Challenges facing commercial banks in combating money laundering: a case of Commercial Bank (NMB) –Dar es Salaam.

dc.contributor.authorGerini, Sigisbert
dc.date.accessioned2020-03-13T12:50:03Z
dc.date.available2020-03-13T12:50:03Z
dc.date.issued2011
dc.descriptionAvailable in print form, East Africana Collection, Dr. Wilbert Chagula Library, Class mark (THS EAF HG3397.S53)en_US
dc.description.abstractTanzanian banks need to operate in crime and money laundering free environment as ML can distort business decisions and increase the risk of bank failures. Therefore, if a bank is subjected to money laundering it will face the challenges of losing its reputation and consequently its business. The aim of the study was to assess the challenges facing commercial banks in combating Money Laundering the case study of NMB bank with some comparative studies from Financial Intelligence Unit. The study was conducted on a case study design; Required Data were collected using questionnaires, interviews guide, documentations and observation techniques' Analysis was performed using Statistical Package for Social Sciences (SPSS) and the output was based on descriptive statistics. The study revealed that ML is a challenge. The major challenges identified were detection of suspicious transactions, limited knowledge which comprised with education, awareness and training and poor banking systems in trapping of money launders. Additionally, change and emerging of more sophisticated money laundering techniques like increased technology of money transfer and failure of technical proof have also been classified as challenges. ML being a new concept to most of the people especially Tanzanians needs more intensive research which will include a much bigger coverage so that more generalized findings and better understanding can be obtained. Also the government is advised to establish in the higher learning institutions especially business institutions' syllabi a course on Money Laundering and related crimes as a strategy to mitigate these problems in the society.en_US
dc.identifier.citationGerini, S. (2011). Challenges facing commercial banks in combating money laundering: a case of Commercial Bank (NMB) –Dar es Salaam. Master dissertation, University of Dar es Salaam.en_US
dc.identifier.urihttp://41.86.178.5:8080/xmlui/handle/123456789/7775
dc.language.isoenen_US
dc.publisherUniversity of Dar es Salaamen_US
dc.subjectMoney launderingen_US
dc.subjectBanks and bankingen_US
dc.subjectCommercial banksen_US
dc.subjectNational Microfinance Banken_US
dc.subjectDar es Salaam regionen_US
dc.subjectTanzaniaen_US
dc.titleChallenges facing commercial banks in combating money laundering: a case of Commercial Bank (NMB) –Dar es Salaam.en_US
dc.typeThesisen_US

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