A high degree of Anti-Money Laundering Work

A high degree of Anti-Money Laundering Work

In my daily work, I am often asked a variety of questions about anti-money laundering, including how to define anti-money laundering in financial services, anti-money laundering system development, and anti-money laundering standards, there are problems related to anti-money laundering policies and regulations, how to supervise financial institutions on anti-money laundering, and the future development of anti-money laundering. Among these questions, I found a common phenomenon. The question-makers only look at the anti-money laundering issue from the perspective of their own departments, the problems raised are often the actual problems that cannot be solved by themselves in anti-money laundering. In their opinion, it is normal to ask for "Fruit", not for "reason. Therefore, many people often encounter such and such problems after this question is raised.

Many of these problems are reflected by financial organizations engaged in anti-money laundering, and are also raised by comrades engaged in anti-money laundering system development.

The grassroots comrades of financial institutions reflect the following problems:

1)How to determine whether anti-money laundering is required in its business

For example:

(1)XxDoes the business need anti-money laundering?

(2)YYThe business is throughXxDo post-business operations require anti-money laundering?

(3)Is Anti-money Laundering data collected by account line or transaction line?

(4)WhyXxBusinesses do not need to be manually entered,ZzBusinesses require manual input?

(5)Can I reduce or cancel the manual input workload if it is too heavy?

2)How to organize anti-money laundering

For example:

(1)How to Set Up Anti-money Laundering posts?

(2)What are the responsibilities of each position?

(3)How to Set Up Anti-money Laundering Procedures?

(4)How to meet temporary checks by regulatory authorities

(5)How to avoid false or false reports, what are the requirements for system development, and what are the requirements for the implementation of the organization.

3)How to face the lack of information

For example:

(1)What should I do if the main customer information is not provided in the business system?

(2)What if necessary information cannot be obtained in the collection system?

(3)How to handle the default information?

4)How to deal with special problems

For example:

(1)What should I do if the outlet does not have a bank number?

(2)What should I do if the account line is at the outlet but the transaction collection can only be reflected in the provincial branch? Who is responsible for the makeup and report of these transactions?

(3)What is the impact of withdrawal of outlets on anti-money laundering? What should I do?

(4)On holidays, how does one handle anti-money laundering and report?

(5)How to deal with supplementary anti-money laundering transactions?

Anti-money laundering system developers often report the following problems:

1)XxxxWhat does report standards mean?

2)XxWhat is the meaning of the business?

3)What is the actual anti-money laundering process of financial institutions?

4)How can we parameterize large and suspicious transactions? Can these parameterization parameters cover the current and future submission requirements?

5)Why are there some problems in the submission standards? How can we avoid these problems?

6)Do I need to modify the report transaction for modifying the original transaction? Or vice versa.

7)The solution is implemented one by one according to the submission standards, but some solutions are not satisfactory. Why?

8)Massive Data andAlgorithmWhat is the relationship between them?

9)How can we confirm that the Anti-Money Laundering algorithm is correct?

10)What if incomplete data in the existing business system results in incomplete report data items?

11)How to determine the batch processing time? What if there is no transaction date?

12)Is the selection of foreign currency card prices in manual transactions the same as that in anti-money laundering transactions?

13)Does it mean that the anti-money laundering system is complete as long as the Anti-Money Laundering message is generated?

I wrote the above questions at will. In fact, there are more and more specific questions. But I felt that the questions they raised were often case-based? I have no deep understanding of the essence of anti-money laundering. If a financial institution is responsible for anti-money laundering or anti-money laundering system construction, it is hard to imagine what outstanding results they will achieve in anti-money laundering.

I have been engaged in anti-money laundering for a long time. I feel that there are two important aspects: Anti-Money Laundering and Financial. The anti-money laundering business summarizes the regularity of money laundering activities and the inherent regularity of money laundering. The financial business is the process and result of financial institutions engaged in providing financial products or financial services to customers. These two aspects must be understood and mastered by Anti-money Laundering practitioners. The depth of understanding and understanding is an important scale of their ability or level of anti-money laundering work.No matter who you are, you must study and master the anti-money laundering and financial businesses and combine them. Only in this way can we review anti-money laundering in a higher position to judge the advantages and disadvantages of anti-money laundering. In this way, China's anti-money laundering work can be promoted in a more in-depth direction.

In general, financial institutions who specialize in Anti-Money Laundering do not have much knowledge about the anti-money laundering business, but have little knowledge about the financial business. First-line employees of financial institutions have more understanding and understanding of financial services, but have less understanding of anti-money laundering services. Comrades engaged in anti-money laundering development know little about anti-money laundering and financial services, and have stronger system development capabilities. The first, high, and low capabilities are doomed to a long way to go in anti-money laundering.

To master these two aspects of business, we need to learn what anti-money laundering is? Why do we need anti-money laundering? What are the objectives and objectives of anti-money laundering? What are the methods and methods of money laundering? What are the features? What is the essence of large transaction and suspicious transaction? How do financial institutions defend against money laundering? What are anti-money laundering submission standards? What is its internal idea?

What is financial business? What is a customer? What is customer transaction? What is the classification of financial products and products? What are the financial services and classification methods? What is the actual financial business operation process? What is anti-money laundering for financial institutions? How is the financial business associated with the anti-money laundering business? Why? How can financial institutions avoid false or false reports?

After we understand and grasp the above seemingly macro problems, we can learn and grasp the details on the basis of them, so that our knowledge accumulation in these two aspects reaches a high level, so that our anti-money laundering work will be much easier and more profitable.

Of course, the Anti-Money Laundering work has different roles and responsibilities. The Anti-Money Laundering work has different perspectives, but one thing is certain,If we can stand up a little higher, our vision will be more open, we can find ourselves and others in a wider range of work deficiencies, so as to clarify the direction of improvement in our work, in this way, the level of anti-money laundering work is continuously improved.Of course, this is highly dependent on the knowledge of anti-money laundering and financial services. Therefore, studying and mastering anti-money laundering and financial services is one of the top priorities of anti-money laundering workers.

Next article: Pay attention to or cope with it! A problem facing financial institutions in anti-money laundering

2008-7-7