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Recognising and reporting money laundering
In the second of a two-part article Andrew Jackson of Kroll Associates UK Ltd examines how risk exposure to money laundering can be quantified and reduced. In particular he considers the implications of the new Data Protection Act on ‘know your customer’ policy.
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Offshore centres accept anti laundering plans
Following the threat of reputation damaging blacklists, 36 offshore centres proceeded cautiously towards accepting a set of minimum anti-money laundering measures, in an attempt to stem the flow of dirty money through global financial markets. The..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Code issued to help in the battle against laundering
A code of conduct has been issued to financial institutions to try and stem money laundering from the Cayman Islands, one of the world’s leading offshore money centres. The British colony has 590 banks and trust companies that have more than..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Approval given to regional laundering unit
A unit to help combat financial criminal activity in offshore regimes throughout the Pacific is a step nearer after being approved by prime minister Dr Terepai Maoate. However, Dr Maoate is maintaining his stance that the Financial Intelligence Unit..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Trustcredit chiefs charged
The Interior Ministry Investigation Committee has officially brought charges against the heads of the Trustcredit Bank concerning ‘illegal banking’ and ‘phoney enterprise’, after what was described as “serious work..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Parliament considers law against money laundering
The Albanian parliament will consider a new piece of draft legislation entitled “On money laundering” this month, with deputies voting in upcoming plenary session. The drafting process has involved specialists from the National Bank of..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Foreign Affairs minister outlines the fight against corruption
Romanian Foreign Affairs Minister, Petre Roman, has said that Romanians, who have passed through a unique process from totalitarianism to democracy, must be “painfully honest” if they want to gain credibility and accept that..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Parliament considers law against money laundering
The Albanian parliament will consider a new piece of draft legislation entitled “On money laundering” this month, with deputies voting in upcoming plenary session. The drafting process has involved specialists from the National Bank of..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
1999 money laundering operations doubled
The number of suspected money laundering operations in Finland doubled in 1999 from 186 to 348, according to the Finnish National Bureau of Investigations (Keskusrikospoliisi
), with the amount involved in cases police knew about totalling nearly..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Cabinet makes tougher stance on laundering aim
At a meeting earlier this month, the Czech cabinet was presented with information on the function of their operations to fight money laundering. Experts estimate that almost CZK180billion were laundered in the Czech republic between 1993 and 1997..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Three more charged in ELF/Leuna case
Three more individuals have been charged in connection to Elf’s acquisition of the east German Leuna refinery and Minol petrol station chain in 1992. Judge Paul Perraudin went to Paris on March 22-24 to charge businessman Andre Guelfi, Elf..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Promise of tighter bank rules – and they mean it this time
Liechtenstein, for so long the centre of attention in Europe over money laundering and its reputation as a haven for dirty money, will tighten regulations for granting banking licences in a crack down on laundering operations. As part of these..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Ostrich farm chiefs deny fraud
Leicester Crown Court has heard how an ostrich farm which raked in £21million from investors in just 15 months, had the majority of its money laundered into an offshore account. Four men, Brian Ketchell and Allan Walker, Kevin Jones and Russell..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
Euro and cybercash may aid launderers
Speakers at the International Conference Group meeting on money laundering have warned that the introduction of the euro, coupled with money transfers over the internet, are boons to money launderers. Senior investigator with Britain’s customs..
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000
State department reports little progress in global laundering effort
Nikolas Korba reports from the US on two recent American initiatives in its ongoing battle against money laundering
Online Published Date:
01 April 2000
Appeared in issue:
72 - 01 April 2000