Bank Insure That the Level Literature Review

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In 2003, new procedures were created and they state that "companies accredited with receiving money relating to public subscription in securities must take all necessary measures to ensure the legality of the sources of the money used in the payment of such securities, in compliance with the provisions laid down in the Prevention and Prohibition of Money Laundering and its Implementing Regulations" (Terterov and Reuvid, 2005).

Banking institutions are also focused on reducing money laundering and the principal actions they implement in this endeavor are those of fully complying with the regulations imposed by the central banks and the legislations in their home countries.

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More recently, the banks can access technological innovations to fight money laundering, such as LexisNexis's Bridger Insight XGTM (Tech 4 Law). But since the access to technologies is different at each bank, a conclusion is drawn that the internal reactions to money laundering are different. The editors at the Asian Banker Research and Temenos argue that the actions of banks in limiting money laundering depend on the individual managerial approaches, on the IT solutions at hand, on the relationship with the customer as well as on the internal culture in the bank......

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