Anti-Money Laundering Compliance and the Legal Profession

Anti-Money Laundering Compliance and the Legal Profession

Author: Sarah Kebbell

Publisher: Routledge

Published: 2021-11-29

Total Pages: 214

ISBN-13: 0429670907

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Money laundering is a global issue and there is evidence that the services provided by the legal profession may be misused to launder the proceeds of crime. This book explores the experiences of professionals within Top 50 law firms when seeking to comply with the UK’s anti-money laundering (AML) regime. The book draws upon empirical evidence from 40 in-depth interviews with solicitors and compliance personnel from 20 Top 50 law firms. Access to this section of the legal profession is challenging in the context of academic research, and the research provides an account, seldom heard in academic literature, directly from practitioners. The book uses these research findings to explore and discuss the AML compliance issues faced by this section of the profession. It highlights the challenges presented by the legislative architecture of the Proceeds of Crime Act 2002, and considers compliance issues relating to customer due diligence, AML training, the client account and the suspicious activity reporting regime. It also considers participants’ perceptions of the regime, their role within it, and their own assessment of money laundering risk. It concludes by using this evidence to recommend amendments to current AML policy and legislation. This book will be of interest to students and researchers studying Financial Crime Law, Business and Company Law, and White Collar Crime, as well as policy makers in the areas of money laundering, compliance, and corruption.


Book Synopsis Anti-Money Laundering Compliance and the Legal Profession by : Sarah Kebbell

Download or read book Anti-Money Laundering Compliance and the Legal Profession written by Sarah Kebbell and published by Routledge. This book was released on 2021-11-29 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money laundering is a global issue and there is evidence that the services provided by the legal profession may be misused to launder the proceeds of crime. This book explores the experiences of professionals within Top 50 law firms when seeking to comply with the UK’s anti-money laundering (AML) regime. The book draws upon empirical evidence from 40 in-depth interviews with solicitors and compliance personnel from 20 Top 50 law firms. Access to this section of the legal profession is challenging in the context of academic research, and the research provides an account, seldom heard in academic literature, directly from practitioners. The book uses these research findings to explore and discuss the AML compliance issues faced by this section of the profession. It highlights the challenges presented by the legislative architecture of the Proceeds of Crime Act 2002, and considers compliance issues relating to customer due diligence, AML training, the client account and the suspicious activity reporting regime. It also considers participants’ perceptions of the regime, their role within it, and their own assessment of money laundering risk. It concludes by using this evidence to recommend amendments to current AML policy and legislation. This book will be of interest to students and researchers studying Financial Crime Law, Business and Company Law, and White Collar Crime, as well as policy makers in the areas of money laundering, compliance, and corruption.

Anti-Money Laundering Regulation and Compliance

Anti-Money Laundering Regulation and Compliance

Author: Alexander Dill

Publisher: Edward Elgar Publishing

Published: 2021-06-25

Total Pages: 288

ISBN-13: 1788974840

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Anti-Money Laundering Regulation and Compliance: Key Problems and Practice Areas is a comprehensive treatment of the Anti-Money Laundering/Combatting the Financing of Terrorism (AML/CFT) compliance programs, recordkeeping and reporting requirements, and the best practices under the Bank Secrecy Act (BSA) and sanctions regulatory regimes. AML/CFT and sanctions provisions are highly interrelated. Onboarding and customer due diligence requirements generate the data entered into transaction monitoring and screening systems.


Book Synopsis Anti-Money Laundering Regulation and Compliance by : Alexander Dill

Download or read book Anti-Money Laundering Regulation and Compliance written by Alexander Dill and published by Edward Elgar Publishing. This book was released on 2021-06-25 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-Money Laundering Regulation and Compliance: Key Problems and Practice Areas is a comprehensive treatment of the Anti-Money Laundering/Combatting the Financing of Terrorism (AML/CFT) compliance programs, recordkeeping and reporting requirements, and the best practices under the Bank Secrecy Act (BSA) and sanctions regulatory regimes. AML/CFT and sanctions provisions are highly interrelated. Onboarding and customer due diligence requirements generate the data entered into transaction monitoring and screening systems.

