information reports (FIR) registered by the state police related to the mining cases.

The first FIR was related to the Mandal of the village Adam officer who attempted to prevent illegal sand mining in ORATHANADUR in Thoothukodi district.The 2 FIR was related to the seizure of 1.5 lakh of unaccounted money in mining department officials in Dindigal district.

The total crimes proceed to be 4730 or on the basis of a survey conducted which was estimated around 20 lakh units of sand mined illegally from 28 sites in the state in the last 2 years.



MY UNDERSTANDING ON THE ANTI-MONEY LAUNDERING:

Anti-money laundering is a very crucial process in the financial industry. AML aims to detect & prevent money laundering activities by verifying & understating the identity of the customers. Together, they form a comprehensive framework to ensure the financial institution operate securely & trust in the financial system.

OPINION ON THE AML IN NEXT 6 MONTHS - 1 YEAR:

Anti-Money Laundering depends on the various factors such as : 1.Regulatory changes 2.Technological advancements & 3.Evolving financial crime trends. Continued emphasis on strengthening AML measures, increased collaboration between financial institutions and regulatory bodies, and the integration of advanced technologies like artificial intelligence are likely to be key trends. Adaptability and staying updated with emerging risks will be crucial for the effectiveness of AML departments in the dynamic landscape of financial security.

JOHN CASSARA:

When it comes to the Anti-Money laundering A notable U.S Intelligence officer & Treasury special agent John Cassara comes into picture who has extensive experience in AML and has contributed significantly to the field through his work with various government agencies, including the U.S Department of the Treasury. His expertise involves investigating money laundering activities & providing insights into improving AML polices & practices.






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