| NCJ Number: |
182525  |
| |
|
| Title: |
Guide to the Prevention of Money Laundering |
| |
|
| Date Published: |
1998 |
| |
|
| Annotation: |
This guide is designed to explain money laundering legislation to
those unfamiliar with it; although intended primarily for banks,
the guide is also applicable to other financial institutions.
|
| |
|
| Abstract: |
The guide advises that money laundering statutes have broad
scope, such that banks and financial institutions have the duty
to "know their clients" and to avoid transactions that may assist
clients in disguising and concealing the sources of their money.
Section 1 of the guide provides an overview of money laundering,
its definition, risks, and techniques. Money laundering is
defined as "making funds used in, or resulting from, criminal
activity appear to be legitimate." The three stages of money
laundering techniques are described: placement (moving cash into
the financial system); layering (constructing financial
transactions to make the audit trail difficult to follow); and
integration (giving the laundered funds the appearance of
legitimacy by making them difficult to distinguish from
legitimate wealth. Section 2 sets out a framework for
self-protection, based on best practice procedures, knowledge of
business clients and counterparties, and self-analysis using the
Compliance Chain Analysis methodology. Section 3 contains case
studies that illustrate the issues and procedures raised in the
text. Appended supplementary materials
|
| |
|
| Main Term(s): |
Criminology |
| |
|
| Index Term(s): |
Financial institutions; Money laundering; Organized crime; Organized crime investigation |
| |
|
| Publication Number: |
ISBN 92842 1243X |
| |
|
| Sponsoring Agency: |
ICC Publishing, Inc.
New York, NY 10010
International Chamber of Commerce (ICC) Publishing SA
75008 Paris, France |
| |
|
| Corporate Author: |
International Chamber of Commerce (ICC) Publishing SA
France |
| |
|
| Sale Source: |
ICC Publishing, Inc.
156 Fifth Ave. Suite 308
New York, NY 10010
United States of America |
| |
|
| Page Count: |
80 |
| |
|
| Format: |
Book (Softbound) |
| |
|
| Type: |
Legislation/Policy Analysis |
| |
|
| Language: |
English |
| |
|
| Country: |
United States of America |
| |
|
|
|
| |
|
|
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=182525 |
| |
|
