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NCJ Number: 134294 Find in a Library
Title: Pecunia non olet: Cleansing the Money-launderers From the Temple
Journal: Crime, Law and Social Change  Volume:16  Issue:3  Dated:(November 1991)  Pages:217-302
Author(s): M Levi
Date Published: 1991
Page Count: 10
Type: Legislation/Policy Analysis
Format: Article
Language: English
Country: Netherlands
Annotation: The development of relationships between police and banking institutions in the United Kingdom and other countries as part of law enforcement efforts directed at money laundering are analyzed. The discussion argues that national control over bank secrecy is giving way to an emerging situation of international cooperation and pressures on countries to reduce bank secrecy where crime is suspected.
Abstract: The United States is the main source of pressure for this trend and has focused on money laundering as part of its efforts in drug law enforcement. As a result, banks in Europe are being turned into agencies of the government by being required to keep detailed records and to inform the police when they suspect, or even where the government believes that they ought to suspect, that the funds involved are the proceeds of crime. Although some bankers, attorneys, police, and government officials interviewed expressed support for this trend due to their concerns about drug trafficking and terrorism, others question making private-sector institutions an arm of the government and believe that bankers' cooperation with the police should be voluntary except in cases of direct complicity in crimes. Notes and 39 references
Main Term(s): Money laundering; Private sector-government cooperation
Index Term(s): Bank Secrecy Act; Crime in foreign countries; International Law Enforcement Cooperation; Organized crime investigation; United Kingdom (UK)
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