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Experts at hand – the United Nations Office on Drugs and Crime
All too often it is those jurisdictions that face the strongest threat from money laundering which are least equipped to deal with the problem. The UNODC has responded to this dilemma with practical, hands-on initiatives that are making a real difference on the ground.
Alan Osborn
reports.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Capacity building in Kosovo
Kosovo differs from all other countries surveyed so far in the pages of this journal in that it has no defined and internationally recognised final shape – either in respect of its borders or in the composition of its government. As the territory prepares for independence,
Alan Osborn
considers the state of its money laundering controls.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Border crossing - Interpol
It is a maxim of financial crime that while offenders operate freely cross-border, law enforcement’s writ usually only extends to the limits of national jurisdiction. Interpol, the International Criminal Police Organisation, was set up to address this handicap.
Alan Osborn
explores the role it plays in pursuing launderers.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Talking risk in Berlin
Timon Molloy, Editor. We would like to thank Charles Intriago and Money Laundering Alert (www.moneylaundering.com) for their kind permission to attend this event.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
New beginnings – Montenegro
Like other countries in the Balkans, Montenegro is anxious to shake off a reputation for financial corruption and political instability and, says
Alan Osborn,
appears to be doing so with rather more success than some of its neighbours.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Internet casinos: holding the line online
Casino gaming is mushrooming and with it the risk of the casino becoming a significant laundering vehicle, writes
Nick Kochan
. Driving this growth are two factors, both of which contain inherent concerns for the anti-money laundering (AML) community.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Work in progress
The risk-based approach (RBA) officially launched in the UK at the end of August when the revised Joint Money Laundering Steering Group (JMLSG) Guidance and the Financial Services Authority (FSA) Handbook amendments – removal of the ML sourcebook and the new requirement to appoint a senior manager with responsibility for anti-money laundering (AML) – took effect. Three months into the new regime,
Debbie Ward
and
Gavin Coles
of Ernst & Young spoke to Timon Molloy about how firms are adapting.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Index-linked corruption
In modelling jurisdiction risk, one of the most popular resources is the Transparency International Corruption Perceptions Index (CPI).
Sue Grossey
assesses the importance of corruption for AML professionals and reviews the recently published CPI rankings.
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Added value: London law enforcement on SARs
Everyday an officer will read the Moneyweb electronically filed suspicious activity reports (SARs) received by the City of London Police, Detective Inspector David Manley, Head of its Money Laundering Investigation Unit, told delegates to the Second..
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Two cheers for the Chancellor
I hold no political brief for the Chancellor of the Exchequer or the British Government, writes
Martin Owen.
But Gordon Brown’s Chatham House speech of 10 October on ‘Meeting the terrorist challenge’ is an eloquent justification of the use of financial intelligence, which is what ant-money laundering (AML) and countering the financing of terrorism (CFT) are all about. It should be required reading for all AML/CFT stakeholders [1].
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
FATF reports on risk of new payments methods and corporate vehicles
Too late for detailed analysis in the current issue the Financial Action Task Force has published two instructive reports, one on new payment methods and another on misuse of corporate vehicles, which also looks at the activities of trust and..
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006
Lack of confidence
by Jonathan Fisher QC
Online Published Date:
01 December 2006
Appeared in issue:
139 - 01 December 2006