Wednesday, August 1, 2012

Researchable Topics in AML-CFT

"Money Laundering" and "Terrorism Financing"  (ML/TF) are two buzz words of the new millennium.  The impact of both types of fraud on a nation economy could be detrimental.  Globally, various mechanisms have been set to mitigate ML/TF.  The Financial Action Task Force (FATF) is the leading agency entrusted to monitor this sort of fraud.  Through its Anti-Money Laundering and Anti Financing of Terrorism (AML/CFT) programs, FATF has proposed various "Recommendations".  The latest "40 New Recommendations" issued in February 2012 will form the basis of FATF upcoming Mutual Evaluation on AML/CFT regime.  For Malaysia, the following AML/CFT-related research topics would be forthcoming:
  • Study on AML-CFT Initiatives at Designated Non-Financial Businesses & Professions (DNFBPs)
  • Money Laundering through Tax Evasion: Development of Fraud Risk Indicators
  • Risk-Based AML-CFT Evaluation of Non-Profit Organizations
  • FATF Mutual Evaluation: Comparative Analysis of Country Assessments
  • Money Laundering: Analysis of Predicate Offences and their Applications
  • AML/CFT Implications on Politically Exposed Persons (PEPs)
  • Effectiveness of  System in Detecting Suspicious Transaction Report (STR)
  • DNFBP - Regulation, supervision & monitoring
  • AML-CFT Cost of Compliance
  • Suspicious Transaction Report for Terrorism Financing
  • Assessment of Ongoing Strategy to identify and mitigate AML/CFT risks within NPO sector
  • Cash Courriers: Evaluation of Current Tools to Mitigate ML/TF