Skip to main content Accessibility help
×
Home
Hostname: page-component-dc8c957cd-nh2gz Total loading time: 0.312 Render date: 2022-01-28T23:39:28.129Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "metricsAbstractViews": false, "figures": true, "newCiteModal": false, "newCitedByModal": true, "newEcommerce": true, "newUsageEvents": true }

Article 7 - Money Laundering

from Part II - Commentary

Published online by Cambridge University Press:  05 March 2015

Mark Pieth
Affiliation:
Universität Basel, Switzerland
Mark Pieth
Affiliation:
Universität Basel, Switzerland
Lucinda A. Low
Affiliation:
Steptoe and Johnson LLP
Nicola Bonucci
Affiliation:
OECD
Get access

Summary

Money Laundering

Each Party which has made bribery of its own public official a predicate offence for the purpose of the application of its money laundering legislation shall do so on the same terms for the bribery of a foreign public official, without regard to the place where the bribery occurred.

Official Commentaries

Article 7 – Money Laundering

In Article 7, ‘bribery of its own public official’ is intended broadly, so that bribery of a foreign public official is to be made a predicate offence for money laundering legislation on the same terms, when a Party has made either active or passive bribery of its own public official such an offence. When a Party has made only passive bribery of its own public officials a predicate offence for money laundering purposes, this article requires that the laundering of the bribe payment be subject to money laundering legislation.

Recommendation 2009

General

[THE COUNCIL] RECOMMENDS that each Member country take concrete and meaningful steps in conformity with its jurisdictional and other basic legal principles to examine or further examine the following areas:

iv) laws and regulations on banks and other financial institutions to ensure that adequate records would be kept and made available for inspection and investigation.

Type
Chapter
Information
The OECD Convention on Bribery
A Commentary
, pp. 422 - 446
Publisher: Cambridge University Press
Print publication year: 2013

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Aiolfi, G. and Pieth, M. (2002), ‘How to Make a Convention Work: The Organisation for Economic Co-operation and Development Recommendation and Convention on Bribery as an Example of a New Horizon in International Law’ in Fijnaut, C. and Huberts, L. (eds.), Corruption, Integrity and Law Enforcement, Leiden/Boston, 349Google Scholar
Bernasconi, P. (1995), New Criminal Law Provisions Against the Corruption of Public Officials, Multidisciplinary Group on Corruption (GMC), Council of Europe, 5
Black, J. (2001), ‘Decentring Regulation: Understanding the Role of Regulation and Self Regulation in a “Post-Regulatory” World’, 54 Current Legal Problems4CrossRefGoogle Scholar
Brütsch, C. and Lehmkuhl, D. (2005), Hard, Soft and Private Legalities: The Increase, Variation and Differentiation of Law-Like Arrangements in International Relations (unpublished manuscript)
Haufler, V. (2001), A Public Role for the Private Sector: Industry Self-Regulation in a Global Economy, WashingtonGoogle Scholar
Jenkins, R. (2001), Corporate Codes of Conduct, Self-Regulation in a Global Economy, UN Research Institute for Social Development, 21
Knill, C. and Lehmkuhl, D. (2002), ‘Private Actors and the State: Internationalization and Changing Patterns of Governance’, 15(1) Governance: An International Journal of Policy, Administration, and Institutions41CrossRefGoogle Scholar
Low, L. A., Tillen, G. and Abendschein, K. (2003), ‘Country Report: The US Anti-Money Laundering System’ in Pieth, M. and Aiolfi, G. (eds.), A Comparative Guide to Anti-Money Laundering: A Critical Analysis of Systems in Singapore, Switzerland, the UK and the USA (study by the Basel Institute on Governance, commissioned by the Stiftung Finanzplatz Schweiz), Cheltenham (UK)/Northhampton (US), 346Google Scholar
Moody-Stuart, G. (1997), Grand Corruption, 3rd edn, OxfordGoogle Scholar
Pieth, M. (1992), Bekämpfung der Geldwäscherei – Modellfall Schweiz?, Basel/Frankfurt a. M.Google Scholar
Pieth, M. (2007) [refd Pieth 2007b], ‘Multi-Stakeholder Initiatives to Combat Money Laundering and Bribery’ in Brütsch, C. and Lehmkuhl, D. (eds.), Law and Legalization in Transnational Relations, London/New York, 81Google Scholar
Pieth, M. (2010), ‘Bestechung ausländischer Amtsträger im Geschäftsverkehr: Eine kriminologische Studie’ in Bannenberg, B. and Jehle, J.-M. (eds.), Wirtschaftskriminalität, Mönchengladbach, 173Google Scholar
Pieth, M. and Aiolfi, G. (2003) [refd Pieth and Aiolfi 2003b], Anti-Money Laundering: Levelling the Playing Field (study by the Basel Institute on Governance, commissioned by the Stiftung Finanzplatz Schweiz), BaselGoogle Scholar
Pieth, M. and Aiolfi, G. (eds.) (2004), A Comparative Guide to Anti-Money Laundering: A Critical Analysis of Systems in Singapore, Switzerland, the UK and the USA (study by the Basel Institute on Governance, commissioned by the Stiftung Finanzplatz Schweiz), Cheltenham (UK)/Northhampton (US)CrossRefGoogle Scholar
Pieth, M. and Eigen, P. (eds.) (1999), Korruption im internationalen Geschäftsverkehr: Bestandesaufnahme, Bekämpfung, Prävention, Neuwied/Kriftel/Basel/Frankfurt a. M.Google Scholar
Sansonetti, R. (2001), ‘Die Problematik der Offshore-Finanzzentren und die Position der Schweiz’, 2 Die Volkswirtschaft – Das Magazin für Wirtschaftspolitik40Google Scholar
Savona, E. (2002), ‘Obstacles in Company Law to Anti-Money Laundering: International Cooperation in European Union Member States’ in Pieth, M. (ed.), Financing Terrorism, DordrechtGoogle Scholar
Trechsel, S. (1997), Geldwäscherei: Prävention und Massnahmen zur Bekämpfung, ZürichGoogle Scholar
Trepp, G. (1996), Swiss Connection, ZürichGoogle Scholar
Wymeersch, E. (2001), Study of the Regulation and its Implementation in the EU Member States that Obstruct Anti-Money Laundering International Co-operation, TrentoGoogle Scholar

Send book to Kindle

To send this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle.

Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Send book to Dropbox

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Dropbox.

Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

Available formats
×