The United Nation’s Vienna & Palermo resolutions, the UN’s convention against corruption, the UN’s Protocol against the illicit Manufacturing and Trafficking in Firearms and the recommendations of the Financial Action Task Force, form the foundation for the book. It explains the methods, mechanisms, techniques and instruments of money laundering by analyzing elaborately over a hundred and fifty case studies from across the globe. The economic consequences of money laundering, the size of the shadow economy, the link between organized crime and the financing of terrorism. A risk-based approach in managing operations is explained for the different sectors of the eco-system and for a national AML-CFT program. Globally accepted methodologies, best practices to prevent and detect money laundering are explained. The World Bank, IMF and Basel approaches to conduct a National Money Laundering & Financing of Terrorism risk assessment are used to explain the approach to measure the effectiveness of a national’s AML-CFT program. The national AML-CFT program is an essential component of a governance model. The benefits of implementing a National Integrity System that some countries have already adopted are explained. Expert Comments Mr. T.S. Krishnamurthy Former Chief Election Commissioner, Chief Commissioner of Income Tax-Mumbai Government of India. This book not only examines thoroughly the problem of money laundering and financing of terrorism in a comprehensive manner with interesting case studies but also provides governance measures to mitigate the evil. The author has rightly stressed the need for proper evidence gathering, domestic co-ordination of various agencies and international co-operation to deal with this global priority. His suggestions such as implementation of National Integrity System, strong political will including electoral integrity and more effective governance are indeed worth the attention of any democratic government in order to protect, preserve and promote democracy for posterity. Dr. S.Ramamurthy FCIS (UK), FCCA (UK) and PhD in Economics (USA) Fiscal Management expert, formerly with the IMF The book provides an insight into the different typologies of money laundering and financing of terrorism. It also throws light on relevant methodologies and tools to mitigate the adverse impact of money laundering. It explains a risk-based approach to mitigate the risks at the entity and national levels. It is very valuable book to those practitioners combating money laundering and countering the financing of terrorism world-wide. Available at all e_bookstores.
The latest newsletter is now available to download. Highlights include:
- Status update on the IOR Education Programme;
- News of a new Sound Practice Guidance paper “Embedding an Operational Risk Framework” and a refreshed KRI paper;
- IOR’s response to the Basel Committee’s consultation paper on SMA;
- Updates from the IOR Chapters;
- Systemic Operational Risk – a special feature article;
- Risk Books special discount offer for IOR members; and
- CIR magazine’s new Operational Risk awards.
Systemic Operational Risk: Theory, Case Studies and Regulation by Dr. Patrick McConnell Systemic operational risk means operational risks that are not related to one firm only but arise simultaneously across the financial system. Examples include LIBOR, PPI, mortgage mis-selling, and FX benchmark manipulation. It includes, but is not limited to, conduct risks. Large systemic operational risk events are starting to get significant attention from banks' boards of directors, forcing the top executives at these firms to find ways to provide assurance that internal controls will stop such events happening again. One of the main challenges operational risk managers face these days is to develop a risk control framework that would allow senior management to understand where the hot spots are and confirm that policies and procedures are in place and being followed by their employees worldwide. Author Dr Patrick McConnell, who has over thirty years of professional experience as a senior manager and consultant working with major international financial institutions, provides an understanding of what causes these risks and how they may be tackled at macro- and micro-prudential levels of regulation. More information about the book can be found via the link below: http://riskbooks.com/systemic-operational-risk-theory-case-studies-and-regulation?utm_source=IOR&utm_medium=IOR&utm_campaign=IOR IOR has negotiated a 25% discount for its members on this book and all other Risk Books titles until 31st July 2016. Please click the button below to download your discount code... [download id="316"]
People Risk Management – A Practical Approach to Managing the Human Factors That Could Harm Your BusinessPosted on August 10, 2015, in Publications
People Risk Management provides unique depth to a topic that has garnered intense interest in recent years. Based on the latest thinking in corporate governance, behavioural economics, human resources and operational risk, people risk can be defined as the risk that people do not follow the organization's procedures, practices and/or rules, thus deviating from expected behaviour in a way that could damage the business's performance and reputation. From fraud to bad business decisions, illegal activity to lax corporate governance, people risk - often called conduct risk - presents a growing challenge in today's complex, dispersed business organizations. Framed by corporate events and challenges and including case studies from the LIBOR rate scandal, the BP oil spill, Lehman Brothers, Royal Bank of Scotland and Enron, People Risk Management provides best-practice guidance to managing risks associated with the behaviour of both employees and those outside a company. It offers practical tools, real-world examples, solutions and insights into how to implement an effective people risk management framework within an organization.
Review by Simon Ashby, Associate Professor at Plymouth University, and Chairman, Institute of Operational RiskIt has long been appreciated that effective human resource management systems are an essential part of organisational success, however it is much less well understood that people can still bring down even the most successful organisations. Scratch beneath the surface and even apparently well run organisations can be found to have significant people risk exposures - often because they lack the necessary knowledge and expertise to manage this complex and diverse area of risk. Blacker and McConnell, two of the leading lights in people risk management, have delivered a must-read text for all senior managers and board members in organisations - combining practical insights with strong academic foundations. The book is also an important addition to the book shelves of students and academics with an interest in the human aspects of risk management. IOR Members qualify for 25% discount on this book until the end of 2015. (more…)
A Banker’s Guide to create a Process Based Operating Model and an insight into methods that would reduce transaction costs, increase productivity and minimise operational risks. The author of this book is an IOR member. For more information please click here
Chapter 2 from this book entitled - The Advanced Measurement Approach - Finishing It, was written by a member of the IOR. For more information please click here
With acknowledgement from two Institute members To find out more information: click here
Including contribution from an Institute member For more information and to read inside click here