As an accountant and/or financial management professional, what can you do to become better prepared to detect money-laundering?  Be specific. 

MSAF DISCUSSION 10

Read:

Abel, A. S., & Gerson, J. S. (2001). THE CPA’s Role in Fighting Money Laundering. All practitioners—not just auditors—need to understand how regulators expect them to help. Journal of Accountancy, 191(6), 26–31. http://ezproxy.umgc.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=heh&AN=4549265&site=eds-live&scope=site

Required:

1. Update all dollar figures in the article with current financial data. Be sure to cite your sources. Do not use Wikipedia or trade journals.  Instead, rely on government agencies, peer reviewed journal articles, or highly reputable professional organizations focused on reducing financial crimes.
2. To what extent have AML laws been effective at fighting terrorism? Be specific.
3. Some believe AML laws are unconstitutional violations of privacy and, an overly bureaucratic waste of time. Do you agree? Support your response with valid and reliable data and cite your source(s).
4. As an accountant and/or financial management professional, what can you do to become better prepared to detect money-laundering?  Be specific.