Risk management cycle and strategy of Money laundring in the US Essay

Risk counselling cycle and strategy of Money laundring in the US - Essay ExampleThis research will pay back with the statement that the issue of capital clean has been the center of debate for quite a long time. Criminals and different terrorist groups have continued to use property-laundering schemes to hide their intermittent sources of money encountered by fraudulent means. According to the function of the Foreign Assets Control, the United States continues to lose large amounts of dollars by money laundering activities. The country is also cladding imminent risk of ever-lasting criminal and terrorist threats since the rate of money laundering activities is still high. As of today, economists in experience with financial analysts fear that the United States will brass instrument an unimaginable loss of foreign investors in the not too far future mainly because of money laundering risks. This is so because the presence of money laundering activities brings about signifi nookyt risks, which tarnishes the safety and soundness of a countrys financial industry Typically, money laundering is simply the process in which an individual or a group conceals the source where they obtain money via illicit means. The ways in which fraudsters can launder money be several and they can vary in accordance with their sophistication. Every year, the government of the United States quotes the amounts of money that the country loses through money laundering activities. Given that most of the money obtained through fraudulent means goes to fund criminal and terrorist operations, it is concur that the risks involved in money laundering expand to encompass the safety and security of the nation. As a result, the United States is likely to be sitting on a time bomb since anti-money laundering agents are moving at a slower pace, unlike fraudsters who are at the verge of compromising the face value of the United States financial sector. Recently, the International Monetary Funds report revealed that two to quintette percent of the worlds general economy is composed of laundered money. Nevertheless, the task force charged with the work of combating money laundering business, commonly referred to as the FATF, communicated that it is not easy to provide an estimate of money obtained through laundering.