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Title Compliance Function Audit In Commercial Banks

Author

Listed:
  • Marian Sabin Constantin

    (University of Craiova Faculty of Economics and Business Administration)

Abstract

The goal of this paper is to investigate the mechanisms implemented by the banking system to combat money laundering and terrorism, on the background of the increase in the volume of financial transactions. Starting from the variety of mechanisms and forms of money laundering and from the increase interest of the states in combating related crimes, institutions specializing in combating this phenomenon were created at intergovernmental level. The banking system as a whole is interested in combating the phenomenon given the distortions that can be generated by a generalized context of fraud, corruption and money laundering, substantiated in damaging the credibility of the financial institutions with which it enters a business relationship, to the extent where it is impossible to determine the currency necessary based on the demand of the real economy. In this context, the investigation of the mechanisms implemented by banking institutions with the purpose of identifying and blocking suspicions transactions is of special interest.

Suggested Citation

  • Marian Sabin Constantin, 2016. "Title Compliance Function Audit In Commercial Banks," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(44), pages 19-28.
    • Handle: RePEc:aio:aucsse:v:1:y:2016:i:44:p:19-28
    as

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    File URL: http://feaa.ucv.ro/AUCSSE/0044v1-002.pdf
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    References listed on IDEAS

    as
    1. Marioara Avram, 2011. "Considerations On The Practical Application Of International Auditing Standards Regarding The Environment Of Control," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 3(39), pages 1-7.
    2. Costin Daniel AVRAM, 2010. "The social responsibility and the deontology of the banking profession under the conditions of the global financial crisis," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(11), pages 289-296, May.
    3. Alexandru AVRAM & Costin Daniel AVRAM & Veronel AVRAM, 2014. "Research and development expenditures between discretionary costs and source for economic growth," Romanian Journal of Economics, Institute of National Economy, vol. 39(2(48)), pages 49-66, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    critical; money laundering; banking system; internal audit; compliance risk management;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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