Money Laundering Compliance, 3rd edition provides a technical and practical overview of both the UK and international provisions designed to prevent the laundering of the proceeds of serious crime, and the financing of terrorism.

Money laundering has continued to grow over recent years approaching £80 billion in the UK alone, and USD 3 trillion per year globally. Money Laundering Compliance, 3rd edition provides a technical and practical overview of both the UK and the international provisions designed to prevent the laundering of the proceeds of serious crime, and the financing of terrorism. Restructured and completely revised in line with legislation and case law the third edition includes coverage of the issue of beneficial ownership; Counter Terrorism Act 2008; Crime and Courts Act 2013; UK Financial Services Act 2012; HMRC AML Factsheets; revised International Standards on AML, CFT and Proliferation; EU Fourth Money Laundering Directive; the evolution of suspicion and the requisite standard of proof; ever increasing complexities of money transfers.

Previous edition ISBN: 9781847660527

Contents
Chapter 1 Introduction: the core principles, and towards a 'cashless society'
Chapter 2 The UK AML-CFT framework – background
Chapter 3 The UK AML-CFT framework – the principal UK ML offences
Chapter 4 The UK AML-CFT framework – failure to disclose and tipping-off
Chapter 5 The UK AML-CFT framework – tracing, asset recovery and forfeiture
Chapter 6 The UK AML-CFT framework – the Money Laundering Regulations and JMLSG Guidance
Chapter 7 The UK AML-CFT framework – technical issues
Chapter 8 Fiscal offences, foreign tax enforcement, 'legacy' issues, FATCA and Amnesty programmes
Chapter 9 Tax transparency, TIEAs, OECD automatic exchange of tax information and the Common Reporting Standard
Chapter 10 EU initiatives and the Money Laundering Directives
Chapter 11 Customer due diligence, compliance and risk management
Chapter 12 STR reporting procedures and dealing with the client
Chapter 13 Legal professionals and practitioners – specific issues
Chapter 14 Trustees, executors and TSPs – specific issues
Chapter 15 CSPs: specific issues
Chapter 16 Banks (internal policies) and investment managers –specific issues
Chapter 17 AML in selected non-UK jurisdictions
Chapter 18 Bribery and corruption
Chapter 19 Concerns and conclusions
Appendices
Appendix 1 Statutes and EU Provisions
Appendix 2 FATF and Supranational reports
Appendix 3 Amnesty Programmes and Disclosure Facilities
Appendix 4 OECD Exchange of Information, Early Adopters and Other Committed Parties
Appendix 5 Customer Due Diligence
Appendix 6 Suspicious Transaction Reports ('STRS') and Reporting
Appendix 7 Lawyers, Law Reports and Cases
Appendix 8 Trustees and Money Laundering
Appendix 9 AML in selected non-UK
Appendix 10 AML-CFT Prosecutions & Fines
Appendix 11 Data Leaks, Penetrations and Thefts; Whistleblowing; the Financial Secrecy Index

“...an excellent source of materials and advice for practitioners who are operating in what can best be described as the 'era of compliance'...a welcome addition to the existing literature on money laundering and it contains a wealth of information that will prove essential to practitioners who operate in this area.The chapters are precise and well written...I would highly commend this book to both practitioners and students.” –  Dr Nicholas Ryder, Journal of International Banking Law and Regulation Vol.30, Issue 8

“...an excellent source of materials and advice for practitioners who are operating in what can best be described as the 'era of compliance'...a welcome addition to the existing literature on money laundering and it contains a wealth of information that will prove essential to practitioners who operate in this area.The chapters are precise and well written...I would highly commend this book to both practitioners and students.” –  Dr Nicholas Ryder, Journal of International Banking Law and Regulation Vol.30, Issue 8

“The book will be most useful for those directly or indirectly involved in the financial services industry. Impressively, the author dedicates chapters to the legal profession, trustees, executors and trust service
providers, corporate service providers, and bank and investment managers...a one-stop shop of information...an excellent foundation for understanding the issues around money laundering, and a must for professionals, practitioners and academics in the finance industry.
” –  Sharde Williams, STEP Journal July 2015

“...a 'must' for anyone who wishes to obtain a simplified overview of a complex field as well as to busy lawyers and financial services practitioners...an important introductory text and an invaluable source-book that enables one to master the subject-matter...” –  Dr Dayanath Jayasuriya, Commonwealth Lawyer Vol 25, No 1