Problems Encountered in Money Laundering Investigations

The purpose of this study is to identify how the U.S. is responding to money laundering and what kind of problems arise while countering it, beginning with a detailed description of money laundering, its stages, typologies, impacts, and complications. Due to the broad nature of this subject only three main issues form the focal point of this study: problems concerning the banking industry and other financial organizations, problems resulting from the limitations of law enforcement agencies, and problems arising from the lack of cooperation between and within financial institutions and law enforcement agencies. Several probable solutions to the above problems are identified: Considering the financial industry, there are loopholes in the Bank Secrecy Act (BSA) and in other regulations that apply to the industry. Thus, there is a comparison of the Subjective Model vs. Objective Model in terms of reporting systems for financial organizations. On the law enforcement side, the priority is the need to update and upgrade their technology and investigation mechanisms in order not to fall behind the criminals. Finally, cooperation is something that can be achieved through mutual respect and understanding of the priorities of each side, which can be achieved by the creation of an upper agency of whose members represent both sides of the combat efforts.

Grantor dc:publisher

University of North Texas

Year dc:date

2001

Author dc:creator

• Akyay, Ilkay

Contributors dc:contributor

• Caeti, Tory J.
• Taylor, Robert W.
• Chilton, Bradley S.
• Hartman, David W.

• Money laundering investigation -- United States.
• money laundering
• banking industry
• reporting systems
• financial investigation
• money laundering problems

Statement dc:rights

• Public
• Copyright
• Akyay, Ilkay
• Copyright is held by the author, unless otherwise noted. All rights reserved.

Language dc:language

English

Identifier

oclc: 51164460
https://digital.library.unt.edu/ark:/67531/metadc2856/
ark: ark:/67531/metadc2856

OAI identifier oai:identifier

info:ark/67531/metadc2856