Anti-Money Laundering Toolkit

Anti-Money Laundering Toolkit

Author: Alison Matthews

Publisher:

Published: 2018-03

Total Pages: 144

ISBN-13: 9781784460785

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Book Synopsis Anti-Money Laundering Toolkit by : Alison Matthews

Download or read book Anti-Money Laundering Toolkit written by Alison Matthews and published by . This book was released on 2018-03 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Solicitors and Money Laundering

Solicitors and Money Laundering

Author: Peter Camp

Publisher: Law Society Publishing

Published: 2007-01-01

Total Pages: 300

ISBN-13: 9781853285936

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This fully revised and updated new edition takes into account important recent developments including; the Court of Appeal's decision in Bowman v Fels; changes made by the Serious Organised Crime and Police Act 2005; new money laundering guidance issued by the Law Society Ensure your practice is compliant, order your copies today.


Book Synopsis Solicitors and Money Laundering by : Peter Camp

Download or read book Solicitors and Money Laundering written by Peter Camp and published by Law Society Publishing. This book was released on 2007-01-01 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fully revised and updated new edition takes into account important recent developments including; the Court of Appeal's decision in Bowman v Fels; changes made by the Serious Organised Crime and Police Act 2005; new money laundering guidance issued by the Law Society Ensure your practice is compliant, order your copies today.

Anti-Money Laundering Compliance 2nd Ed

Anti-Money Laundering Compliance 2nd Ed

Author: Francesca Ramadan

Publisher: Ark Company

Published: 2019-01-31

Total Pages: 123

ISBN-13: 9781783583607

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The European Union Fourth Anti-Money Laundering Directive is the most sweeping AML legislation ever to have been introduced in Europe. It aims to strengthen the existing rules, prioritising the fight against tax avoidance, money laundering and terrorism financing by reinforcing the necessity of measures such as risk assessments, setting clear requirements about beneficial ownership, and expanding the definition of a politically exposed person.This second edition of Anti-money Laundering Compliance for Law Firms is intended as both handbook and guide, advising on practical implementation of the Directive's mandates and assisting European law firms in remaining compliant. It will also act as a best-practice toolkit for firms practising beyond Europe. Featuring contributions from a range of experts in the field - from barristers specialising in financial crime to compliance experts and consultants - this timely publication provides the latest intelligence on successful adherence to the Fourth Directive, along with an anticipatory exploration into the possible effects of the upcoming Fifth Directive and changes within the regulatory landscape.


Book Synopsis Anti-Money Laundering Compliance 2nd Ed by : Francesca Ramadan

Download or read book Anti-Money Laundering Compliance 2nd Ed written by Francesca Ramadan and published by Ark Company. This book was released on 2019-01-31 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union Fourth Anti-Money Laundering Directive is the most sweeping AML legislation ever to have been introduced in Europe. It aims to strengthen the existing rules, prioritising the fight against tax avoidance, money laundering and terrorism financing by reinforcing the necessity of measures such as risk assessments, setting clear requirements about beneficial ownership, and expanding the definition of a politically exposed person.This second edition of Anti-money Laundering Compliance for Law Firms is intended as both handbook and guide, advising on practical implementation of the Directive's mandates and assisting European law firms in remaining compliant. It will also act as a best-practice toolkit for firms practising beyond Europe. Featuring contributions from a range of experts in the field - from barristers specialising in financial crime to compliance experts and consultants - this timely publication provides the latest intelligence on successful adherence to the Fourth Directive, along with an anticipatory exploration into the possible effects of the upcoming Fifth Directive and changes within the regulatory landscape.

