Money Laundering Activities Research Articles

The hiding of wealth: an Argentinian perspective

Describes the recent increase in known money laundering activities in Argentina based on drug dealing, smuggling and false export transactions of precious metals etc, as a result of the country’s vulnerable borders. Outlines briefly the first Money Laundering Bill of 1996, and finally the Cover‐Up and Laundering of Criminal Assets Law of 2000, which penalises those who permit laundering activities because of negligence, as well as those engaging in them; it also set up the Financial Information Unit, and imposes the duty of reporting suspicious transactions, ie those that are unusual or unjustified. Continues with the rules against money laundering previously issued by the Argentine Central Bank and the National Securities Commission, and the investigative committee formed from the House of Deputies.

Drugs and money: laundering Latin America's cocaine dollars

What Is Money Laundering? Introduction and Explanation of Scope The Basic Money Laundering Arrangement The Andean Cocaine Business Foreign Exchange Black Markets A Recent History of Money Laundering Regulations, 1970-98 How to Launder Millions Early Cases La Mina, 1985-88 General Noriega and Panama, 1981-89 The Bank of Crooks and Criminals, Inc., 1988-90 The Santacruz-Londono Organization, 1988-90 (Jurado) Steven Saccoccia, 1988-91 Retail Money Laundries Raul Salinas, 1992-94 Operation Casablanca Economic Issues and Lessons Mexico's Black Market in Foreign Exchange and Its Relation to Narcotics Money Laundering--Measuring Money Laundering Activity The Colombian Connection How Should Banks Deal with the Problem? Conclusions and Government Policy Recommendations Appendix Bibliography Index

Good Compliance — A Singapore Banking Industry Perspective

The author was commissioned by the Association of Banks in Singapore (ADS) to redraft the ABS's Guidelines on Prevention of Money Laundering to replace its earlier guidelines after the revision of the money laundering laws under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (SCA) and the Mutual Assistance in Criminal Matters Act (MACMA). While asked to redraft the guidelines (ABS Guidelines) within the legal framework of the new anti‐money laundering regime, the task was also to redraft the ‘know your customer’ rules which would constitute the best practices in Singapore's banking industry for combating money laundering activities. The purpose of this paper is not ‘good compliance’ from the regulator's or a bank's perspective but from the banking industry's perspective in Singapore for the combating of money laundering.

Bank Secrecy

Bank secrecy and how it facilitates multiple opportunities for money laundering and various other criminal activities are matters in which governments must be interested. These matters have recently been the subject of a study carried out on behalf of the United Nations entitled Financial Havens, Banking Secrecy and Money Laundering. The study concluded that criminal organisations are making wide use of the opportunities offered by financial havens and offshore centres to launder criminal assets, thereby creating roadblocks to criminal investigations.

Money laundering and the Internet: A challenge for regulation

This paper examines the potential effects of the Internet and e‐commerce on money laundering activity. Money laundering is a continuing problem both for regulators who are seeking to maintain trust and confidence in the financial system and the investigating authorities who are charged with enforcing the law. There have been a number of developments in recent years both in the detailed regulations and the laws designed to prevent and deter money laundering. There has been an ongoing battle of ideas and innovation between money launderers and the regulators and investigating authorities. To date the authorities have been able to keep up with developments by developing and refining the regulations. With the emergence of the Internet and e‐commerce, however, new opportunities and techniques will be opened up to money launderers. This will present a whole new set of challenges and problems to the authorities. This paper considers these challenges and problems.

South Africa Passes a ‘Crime-busting’ Statute

The Prevention of Organised Crime Act, 1998, and its two amendment Acts passed in 1999 represent a major effort on the part of the South African authorities to combat the rapid growth in organized crime, money laundering and criminal gang activities both nationally and internationally. The Preamble to the 1998 Act provides a useful background. It states that because it is:“usually very difficult to prove the direct involvement of organised crime leaders in particular cases, because they do not perform the actual criminal activities themselves, it is necessary to criminalise the management of, and related conduct in connection with enterprises which are involved in a pattern of racketeering activity.”

Build it, and they will Come

This article concentrates on three Leeward Island nations in the Caribbean that lie between the Anegada Passage on the northwest and the Guadeloupe Passage on the southeast. The islands are St. Martin, which is divided into a French side and a Dutch side, and two formerly British ones—St. Kitts and Antigua. With regard to St. Martin, only the Dutch half, St. Maarten, shall be discussed. Each has been involved in the illicit drug industry, especially in money-laundering activities. This article will discuss a number of themes, including the interplay between casino culture and narcotics trafficking, as well as the economy of each island nation. By focusing on these three island nations, a template can be formed for understanding the contemporary criminal justice problems throughout the Caribbean region.

European money trails 1: Interactions between E.U. regulations and money laundering activities in Europe

European money trails 1: Interactions between E.U. regulations and money laundering activities in Europe

Drug trafficking and money laundering in the Caribbean ‘mini'‐states and dependent territories: The US response

Organized drug trafficking and sophisticated money laundering techniques pose a serious threat to the security and stability of states around the world, particularly small or weak states which lack the necessary technology, training, and resources to combat the drug trade. This article examines the nature and extent of drug trafficking and money laundering activities in the Caribbean mini‐states and British dependent territories, as well as the United States response to this growing regional problem. The international narcotics control regime can be strengthened through greater bilateral cooperation in anti‐narcotics matters between the United States and Caribbean mini‐states.

Bank's Operation Regarding Prevention of Money Laundering Activities

Bank's Operation Regarding Prevention of Money Laundering Activities