Product Description
What have been the consequences of recent regulatory initiatives on international financial centers in small countries? This study of three small Commonwealth countries—Barbados, Mauritius and Vanuatu—suggests that the costs of implementing these new standards have exceeded any identifiable benefits for the countries concerned.

The main factor explaining the adoption of the new standards, in all three countries, is the fear of being blacklisted by international organizations in the event of non-compliance, rather than any identified benefit in terms of increased competitiveness. The authors consider how policy on anti-money laundering should be developed in the future, taking into account the particular concerns of small developing countries.

The book will be of interest to all those engaged in setting international standards for financial regulation, and those regulating the finance industry in both large and small countries. ... Read more

Product Description
Every criminal act anywhere that involves obtaining money illegally produces funds which need to be laundered. The IMF estimates that 2-5% of global GDP ($590bn and $1.5 trillion) is laundered every year - $590bn is the equivalent of Spain's yearly output. Globally, regulations have come in which affect certain businesses, especially banks and other financial institutions. These businesses have been required to put in place specific arrangements to prevent and detect money laundering and the criminal activity that underlies it. As money launderers have resorted to more sophisticated ways of disguising the source of their funds, so employees have to be ever more aware of what they are dealing with, and how to deal with it. At present books on money laundering deterrence tend to focus on the detailed regulations and therefore do not provide much in the form of practical advice and guidance. The books also tend to look at money laundering regulation from a single perspective - say that of the UK.Legislation requires firms to provide all relevant employees with adequate training on that legislation, and to recognize and deal appropriately with transactions where money laundering is suspected. This book will look at a series of types of money laundering, explain how they are used and what controls, if any, could be used by an institution to protect itself. What should make a banker suspicious how would suspicion appear to a court or regulator, and what will the impact be on controls and reputational risk. ... Read more

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Like it or not, money launderers are major players in theworld's economy. Their strategies constrain national economic policiesand undermine financial institutions. With the advent of securetransfer technologies, and with the help of modern financial theoriesof derivatives and leverage, money laundering has become a significantstructural component in contemporary geopolitics. This penetrating and thorough analysis focuses on control: how theproblem is handled by legislation and regulatory and law enforcementagencies (particularly in the US and the EU), what the dauntingchallenges are that must be faced, what more can be attempted. In thecourse of developing in-depth consideration of the numerousintertwining issues that arise, the author uncovers a wealth ofprecise detail about what we know and what we can reasonably surmiseabout patterns of money laundering activity. Relevant matters coveredinclude:+the internal measuring and monitoringsystems used by financial institutions;+methodologies in use orin development to measure the extent of money laundering;+therole of money laundering in the "informal economy";+the globalrise of new criminal organisations;+conflicts of criminallegislation and civil law;+the relation of money laundering tocapital flight;+degrees of moral ambiguity and appropriatelytailored control strategies;+the role of offshore financialcentres (OFCs);+the use of derivatives in the money launderingprocess;+obstacles to the monitoring of wire transfer activityin real time; and+the "ethical indeterminacy" of white-collarcrime.As the first cross-disciplinary analysis of money laundering-fullyrecognizing the activity's economic, political, and juridicaldimensions-Criminal Finance clearly identifies a useful array ofappropriate criteria that may be used to develop and implementeffective control strategies. The book will be of immeasurable andimmediate value to bankers, legislators, regulators, law enforcementauthorities, and concerned lawyers and academics everywhere. ... Read more

Customer Reviews (1)

Comprehensive overview of criminal finance
Dr Hinterseer presents a comprehensive and thorough review of the world of global criminal finance, including the activities of organised crime syndicates, the developing world dictatorships, and the international terrorist networks. As a solicitor, he is able to assess the legislation and matrix of international treaties devised to deal with criminal finance and related financial crises, including the recent reaction to the terrorist events in the US and the New Basle Accord.

