Examines the involvement of the banking sector in money laundering over the last two decades, in particular the relationship between banks and money laundering when governments’ attitudes vary and change. Describes the design of the research, which uses multiple regression, Chow and dummy...

Examines the status of regulation and protection of whistleblowers in Australia, focusing on intermediaries and their advisers in financial services. Outlines the ambivalence of the legal system as far as whistleblowers are concerned, and the considerable risks they take, with examples of...

Outlines the special recommendations of the October 2001 meeting on terrorist financing, which complement the 40 Recommendations of the Financial Action Task Force (FATF), and the resulting FATF plan of action; they included ratification and implementation of UN instruments, criminalising the...

Introduces the subject of asset concealment by remarking that hiding wealth derived from organised crime is common in East Asia, and can involve tax evasion, money laundering and bankruptcy. Reviews the amount of tax evasion in Japan, followed by recent statistics of money laundering offences...

Describes the Wolfsberg Principles, which are essentially global anti‐money laundering guidelines for private banking only, and were drafted by 11 banks: Citibank, Morgan, Chase, HSBC, Barclays, Banco Santander Central Hispano, Societe Generale, Deutsche Bank, ABM AMRO, Credit Suisse, and UBS....

Focuses on Guernsey’s financial services industry as an example of a financial intermediary: this includes banks, fund managers, investment advisers, insurance brokers, companies and managers, and fiduciaries like company directors, company service providers and trustees. Describes the...

Introduces the two types of underground banking systems used in Indian and Chinese communities in many parts of the world: hundi or hawala, and chop shop or chitti banking. Explains the terms: hawala means money transfer, chops are seals that facilitate money transactions, and chitti means mark;...

Reviews past developments in information sharing for securities regulation, including cases where the US Securities Exchange Commission (SEC) initiated investigations into suspicious insider trading in US markets through accounts located outside the USA: the St Joe case, and SEC v Wang & Lee....

Discusses the effect of globalisation of financial markets, especially the effects of international initiatives to improved financial probity and stability in offshore centres, with Jersey as the specific example. Argues that the effect on offshore centres is always positive, and that...

Describes briefly how France has recently adopted stricter rules for compliance in the fight against money laundering, and the role played by regulatory authorities in improving compliance; France was the first country to implement the FATF Recommendations in 2001, it has widened the scope of...