Bookcover of Money Laundering Control and Banks Part 1
Booktitle:

Money Laundering Control and Banks Part 1

An Analyses of Key Challenges Facing Banks Operating in the European Union, England, Unites States and South Africa

LAP LAMBERT Academic Publishing (2012-04-05 )

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ISBN-13:

978-3-8484-2182-4

ISBN-10:
3848421828
EAN:
9783848421824
Book language:
English
Blurb/Shorttext:
Money laundering is not an innocuous crime. It leaves countless victims in its wake including banks. This book relates the story of banks, money laundering and the global anti-money laundering effort. It reveals various the dilemmas that banks are facing in light of current anti-money laundering measures, and emphasises the deficiencies of the bank-customer relationship in protecting banks against the fallouts of money laundering and money laundering control. Key issues such as the nature of so-called 'dirty money', the illusion of bank confidentiality and the deficiencies in the global anti-money laundering regime are underscored. The money laundering control efforts of the European Commission, England (as member state of the European Union), the United States and South Africa as developing nation are highlighted as well. This book fundamentally reveals that banks are the best line of defence in the war against money laundering and global crime. Regardless, unless the recommendations forwarded in this book are implemented, banks will not only continue to stand defenceless against potential civil litigation, but global money laundering control will remain a mere pipedream.
Publishing house:
LAP LAMBERT Academic Publishing
Website:
https://www.lap-publishing.com/
By (author) :
Izelde Louise van Jaarsveld
Number of pages:
640
Published on:
2012-04-05
Stock:
Available
Category:
Law, Occupation, Finances
Price:
79.00 €
Keywords:
Tracing, FATF, Constructive Trust, Patriot Act, Money laundering control, bank confidentiality, Financial Intelligence Centre Act, KYC Standard, customer due diligence, Proceeds of Crime Act, Basel Committee on Banking Regulations and Supervisory Practices, proceeds of crime, 2005 EC Directive, rei vindicatio, actio Pauliana, unjust enrichment condictiones, civil forfeiture, innocent owner defence

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