A highly recommended book for anyone involved or interested in these areas. ... Read more

Product Description
Vast amounts of money are said to be laundered throughfinancial intermediaries in the United Kingdom, thereby potentiallyaffecting the integrity of the financial markets. This unique workoffers a critical examination of the criminal anti-money launderingprovisions and their impact on financial intermediaries, which mayplay a facilitating role in the money laundering process. Itfurther considers the efficacy of the criminal law in reducing theincidence of money laundering when used in conjunction with civilliability and financial market regulation. The crucial issues relating to financial intermediaries concern theinteraction between procedural norms and equitable or criminalliability, the conflicts between disclosure and clientconfidentiality, the privilege against self-incrimination, and theprocedural aspects of imposing corporate criminal liability. Theauthor analyses these in detail and considers to what extent thepresent provisions may need modification, particularly in light of thedemands of procedural fairness laid down in the European Convention onHuman Rights. Finally, the book considers the impact of theinternational nature of money laundering on United Kingdom financialintermediaries, in terms of enforcement and the extra-territorialapplication of laws and disclosure orders. Money Laundering and Financial Intermediaries will be of greatinterest to academic and practising lawyers and anyone with aninterest in the regulation of financial markets and the fight againstfinancial crime. ... Read more

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This is an issue of our quarterly journal Hume Papers on Public Policy - the journal of the David Hume Institute. ... Read more

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Money laundering is one of the most potentially fraught areas for trustees, practitioners and their professional advisors. "A Practitioner's Guide to Money Laundering Compliance" crucially examines changes in the UK regime with a particular emphasis on the role, liabilities and obligations of trustees within it. Featuring an examination of the range of offences and the application of AML principles in a number of relevant jurisdictions, "A Practitioner's Guide to Money Laundering Compliance" discusses key practical issues such as Know your Client, reporting procedures, the conflict between tipping-off and disclosure, and advises practitioners who find themselves involved with trusts under investigation. ... Read more

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Anti-Money Laundering Provisions of the USA PATRIOT Act of 2001 covers rules under Section 313 and 319(b) of the Act. On October 26, 2001, President Bush signed the USA PATRIOT Act aimed at giving the government new powers in the war on terrorism.Title III of the new legislation, the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, imposes significant new anti-money laundering requirements on all financial institutions, including domestic banks and domestic operations of foreign banks, broker-dealers, futures commission merchants, and investment companies, and gives the U.S. Treasury Department the power to impose potential additional obligations on them as well.It also indirectly impacts foreign banks.This new title outlines the provisions of Title III and highlights provisions of particular interest to the various affected financial institutions.It also addresses the Interim Guidance on compliance with sections 313 and 319(b) of the USA PATRIOT Act. ... Read more

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Global Money Laundering Law Handbook ... Read more

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This book is the first of a number Quaestor2000 hopes to bring out addressing a need amongst practitioners, students and researchers for structured access to the body of European Communities/Union legislation on key topics. This material is, of course, accessible via the Official Journal of the European Union and the European Communities' online legislative database Eur-Lex. Even with full text search mechanisms, however, neither the Official Journal nor Eur-Lex addresses the need for a handy volume bringing all the texts together and facilitating access to the key provisions on money laundering by means of a professionally produced index. As the intention is to provide source materials, the editor has deliberately abstained from any form of commentary. The texts are up-to-date as of September 2008. ... Read more

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Volume 106 of Terrorism: Commentary on Security Documents ("Terrorist Financing and Money Laundering") guides readers through the complex legal terrain of terrorist financing and money-laundering.Researchers will benefit from the diversity of this volume's selection: from U.S. agency reportson how to implement the recommendations of the 9/11 Commission to the efforts of the European Parliament in seizing assets to two perspectives on how well Saudi Arabia is combating terrorist financing within its borders: the U.S. perspective and the perspective of Saudi Arabia itself.Equallyimportant for researchers is this volume's extensive treatment of U.N. measures on terrorist financing and money laundering.The volume concludes with the full text of the model rules for regulating terrorism-related financial transactions, as promulgated by a joint body of the U.N. and theInternational Monetary Fund. ... Read more

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In New York City's Chinatown, a restaurateur uses her informal banking business to launder the millions of dollars she earns from smuggling and exploiting illegal immigrants. In Colombia, the Chiquita banana company uses fraudulent bookkeeping to cover up its payoffs to a designated terrorist group and drug cartel responsible for the deaths of untold civilians. In Iran, authorities use state-owned banks and an array of front companies to further their nuclear and terrorist efforts. On the island of Macau, an obscure, family-owned bank circulates millions of dollars in counterfeit U.S. currency on behalf of North Korean diplomats engaged in drug and arms trafficking. In Indonesia, an al-Qaeda affiliate uses cash couriers to deliver thousands of dollars in undeclared money to operatives in Bali, who then conduct a suicide bombing that kills more than 200 people.

