Thursday, 8 November 2012

Anti Money Laundering..

Assalamualaikum Readers..

Good afternoon........

Basically today i don't know what to share..but still i insist to write something..

Yesterday my friend who worked at Citibank asked me to go for walk in interview for the post of money laundering analyst..seriously i don't know what it is..then she explained to me what it is all about...

She keeps persuading me to attend the interview..but I didn't feel like going..yet i still read about anti money laundering..let me share it here..

first..let's go to the definition of money laundering..

Money laundering is the process of converting illegal proceeds so that fund are made to appear simple definition converting the illegal money to make it  legitimate ..wikipedia says..the process of concealing the sources of the money...the sources of money may be from drug trafficking, bribery, fraud and so on..

There are 3 stages in money laundering

They are:

1) Placement:the initial stage when the money launderer introduces his/her illegal proceeds into the financial system.Cash is converted into the money instrument..or smurfing (breaking the cash deposit into small amount)

2) Layering: creating complex layers of transaction to disguise source and ownership of funds..the money is transfer from one account to another account.

3) Integration: placing the laundered proceeds back into the economy to create perception of legitimacy.Normally at this stage, it is hard to detect whether the money is illegal or legal..The launderer might choose to invest the funds in real estate, luxury business (sport, cars, ship)..

Anti-money laundering is the term normally used in financial and legal industries to describe the legal control that require financial institutions and other regulated entities to prevent, detect and report money laundering activities...

Erm...after a simple research..i confirmed that i will not be going for the interview...I dont know why but...i read a lots of bad comments about this job. some said they have to sit in front of pc all day long, revising the case, for those who are introvert may this job is suitable for them..the office is quite, everyone is doing their own analysis..some says, not many people can stay there for a long period of time..and so many other negatives comments..

I can't say that i am extrovert people, yet i prefer to work in the industry where i can meet people..So i really hope that my dream will come true..i will achieve my target and ambition in life.

But actually whatever the job is, it depends on us..maybe i am not in the mood where i want to attend the interview today..Simple preparation kind of didn't suit me..But still in some interviews i prepared a lot, yet i didn't get the job. my rezeki is not there..


  1. anti money laundering is very must to stop money laundering. Money laundering is the source income of anti-social group so anti money laundering is must to stop it

  2. tq Mr Tom Martin for your info and sharing ;-)