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How Banks Prevent Criminal Activity

Do you know how bank prevent criminal activity with the help of mind map. If no, then you must go through with this amazing blog by the linkFacts.<br>https://www.linkfacts.link/how-banks-prevent-criminal-activity

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How Banks Prevent Criminal Activity

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  1. HOW BANKS PREVENT CRIMINAL ACTIVITY - MIND MAP LinkFacts is an online mind map creating platform. We make complex problems much easier and helping students to generate new ideas.

  2. One serious issue within the banking industry is tackling money earned from criminal activities entering into the economy. The act of disguising the origin of “dirty money” is known as money laundering. 3 mind maps to laundering. explain anti-money

  3. ANTI-FRAUD TERMINOLOGY Learn the abbreviations, phrases, and main principles used in the banking sector related to anti-fraud. All of this confusing terminology is explained in the mind map “Glossary: Anti- fraud in the EU banking sector”. One important practice in the financial industry is Know Your Customer (KYC). This is a mandatory protocol that banks must take to verify the identity of their customers.

  4. THE LAWS IN PLACE Those working in banks need to know the laws that govern the processes against anti-money laundering. Take a look at the mind map “Anti-money laundering (AML) legal requirements” to see how the Fifth and Sixth Anti-Money Directives in the EU are cracking down on dirty money. Laundering

  5. SEEING IT IN ACTION A step-by-step process of how a bank starts with a customer, performs background check, allow them to create a new bank account, and monitors for suspicious transactions. All these steps are in favour with the law to identify customers and assess their risk factor of money laundering. The whole customer journey including safety checks is illustrated in the mind map “Workflow: Client onboarding KYC process”. See clearly how banks put anti-money laundering steps into practice.

  6. Create workflows and mind maps Financial businesses that need to comply with anti-monetary laws can benefit from using LinkFacts. Try this mind mapping tool for free in your organisation to simplify customer protocols and assist with staff training.

  7. GET IN TOUCH WITH US 28, Rue du Château, Münsbach, Luxembourg, Europe https://linkfacts.link/ contact@linkfacts.link

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