These are just a handful of the ways in which drug cartels, human smugglers, terrorists, rogue states, and even legitimate businesses have exploited weaknesses in the international financial system to further their goals. Such abuses continue to threaten both U.S. national security and the global economy, as tainted money flows through banks and across borders in unprecedented amounts. In this book, former Treasury Department analyst Avi Jorisch offers a sobering look at past and current efforts to stem this flow, both in the United States and abroad. Only by acknowledging the shortcomings in these efforts, he argues, can we hope to effectively confront an age-old problem that has taken on frightening new dimensions in the post-September 11 era. ... Read more

Customer Reviews (1)

Important Book
Jorisch asks the question that policymakers are afraid to confront. Years after 9/11, there is increasing evidence that we have spent an inordinate amount of resources attempting to identify illicit finance in many of the wrong places, and that we persist in the use of financial ountermeasures developed in an era very different from the challenges of today.Jorisch brings impeccable credentials and personal passion to this well-researched and reasoned book."Tainted Money" should serve as a wake-up call for policymakers, national security buraucracies, and concerned citizens.

John A. Cassara, author "Hide and Seek: Intelligence, Law Enforcement, and the Stalled War on Terrorist Finance ... Read more

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The Lion's Den is the story of Alex Pryce, an urban Ivy Leaguer who is both the product of Chicago's financial district and the inner city borough; who forwent professional designations & Wall Street Hedge Funds, for an underground cash pool & the Las Vegas strip.This story searches into the mindset of a hustler with youthful ambitions, Harvard credentials, limitless credibility, numerous professional designations... who instead of taking Wall Street by storm, elects to head the most dangerous money laundering syndicate ever assembled. ... Read more

Customer Reviews (1)

Disappointed
The description of the book should specifically have said it was fiction. Perhaps I should have realized it was a novel, but after checking out numerous books to determine which were best for my research, that fact escaped me. In any case, the writing style did not inspire me to read it anyway. ... Read more

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Since the tragic events of September 2001 in New York City, a new activity has been associated with money laundering, namely terrorism. Financing terrorism has changed the way the law perceives money laundering. This volume addresses how global crime and terrorism are linked and how to combat it. ... Read more

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In this third book of this exciting mystery series, Paige Harrington, renowned free-lance journalist, gets caught up in an international money laundering scheme when two bankers are murdered and her best friend’s life is threatened. Paige discovers some of the most powerful people in the United States including members of the CIA, senior Pentagon personnel, and White House aides want the illegal flows of money to continue no matter the cost and consequence. Paige’s life and liberty are threatened while the web of relationships among the interesting cast of characters grows in complexity and intensity, and she begins to uncover information that will send many distinguished corporate, legal and government leaders to jail. ... Read more

Customer Reviews (1)

Must be on your must-read pile!
Reviewed by Paige Lovitt for Reader Views (9/08)

Free-lance journalist Paige Harrington is at it again in the third book of her mystery series. Her latest adventure involves the banking industry and money laundering. Paige's interest is sparked when two female bankers are murdered. She fears for her banker friend Emily, because Emily's profile is very similar to these women. Emily isn't as worried as Paige is. However, when a tragedy occurs to someone mistaken for her, she definitely realizes that she has to be very concerned. Paige's involvement is also taken very seriously and her life becomes endangered as well.

The further that Paige investigates, the more she discovers the depth of the corruption. High ranking United States officials, the CIA, and influential corporate executives are all involved. They aren't all good guys either. These are people that will stop at nothing to get what they want. Paige really has her hands full, but it seems like the more they try to thwart her, the more determined she becomes. That is one of the things that I love about her character, she does not let anything dissuade her.

