Master - Money Laundering

Ali Radi Zarif

Student thesis: Master thesis

Abstract

Money laundering is a well-known phenomenon worldwide, and is seen as a criminal act all around the world. Money laundering is a method which criminals use to legalize money. An example of money laundering is making transactions through a bank so no one can track where the money originally comes from. Furthermore, anti-money laundering initiatives are something most of us are acknowledged with. Every time we try to withdraw or insert a large amount of money into the bank; you find procedures the bank needs to follow for better control. This thesis is based on the study of the Danish anti-money laundering laws and the focus is to discuss whether or not the current laws and procedures are the best solutions for auditors, and if there are any ways to improve them. The outside world sees the auditor differently from what the auditor is covered by the law. This conclusion is based on a legal approach to this task, based on the analysis of ISA 240, ISA 250 audit standards and the Money Laundering Act. The studies that this conclusion is based on are the legislation and the interviews of auditors who are experts in money laundering. The thesis ends with a discussion about whether or not the auditors have changed something in their daily approach to money laundering issues, especially big scandals, such as the Danske Bank scandal.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2019
Number of pages132