Money Laundering Compliance

Money Laundering Compliance cover


What is Money Laundering ('ML')? How has the definition of ML expanded in recent years? Where does AML law and regulation come from? When must I report any 'suspicion'?

Money Laundering Compliance
is designed as a detailed reference source both on legal and technical details, as well as practical and procedural points. It provides a technical and practical overview of AML/CFT provisions in the UK and other key international jurisdictions including:

- Bahamas
- Bermuda
- Cayman Islands
- Guernsey
- Isle of Man
- Jersey
- Singapore
- Switzerland
- United States

The Fourth Edition has been completely revised in line with recent legislation and case law, with other key areas of change including:

- The impact of Brexit on the UK's position vis-a-vis EU Law, and in particular in relation to the EU Money Laundering Directives covering AML/CFT matters

- 'Economic Substance' requirements in key jurisdictions

- A new chapter on FinTech, the host of AML/CFT RegTech websites/Mobile Apps, and the introduction of new methods of CDD verification

- A new chapter on crypto assets and regulation

- Current sanctions against defined Russian Oligarchs

- The general prohibition against the provision of trust and company services to certain 'Russian-connected' trusts

This essential resource ensures that finance professionals, private bankers, lawyers, trust and estate practitioners, regulators, compliance officers and other advisers remain up to date with this increasingly complex and crucial area of law.

This title is included in Bloomsbury Professional's Banking and Finance online service.

Table of Contents

1. Introduction: FATF; The Core Principles, and Towards a 'Cashless Society'
2. The UK AML/CFT Framework – Background
3. The UK AML/CFT Framework - The Principal UK ML Offences
4. The UK AML/CFT Framework – Failure to Disclose and Tipping-Off
5. The UK AML/CFT Framework: Tracing, Asset Recovery; Forfeiture; UWO
6. The UK AML/CFT Framework – ML Regs 2017, JMLSG Guidance 2020, Company UBO Registers; Trust Registers/ Registration; Economic Crime (Transparency & Enforcement) Act 2022
7. The UK AML/CFT Framework – Technical Issues
8. Fiscal Offences, Foreign Tax Enforcement, FATCA; Whistleblowers and Data Leaks
9. EU Initiatives; AML Directives; UBO Registers; “the DACs”; the Impact of UK Brexit
10. Tax Transparency, Data Leaks, Theft and Penetration, TIEAs, OECD Automatic Exchange of Tax Information (“AEoI”); the Common Reporting Standard (“CRS”)
11. Customer Due Diligence (CDD): Compliance and the “Risk-Based Approach”; PEPs
12. AML/CFT RegTech: Databases; New Forms of CDD Verification (websites & Mobile Apps) e-Training and Qualifications
13. SAR (STR) Reporting Procedures; Post-SAR Dealings; DAML; Fines and Penalties
14. Sector Specific: Legal and Accountancy Professionals and Practitioners
15. Sector Specific (CSP Issues): Economic Substance; UBO Registers/FATF Rec 24; PSCs)
16: Sector Specific (Trustee, Executor and TSP Issues: Trust Registers/ FATF Rec 25)
17. Sector Specific: Banks, Family Offices, Investment Managers and Funds
18. Virtual/Crypto currencies/assets; VASPs; AML/CFT Aspects; Post-FTX Exchange Collapse
19. AML in Some Selected Non-UK Jurisdictions (Including their Company SC UBO Registers, Trust Registers, and Economic Substance Initiatives)
20. Bribery and Corruption; Russian/Oligarch Sanctions Lists (OFAC, EU, OFSI, etc)
21. Concerns, Predictions and Conclusions (and Further Reading)

Product details

Published 04 Aug 2023
Format Ebook (Epub & Mobi)
Edition 4th
Extent 696
ISBN 9781526525963
Imprint Bloomsbury Professional
Publisher Bloomsbury Publishing

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