Lawyers and the Proceeds of Crime

Lawyers and the Proceeds of Crime

Author: Katie Benson

Publisher: Routledge

Published: 2020-04-03

Total Pages: 194

ISBN-13: 1351717235

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The role played by legal professionals in the laundering of criminal proceeds generated by others has become a priority concern for authorities at national and international levels. This ground-breaking book presents an in-depth empirical analysis of the nature of lawyers’ involvement in the facilitation of money laundering and its control through criminal justice and regulatory mechanisms. It is based on qualitative research combining analysis of cases of lawyers convicted of money laundering offences with interviews with criminal justice practitioners, members of professional and regulatory bodies and practising solicitors, and analysis of relevant national and international legislative and regulatory frameworks. The book demonstrates the complex and diverse nature of lawyers’ involvement in laundering activity, and shows that their actions and the decisions they take must be understood in relation to the specific situational contexts in which they occur. It provides significant new insights into the criminal justice and regulatory response to professional facilitation of money laundering in the UK, raising questions about the effectiveness and appropriateness of the response and the challenges involved. The book develops a framework for future research and analysis in this area, and proposes a range of potential strategies for controlling the facilitation of money laundering. Lawyers and the Proceeds of Crime is essential reading for those researching money laundering, white-collar crime or organised crime, and for practitioners and policy makers concerned with preventing the facilitation of money laundering.


Book Synopsis Lawyers and the Proceeds of Crime by : Katie Benson

Download or read book Lawyers and the Proceeds of Crime written by Katie Benson and published by Routledge. This book was released on 2020-04-03 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role played by legal professionals in the laundering of criminal proceeds generated by others has become a priority concern for authorities at national and international levels. This ground-breaking book presents an in-depth empirical analysis of the nature of lawyers’ involvement in the facilitation of money laundering and its control through criminal justice and regulatory mechanisms. It is based on qualitative research combining analysis of cases of lawyers convicted of money laundering offences with interviews with criminal justice practitioners, members of professional and regulatory bodies and practising solicitors, and analysis of relevant national and international legislative and regulatory frameworks. The book demonstrates the complex and diverse nature of lawyers’ involvement in laundering activity, and shows that their actions and the decisions they take must be understood in relation to the specific situational contexts in which they occur. It provides significant new insights into the criminal justice and regulatory response to professional facilitation of money laundering in the UK, raising questions about the effectiveness and appropriateness of the response and the challenges involved. The book develops a framework for future research and analysis in this area, and proposes a range of potential strategies for controlling the facilitation of money laundering. Lawyers and the Proceeds of Crime is essential reading for those researching money laundering, white-collar crime or organised crime, and for practitioners and policy makers concerned with preventing the facilitation of money laundering.

Methods of Money Laundering

Methods of Money Laundering

Author: Fabian Teichmann

Publisher: Kluwer Law International B.V.

Published: 2021-10-08

Total Pages: 253

ISBN-13: 9403537434

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How exactly is money laundered? The answer to this question is not well understood – and for this very reason, costly prevention measures remain ineffective. This much-needed book provides the first in-depth explanation of the methods used by intelligent criminals to amass wealth from large-scale trafficking in drugs, arms, and human beings, as well as from less odious crimes. The author shows clearly not only why existing approaches to combat money laundering are bound to fail but also how money launderers easily circumvent such measures. Based on qualitative interviews with both alleged criminals and prevention experts, detailed illustrations of concrete steps taken by intelligent and specialized perpetrators of money laundering allow practitioners to anticipate and effectively combat this type of crime. The author fully documents such aspects of money launderers’ behaviour as the following: resources required; dealing with detection risks; and international mobility. A central chapter covers in depth the various markets, institutions, and facilities that are particularly favourable to money laundering, and original insights accompany the presented findings with relevant quotations from the interviewees. The author offers tailored recommendations for different professional groups, including bankers, prosecutors, defence lawyers, and judges. In its critical questioning of the logic behind anti-money laundering regulations and their costly implementation, the book demonstrates that either the existing measures of prevention are drastically tightened and extended to almost all branches of the economy or the financial sector is relieved of the burden it bears and alternative ways of fighting this type of crime are sought instead. It will prove enormously valuable to understanding and investigating white-collar and financial crime, and be welcomed by practitioners and professionals in financial markets, banking, criminal lawyers, and compliance experts, as well as academia.


