Money Laundering Compliance, 3rd edition provides a technical and practical overview of both the UK and international provisions designed to prevent the laundering of the proceeds of serious crime, and the financing of terrorism.
Money laundering has continued to grow over recent years approaching GBP80 billion in the UK alone, and USD 3 trillion per year globally. Money Laundering Compliance, 3rd edition provides a technical and practical overview of both the UK and the international provisions designed to prevent the laundering of the proceeds of serious crime, and the financing of terrorism. Restructured and completely revised in line with legislation and case law the third edition includes coverage of the issue of beneficial ownership; Counter Terrorism Act 2008; Crime and Courts Act 2013; UK Financial Services Act 2012; HMRC AML Factsheets; revised International Standards on AML, CFT and Proliferation; EU Fourth Money Laundering Directive; the evolution of suspicion and the requisite standard of proof; ever increasing complexities of money transfers.
Previous edition ISBN: 9781847660527
Tim Bennett is Chief Executive of the Belgrave Group and a solicitor and member of the Law Society of England and Wales, the Law Society of Hong Kong and the Bermuda Bar.
Contents Chapter 1 Introduction: the core principles, and towards a `cashless society' Chapter 2 The UK AML-CFT framework - background Chapter 3 The UK AML-CFT framework - the principal UK ML offences Chapter 4 The UK AML-CFT framework - failure to disclose and tipping-off Chapter 5 The UK AML-CFT framework - tracing, asset recovery and forfeiture Chapter 6 The UK AML-CFT framework - the Money Laundering Regulations and JMLSG Guidance Chapter 7 The UK AML-CFT framework - technical issues Chapter 8 Fiscal offences, foreign tax enforcement, `legacy' issues, FATCA and Amnesty programmes Chapter 9 Tax transparency, TIEAs, OECD automatic exchange of tax information and the Common Reporting Standard Chapter 10 EU initiatives and the Money Laundering Directives Chapter 11 Customer due diligence, compliance and risk management Chapter 12 STR reporting procedures and dealing with the client Chapter 13 Legal professionals and practitioners - specific issues Chapter 14 Trustees, executors and TSPs - specific issues Chapter 15 CSPs: specific issues Chapter 16 Banks (internal policies) and investment managers -specific issues Chapter 17 AML in selected non-UK jurisdictions Chapter 18 Bribery and corruption Chapter 19 Concerns and conclusions Appendices Appendix 1 Statutes and EU Provisions Appendix 2 FATF and Supranational reports Appendix 3 Amnesty Programmes and Disclosure Facilities Appendix 4 OECD Exchange of Information, Early Adopters and Other Committed Parties Appendix 5 Customer Due Diligence Appendix 6 Suspicious Transaction Reports (`STRS') and Reporting Appendix 7 Lawyers, Law Reports and Cases Appendix 8 Trustees and Money Laundering Appendix 9 AML in selected non-UK Appendix 10 AML-CFT Prosecutions & Fines Appendix 11 Data Leaks, Penetrations and Thefts; Whistleblowing; the Financial Secrecy Index