Product Description

Anti–Money Laundering is the definitive reference on money laundering and practice. First an outline will be given of the general approach taken by supra–national organisations like the United Nations and the European Council. Next the approach taken by international organisations and initiatives on the basis of the supra–national initiatives will be outlined by senior members of those organisations. A number of countries will then describe their specific prevention legislation. Countries involved will all be member–countries of the FATF (Financial Action Task Force on Money Laundering). Finally there will be an overview to enable the reader to make a comparison between the most important topics of money laundering legislation and rules in the different countries.

Product Details

• Amazon Sales Rank: #283974 in Books
• Published on: 2007-04-20
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 834 pages

From the Inside Flap
"It is our professional duty to protect our clients and ourselves from possible involvement in Money Laundering. This standard work offers an indispensable overview of applicable rules in the relevant jurisdictions. It belongs on the desk of all Legal and Compliance people in our business." – Bas Schreuders, CEO Fortis Intertrust

"Brining Together the expertise of authors from key jurisdictions, this guide is an eminently readable account covering the full problematics of the use of the financial system for the perpetuation of criminal activity; an essential and practical tool in the battle aginst a threat to social integrity." – Dimitris Paraskevas, Managing Partner, Elias Paraskevas Attorneys 1933

"This is an estimable contribution to the world of anti–money laundering. Practitioners will thrive on the comparative treatment of this social, political and economic evil but there is also much for officials and members of the public in the book, It points us in the right direction with a clear and perceptive approach to what may other wise appear to be an obscure or arcane area." – Professor Kader Asmal, M.P., President, Financial Action Task Force, 2005–2006

From the Back Cover
Anti–money laundering has become increasingly important and complex for anyone involved in international financial services – from bankers, fiduciaries and trustees to lawyers, accountants, fund managers and many others. The USA Patriot Act and the FATF’s standards regarding anti–money–laundering (AML) and to combat the financing of terrorism (CFT) are just two significant measures which, together with other relevant legislation in individual countries, have created a complex, globally interconnected system of laws and regulations that international financial professionals must understand.

The complexity of AML/CFT regulations in different countries is so immense that there is an obvious need for a practical, concise handbook that gives clear information in this field for all those involved in relevant international business.

Anti–Money Laundering: International Law and Practice gives a concise overview of:

• how institutions like the UN Security Council, the EU or the Wolfsberg Forum develop ways to fight money laundering and terrorist financing, and
• how the Recommendations of the FATF and the Directives of the European Commission concerning AML/CFT are implemented in the legislation of their member countries
• includes detailed information from a wealth of specialists outlining the implementation of anti–money laundering  measures in a total of 41 countries and territories.

Accordingly, the handbook is a must for anyone whose activities are affected by AML/CFT regulations as well as the principal point of reference in this field from an international perspective.

About the Author
Wouter H. Muller, TEP, Senior Consultant at Henley & Partners in Zurich, is a lawyer and trust specialist with more than 35 years experience in international trust management and private banking. He obtained a doctorate in civil law at the Law School of the University of Groningen, worked as a solicitor in the Netherlands before joining Pierson, Heldring & Pierson in 1981. He was previously a managing director of the PHP trust company in the Netherlands Antilles, a director of the MeesPierson Bank and Trust company in Luxembourg, Zurich and Zug.

Christian H. Kälin, TEP, Partner at Henley & Partners in Zurich, is an international real–estate, tax and estate–planning specialist and licensed as a financial intermediary in Switzerland. He is the editor and one of the co–authors of the International Real Estate Handbook as well as the Switzerland Business & Investment Handbook. After completing Zurich Business School and his training at a Swiss private bank, he lived and studied in several countries before graduating from the University of Zurich with a cum laude Masters degree in law.

John G. Goldsworth, Editor of Trusts & Trustees, is a barrister based in London and Of Counsel to Henley & Partners in Jersey, Channel Islands. He holds an LLB (Hons) from the University of London and an LLM in International Business Law from the University of Exeter. He frequently acts as a chairman and lecturer at professional conferences and advises governments, institutions and companies on the proper use and development of international financial activities and on the development of legislation for inward and outward investment, including company law, trusts, tax law, financial law and the relevant regulatory framework.

Customer Reviews

Useful reference guide for anyone involved in the fight against money laundering or terrorist financing
At first sight, this book looks very daunting - very thick, small-type, few diagrams/ charts etc to break up the text. This should not discourage potential readers though as this is not a book that is designed to be read from cover to cover. Instead it is a reference book to have on your desk for specific sections to be dipped into when required and as such, it serves its purpose very well.

The book is split into three main sections: the first provides a brief but thorough overview of money laundering and terrorist financing, and the initiatives that have been taken to combat them. The second gives a summary of some of the key international players in the fight against money laundering and terrorist financing including the United Nations Security Council, the Financial Action Task Force, the European Union Commission, the Egmont Group, the Wolfsberg Group and FATF.

The third and by far the longest section gives an overview of the anti money laundering and counter terrorist financing measures adopted in over 40 jurisdictions worldwide including the US, the UK, Ireland, the Isle of Man, Jersey, Guernsey, Russia, Canada, Argentina, BVI, Cayman Islands, UAE, Singapore, Japan, Hong Kong, Australia, New Zealand and South Africa. These country-specific chapters do not all follow exactly the same format but broadly speaking, the information covered includes an overview of the key issues in that jurisdiction, legislation, regulatory requirements and contact details for the local anti money laundering agencies. As laws and rules change so frequently though, it would be best to check that the information provided remains up to date rather than relying on it blindly.

The various chapters are all written by experts on the particular aspect being covered and the editors have managed to gather together a most eminent group of contributors such as specialist lawyers and senior representatives of law enforcement agencies and industry associations (eg the EU Commission, FATF, the International Compliance Association and the Society of Trust and Estate Practitioners). Many contributors have also provided useful reading lists for further information.

All in all, a very useful reference guide for anyone involved in the fight against money laundering or terrorist financing.