Book Synopsis Methods of Money Laundering by : Fabian Teichmann

Download or read book Methods of Money Laundering written by Fabian Teichmann and published by Kluwer Law International B.V.. This book was released on 2021-10-08 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: How exactly is money laundered? The answer to this question is not well understood – and for this very reason, costly prevention measures remain ineffective. This much-needed book provides the first in-depth explanation of the methods used by intelligent criminals to amass wealth from large-scale trafficking in drugs, arms, and human beings, as well as from less odious crimes. The author shows clearly not only why existing approaches to combat money laundering are bound to fail but also how money launderers easily circumvent such measures. Based on qualitative interviews with both alleged criminals and prevention experts, detailed illustrations of concrete steps taken by intelligent and specialized perpetrators of money laundering allow practitioners to anticipate and effectively combat this type of crime. The author fully documents such aspects of money launderers’ behaviour as the following: resources required; dealing with detection risks; and international mobility. A central chapter covers in depth the various markets, institutions, and facilities that are particularly favourable to money laundering, and original insights accompany the presented findings with relevant quotations from the interviewees. The author offers tailored recommendations for different professional groups, including bankers, prosecutors, defence lawyers, and judges. In its critical questioning of the logic behind anti-money laundering regulations and their costly implementation, the book demonstrates that either the existing measures of prevention are drastically tightened and extended to almost all branches of the economy or the financial sector is relieved of the burden it bears and alternative ways of fighting this type of crime are sought instead. It will prove enormously valuable to understanding and investigating white-collar and financial crime, and be welcomed by practitioners and professionals in financial markets, banking, criminal lawyers, and compliance experts, as well as academia.

Money Laundering Law and Regulation

Money Laundering Law and Regulation

Author: Robin Booth

Publisher: Oxford University Press

Published: 2011-03-03

Total Pages: 514

ISBN-13: 0199543038

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This title provides a practical, comprehensive guide to domestic anti-money laundering law and regulation, increasingly seen as key weapons in the fight against serious and organised crime.


Book Synopsis Money Laundering Law and Regulation by : Robin Booth

Download or read book Money Laundering Law and Regulation written by Robin Booth and published by Oxford University Press. This book was released on 2011-03-03 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides a practical, comprehensive guide to domestic anti-money laundering law and regulation, increasingly seen as key weapons in the fight against serious and organised crime.

Anti-money Laundering Deskbook

Anti-money Laundering Deskbook

Author: Nicole S. Healy

Publisher:

Published:

Total Pages:

ISBN-13: 9781402422652

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Book Synopsis Anti-money Laundering Deskbook by : Nicole S. Healy

Download or read book Anti-money Laundering Deskbook written by Nicole S. Healy and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Anti-Money Laundering

Anti-Money Laundering

Author: Wouter H. Muller

Publisher: John Wiley & Sons

Published: 2007-06-05

Total Pages: 852

ISBN-13: 0470033193

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Anti-Money Laundering is the definitive reference on money laundering and practice. First an outline will be given of the general approach taken by supra-national organisations like the United Nations and the European Council. Next the approach taken by international organisations and initiatives on the basis of the supra-national initiatives will be outlined by senior members of those organisations. A number of countries will then describe their specific prevention legislation. Countries involved will all be member-countries of the FATF (Financial Action Task Force on Money Laundering). Finally there will be an overview to enable the reader to make a comparison between the most important topics of money laundering legislation and rules in the different countries.


Book Synopsis Anti-Money Laundering by : Wouter H. Muller

Download or read book Anti-Money Laundering written by Wouter H. Muller and published by John Wiley & Sons. This book was released on 2007-06-05 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-Money Laundering is the definitive reference on money laundering and practice. First an outline will be given of the general approach taken by supra-national organisations like the United Nations and the European Council. Next the approach taken by international organisations and initiatives on the basis of the supra-national initiatives will be outlined by senior members of those organisations. A number of countries will then describe their specific prevention legislation. Countries involved will all be member-countries of the FATF (Financial Action Task Force on Money Laundering). Finally there will be an overview to enable the reader to make a comparison between the most important topics of money laundering legislation and rules in the different countries.