Once again, I loved being able to get my hands one of Allan McLeod's books. "The Money Washers" will draw you in and make you feel like you are sharing the adventure with the heroine. I really enjoyed the creative ideas that are interwoven into the plot. When something unexpected happens, McLeod builds the story up around the event, so that while surprising, it seems plausible and makes sense. I like that he can keep me guessing what the characters are going to do next. McLeod also sparked an interest in me to learn more about money laundering and corruption that has already occurred in the United States. I found out some really interesting information on this subject, which also made the story seem even more real. "The Money Washers" is definitely a book for your must-read pile! ... Read more

Customer Reviews (5)

The "Company" and the bank.
This book is an expose' into the Nugan Hand international bank and it's connections to the CIA.
Jonathan Kwitny is a top-notch investigative journalist and he doesn't disappoint with "The Crimes of Patriots".

Among the topics in the book:
The origin of the "French Connection".

Fraudulent enterprises such as Ocean Shores.

The CIA's involvement in the overthrow of Australian Prime Minister Whitlam.

A shared office building and secretary used by both Nugan Hand and the D.E.A.

The work C.I.A. agents did for Muammar Qaddafi.

Mr. Kwitny cites the work of Alfred McCoy on the "the Golden Triangle" and international heroin trade.
He also covers money laundering operations, particularly for drug traffickers. Nugan Hand had to ba a C.I.A. asset!
The author has frequent footnotes documenting the sources for specific information.

The cast of characters includes some famous intelligence operatives, high ranking military officers, con artists, Air America pilots, and just about any other type of people you would expect in a best seller spy novel. But "The Crimes of Patriots" is nonfiction and very well done at that!

While you were looking at El Salvador . . .
If the press was doing its jobs, then Ronald Reagan would not have been able to appear in public during his Iran-Contra period without also being bombarded with cries of "What about Nugan Hand!"
The Nugan Hand scandal appears to be the biggest, dirtiest scandal to reach the upper levels of American government since Watergate. The suicide of Nugan and the flight of Hand occurred in Australia, but the scandal had all-American origins. If Australian authorities and reporter Jonathan Kwitny are right, then the coverup, which continues, involves at least the Defense and State departments, the CIA, the FBI, the Commerce Department and the National Security Council.
Such a coverup must reach at least into the president's Cabinet.
First a word about Kwitny, a reporter for The Wall Street Journal. No investigative reporter in America is more highly regarded by other reporters, dating back to his exposes of thecorrupt Teamsters Union Central States pension fund in the early '70s.
Frank Nugan was an Australian shyster. Mike Hand is an American, an ex-Green Beret decorated for heroism in Vietnam, later a CIA spook. Starting in 1973, the men set up a bank and a number of other financial companies, eventually opening offices around the world, though East Asia was their happy hunting ground.
Nugan Hand Bank may have been set up to launder and over up CIA money transfers; the Caribbean banks that performed that service folded about the time Nugan Hand Bank was set up.
It is not proper to be too definite about Nugan Hand. Because of incompetence by Australian investigators, many of its records were spirited away after Frank Nugan's death in 1980. (Kwitny says, "For an American, used to FBI efficiency, it is hard to imagine cops so spineless that they let criminal suspects carry evidence away right under their noses, while waiting for permission to examine it." That was written before Oliver North's testimony in the Iran-Contra scandal. Americans would have less trouble imagining such a thing now. 2007 update: This review was published in 1988. Kwitny's naivety seems quaint in the 21st century.)
"This isn't a book for people who must have their mysteries solved," Kwitny warns. No, it is only a book for those who need to have their eyes opened.
It is possible to say definitely that Nugan Hand laundered money and moved cash between countries where it is illegal to export cash. Many of their clients were trying to hide money from tax collectors -- for Australians, Nugan Hand usually charged 22 percent for this service.
Nugan Hand also was definitely, though ineffectually, trying to work illegal arms deals, and it probably was involved in a large-scale opium/heroin scheme in Burma.
Certainly, most of its prominent employees were con men, brothel keepers, dope and money smugglers, disbarred lawyers and other sleazy types. Its other top employees and consultants were retired generals of the U.S. Army and admirals of the U.S. Navy and former officials of the CIA, including former director William Colby. What, Kwitny asks, were men like that doing in association with the most notorious whoremasters and heroin pushers in Sydney, Australia?
For one thing, they were encouraging Americans who had served under them in the armed forces to place all their cash with Nugan Hand. Some of these men worked in places like Saudi Arabia, where there are no banks.
The generals and admirals later claimed that they, too, were victims of Nugan and Hand, but documents prove that these high officers were still taking in cash after Nugan Hand was in bankruptcy. Where the cash went is a mystery. The depositors didn't get it back.
Working with fragmentary records, receivers guessed that Nugan Hand owed more than $50 million when it crashed in 1980. It was probably much more -- many of the people who placed their money with Nugan and Hand were in no position to make claims against the estate in bankruptcy.
Nugan and Hand and their employees lived high, but they couldn't have spent $50 million on themselves in four years (though they started in 1973, the cash didn't start to flow in torrents until 1977.) the receivers found assets of only about $2 million.
Someone looted Nugan Hand after Nugan's death. Who?
There is a Hawaii connection to all this. There was a Nugan Hand Hawaii Inc. At the very least, Nugan Hand illegally engaged in banking in the USA without being regulated as a bank. When pushed by Kwitny, various agents of the American government have said that Nugan Hand's crimes, if any, occurred on foreign soil. But this explanation will not explain why Nugan Hand has escaped inquiry for its banking irregularities here.
It gets worse, right up to cold-blooded murder.
But the greatest value of "The Crimes of Patriots" is not just its partial exposure of a nest of very nasty crooks. Kwitny links it to a continuing pattern of lawlessness in the name of American national security that centers in the CIA -- and taints Congress and the highest levels of the executive branch. "As the theory of perpetual covert action is exercised, our national security is perpetually in the hands of criminals," he writes.
This is not news to anyone who has studied the activities of America's spymasters. But that is a tiny fraction of the voters. (See also my review of George Crile's "Charlie Wilson's War.")The torpor of most citizens in the face of repeated revelations suggests that they think that eggs have to be broken to makea spy's omelets. It is the virtue of "The Crimes of Patriots" to demonstrate that this is not so. Others have said as much, but seldom has the message come from anyone with credentials as respectable as Kwitny's.

