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NCJ Number: 152113 Find in a Library
Title: Money Laundering: A Practical Guide to the New Legislation
Author(s): R Bosworth-Davies; G Saltmarsh
Date Published: 1994
Page Count: 316
Sponsoring Agency: Chapman & Hall
New York, NY 10119
Publication Number: ISBN 0-412-57530-2
Sale Source: Chapman & Hall
One Penn Plaza
41st Floor
New York, NY 10119
United States of America
Type: Survey
Language: English
Country: United Kingdom
Annotation: This volume aims to provide professionals with a comprehensive understanding of the implications of the new laws and regulations in the European Community (EC) and the United Kingdom (UK) related to money laundering.
Abstract: Directed to financial services professionals, bankers, attorneys, regulatory agencies, auditors, and investigators, it provides historical background and discusses the sources of dirty money, and discusses the risks faced by financial institutions, and case examples such as the Pizza Connection and the Brinks Mat gold laundering. Other chapters explain the recent changes in EC and UK legislation that have made it a formal legal requirement for financial institutions operating within the EC to report suspected money laundering transactions. They note that institutions that fail to do so and are unable to show that they have set up proper regulatory procedures will potentially be liable for criminal prosecution resulting in irreparable damage to reputation and loss of business. The text provides practical guidelines on how to set up effective compliance procedures and gives advice on detecting and reporting suspicious transactions. Index; 61 references; and appended text of legislation, Organized Crime Threat Assessment by the National Criminal Intelligence Service, restatement of the European Directive on Money Laundering, and copies of two British legal forms
Main Term(s): Criminology
Index Term(s): Criminal infiltration of business; European Economic Community; Financial institutions; Foreign laws; Money laundering; Regulations compliance; United Kingdom (UK)
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