CCH White Paper Links Money Laundering, Mortgage Fraud

Posted by Orb Staff on September 12, 2008 No Comments
Categories : Residential Mortgage

CCH, part of Wolters Kluwer Law & Business, has published a white paper titled Money Laundering and Mortgage Fraud: The Growth of a Merging Industry, by CCH banking law analyst Katalina M. Bianco.

In the white paper, Bianco shows how money laundering is an integral part of many mortgage fraud schemes, and has been connected with such other illegal activities as drug trafficking, prostitution and terrorism, says CCH. Bianco notes that integrating a bank's anti-money-laundering programs under the Bank Secrecy Act with fraud detection can help combat the problem.

‘An integrated unit provides a central point of contact for both internal referrals and law enforcement, providing a more efficient means for both detection of money laundering and fraud, as well as investigation of any incidents that may arise,’ she says.

Source: CCH

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