Very fine Kwitney book about Drugs, Nuganhand Bank and US Govt high up corruption
This book ties in nicely with Bo Gritz,
Stan Montieth, Rodney Stich, Fletch
Prouty and Tom Valentine works on the
same type subject matter. Also check
out Terry Redd's Compromised which
gores both Clinton and the Bush, the
Presidencila Elder. Highly recommended.

YOU BE THE JUDGE
On the advice of a friend who knows one of the "Cast Of Characters" (a "Yank In The Bank"), I ordered a used copy of this long out of print book. What an eye opener. It's amazing what a group of "former" senior military officers and spooks can get up to when allowed to run amok overseas. You name it and they got away with it. Even though some of the principals are dead, nobody has been held accountable for the myriad of crimes that have occurred abroad. With the lack of support rendered by the U.S. government (especially the F.B.I.), it makes one wonder how "former" some of these players really were. It's also amazing how many of these same people reared their ugly heads years later during "Iran-Contra". Read the book and then decide for yourself.

How the U.S. brought down Australia's government in 1975
As an Australian I was both surprised and gratified that an American journalist should want to trace the extraordinary history of the Nugan Hand Bank's Australian operations.This great document decribes the most cut-throat, heroin dealing, crime syndicate ever to have sullied our shores, and all under the covert auspices of the C.I.A.Kwitny's research is exhaustive and his even handed way of presenting his findings is exemplary of fine journalism.The implications hatched in this veritable can of worms will have net-sleuths busy for years tracing the myriad references to the numerous associates of Nugan Hand who vanished into the night only to surface again in the Irangate scandal.Essential reading for anyone trying to come to terms with the scourge of heroin, the world arms trade and those members of the U.S.'s covert agencies that spread misery in their own and other countries...Read it if you dare! ... Read more

Product Description
The legal difficuties arising out of the growing number of "money-laundering" cases reaching the courts are the subject of a burgeoning literature. Certainly there is much debate among practitioners, judges, and academics as to what the civil courts can do to assist plaintiffs seeking to recover funds in the UK and overseas. This collection of essays, the first on the subject, throws important fresh light on the solutions offered by the common law and equity, and considers the judicial reasoning in recent landmark cases. ... Read more

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An investigation into the BCCI scandal describes the money launderers themselves, the top government officials, the law-enforcement agencies, the criminals, the guilty bystanders, and others involved. 15,000 first printing. National ad/promo. ... Read more