It provides a comprehensive guide to the relevant legislation and offers a detailed examination of the UK Government’s measures to combat money laundering and terrorist financing.
Business and legal perspectives
The book achieves its aim of examining money laundering from both a business compliance and a legal enforcement perspective. The step-by-step approach to practice and procedure is of great practical assistance to all of those who are responsible for compliance and who act or advise in legal proceedings.
Money laundering background
Part A of the book introduces the topic of money laundering in terms of its existence, definition, development, recognition and anti-combat measures. This background is useful as it gives a context to the legislation and other regulations introduced by various governments.
The background gives helpful insight into the draconian measures adopted by legislators, law enforcement agencies and upheld by the judiciary; as part of the criminalisation process.
The examination of the Money Laundering Regulations in Part B of the book, with guidance from professional bodies and trade associations and of the substantive criminal offences (including Proceeds of Crime Act 2002) in Part C, provides a through examination of all the anti-money laundering measures.
The international coverage is useful as money laundering occurs across many different borders and jurisdictions. As the authors observe “different jurisdictions view the matter in different ways” and devise their own solutions. No one country can be viewed in isolation, a point recognised by the United Nations, European Union and the Financial Action Task Force. The three barrister authors are obviously assisted by their own experience in this area of law in providing clear and practical guidance, particularly in the difficult and complex areas of civil and criminal confiscation (see part D).
As a practitioner myself, I find the 52 appendices (containing 928 pages) particularly invaluable; all the relevant statutes, secondary legislation, guidance and international directives contained in one book. This is an essential tool in any practitioner’s kit bag.
Colin Wells is a barrister at 25 Bedford Row