Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-76fb5796d-wq484 Total loading time: 0 Render date: 2024-04-27T21:43:53.615Z Has data issue: false hasContentIssue false

3 - Money Laundering and Counterterrrorism Financial Enforcement

Published online by Cambridge University Press:  05 November 2015

Bruce Zagaris
Bruce Zagaris
Affiliation:
Berliner, Corcoran and Rowe, Washington, DC
Get access

Summary

International Politics of Anti-Money-Laundering Regulations and Enforcement

One way to view the web of international agreements and arrangements governing anti-money-laundering (AML) regulations is to consider the international political overlay. This is best done by considering the international regulatory and enforcement agreements and arrangements on the universal and regional levels developed to construct AML regulatory and enforcement regimes.

A. Universal Organizations

Universal organizations refer to international organizations whose membership is universally based.

The United Nations

The United Nations pioneered international AML cooperation with the 1988 Vienna Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, which requires signatories to criminalize money laundering and immobilize the assets of persons involved in illegal narcotics trafficking. Because this convention was an initial effort and the participating governments were so diverse, there are differences in each country's criminalization of money laundering, extent of scienter required, enforcement methods, number of convictions, and range of punishments. Nevertheless, subsequent efforts have drawn from the Vienna Convention and wherever possible use the same terminology and systematic approach.

The 1999 International Convention for the Suppression of the Financing of Terrorism prohibits direct involvement or complicity in the international and unlawful provision or collection of funds, attempted or actual, with the intent or knowledge that any part of the funds may be used to carry out any of the offenses described in the convention, such as acts intended to cause death or serious bodily injury to any person not actively involved in armed conflict in order to intimidate a population, and any act intended to compel a government or international organization to take action or abstain from taking action. Offenses are deemed to be extraditable crimes, and signatories must establish their jurisdiction over the offenses, make them punishable by appropriate penalties, take alleged offenders into custody, prosecute or extradite violators, cooperate in preventive measures and countermeasures, and exchange information and evidence needed in related criminal proceedings.

Type
Chapter
Information
International White Collar Crime
Cases and Materials
 , pp. 62 - 104
Publisher: Cambridge University Press
Print publication year: 2015

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

Cassella, Stefan D., Asset Forfeiture Law in the United States (JurisNet, LLC, 2007).
Chatain, Pierre-Laurent, McDowell, John, Mousset, Cedric, Paul Allan Schott, & Emile Van Der Does de Willebois, Preventing Money Laundering and Terrorist Financing: A Practical guide for Bank Supervisors (World Bank, 2009).
Edgeworth, Dee R., Asset Forfeiture Practice and Procedure in State and Federal Courts (ABA Criminal Justice Section, 2d ed. 2008).
Gilmore, William C., Dirty Money: The Evolution of Money Laundering Counter-measures (Council of Europe Press, 1995).Google Scholar
Gurulé, Jimmy, Unfunding Terror: The Legal Response to the Funding of Global Terrorism (Edward Elgar 2008).CrossRefGoogle Scholar
IMF, Suppressing the Financing of Terrorism: A Handbook of Legislative Drafting (2003).
IMFWorld Bank Group, Financial Intelligence Units: An Overview (2004).
Robinson, Jeffrey, the laundrymen: Inside money laundering, the World's Third Largest Business (Arcade Publishing, 1996).
Powis, Robert E., the Money Launderers: Lessons from the Drug Wars – How Billions of Illegal Dollars are Washed through Banks and Business (Probus Publishing Co., 1992).
Reuter, Peter & Truman, Edwin M., Chasing Dirty Money: The Fight against Money Laundering (Institute for International Economics 2004).
Schott, Paul Allan, Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism III-3, III-4 (2002).
Stessens, Guy, Money Laundering: A New International Law Enforcement Model (Cambridge Univ. Press 2000).CrossRefGoogle Scholar
Walter, Ingo, The Secret Money Market: Inside the Dark World of Tax Evasion, Financial Fraud, Insider Trading, Money Laundering, and Capital Flight (Harper & Row, 1990).
Arce, B. S., Taken to the Cleaners: Panama's Financial Secrecy Laws Facilitate the Laundering of Evaded U.S. Taxes, 34 Brooklyn J. Of Int'l L., 465–90 (2009).Google Scholar
Blazejewski, K. S., The FATF and Its Institutional Partners: Improving the Effectiveness and Accountability of Transgovernmental Networks, 22 Temple Int'l & Compar. L.J.1–661 (2008).Google Scholar
Fisher, J., The Anti-Money Laundering Disclosure Regime and the Collection of Revenue in the United Kingdom, 3 Brit. Tax Review235–66 (2010).Google Scholar
Ganguli, I., Achtelik, O., Kohling, L., and Mauhs, F.M., The Third AML-Directive: Europe's Response to the Threat of Money Laundering and Terrorist Financing: Part I, 126 The Banking L.J.578–601 (2009).Google Scholar
Gordon, R. K., On the Use and Abuse of Standards for Law: Global Governance and Offshore Financial Centers, 88 N. Carolina L.R.501–94 (2010).Google Scholar
Healy, N. M.et al, U.S. and International Anti-Money Laundering Developments, 43 The Int'l Lawy. 795–809 (2009).Google Scholar
Krauland, Edward J. & Lagonico, Stephane, Lawyers and Anti-Money Laundering: The Gatekeeper Initiative, 31 Int'l. Law News (Fall 2002).Google Scholar
McSkimming, S., Trade-Based Money Laundering: Responding to an Emerging Threat, 15 Deakin L.R.37–63 (2010).Google Scholar
Shepherd, Kevin L., USA PATRIOT Act and the Gatekeeper Initiative: Surprising Implications for Transactional Lawyers, Section of Real Property, Probate, and Trust Law PROBATE & PROPERTY (Sept.–Oct. 2002).
Shepherd, K.L.O., Guardians at the Gate: The Gatekeeper Initiative and the Risk-Based Approach for Transactional Lawyers, 43 Real Property, Trust, and Estate L.J.607–71 (2009).Google Scholar
Zagaris, Bruce, Gatekeepers Initiative: Seeking Middle Ground between Client and Government, 18 Crim. Justice Mag. (Winter 2002).Google Scholar
Zagaris, Bruce, The Gatekeeper Initiative: An Emerging Challenge for International Financial Advisors, 2001 Worldwide Tax Daily 82–2, 22 Tax Notes Int'l2293–98 (May 7, 2001).Google Scholar
Zagaris, Bruce & Castilla, Sheila M., Constructing an International Financial Enforcement Regime: The Implementation of Anti-Money-Laundering Policy, 19 Brook. J. Int'l L.871 (1993).Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@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 saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved 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
×

Save book to Dropbox

To save 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 saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save 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 saving content to Google Drive.

Available formats
×