| Foreword | p. xiii |
| Preface | p. xv |
| Table of Abbreviations | p. xvii |
| Table of Cases | p. xix |
| Table of Statutes and Statutory Instruments | p. xxviii |
| Introduction | p. 1 |
| Money Laundering - Methods, Risks and Consequences | |
| Introduction | p. 5 |
| Vulnerabilities and Risks | p. 5 |
| Geographic Location | p. 5 |
| Law Enforcement Constraints | p. 7 |
| Offshore Financial Industry | p. 8 |
| Gaming Industry | p. 8 |
| US Dollar Circulation and Demand | p. 8 |
| Cash-oriented Societies | p. 9 |
| Free Trade | p. 9 |
| Emerging Threats | p. 10 |
| The Danger of Money Laundering | p. 14 |
| The Perpetuation of Crime | p. 14 |
| 'Purchasing Power' | p. 17 |
| Facilitating Fiscal Abuses | p. 20 |
| Economic Impact of Money Laundering | p. 22 |
| Conclusion | p. 27 |
| Paradise Lost? Offshore Financial Havens and Money Laundering | |
| Introduction | p. 29 |
| Defining the Offshore Financial Industry | p. 29 |
| Emergence of the Region's Offshore Financial Industry | p. 30 |
| The Facilitators of Money Laundering | p. 34 |
| Offshore Banks | p. 34 |
| Offshore Companies | p. 37 |
| Offshore Insurance | p. 39 |
| Offshore Trusts | p. 39 |
| Secrecy of Operations | p. 44 |
| Public Records | p. 45 |
| Banking/Financial Confidentiality | p. 46 |
| Penetrating the Wall of Secrecy | p. 48 |
| Conclusion | p. 52 |
| The Evolution of Money Laundering Control - A Historical Examination of Regional And International Initiatives | |
| Introduction | p. 55 |
| United Nations | p. 55 |
| Basle Committee on Banking Regulations and Supervisory Practices | p. 58 |
| Offshore Group of Banking Supervisors | p. 59 |
| Financial Action Task Force | p. 60 |
| Caribbean Financial Action Task Force | p. 63 |
| Commonwealth | p. 66 |
| Organisation of American States (OAS) | p. 68 |
| Caricom | p. 71 |
| Summit of the Americas | p. 72 |
| Council of Europe/European Union | p. 73 |
| ICPO/Interpol | p. 74 |
| World Customs Organisation | p. 74 |
| International Organisation of Securities Commission | p. 75 |
| Egmont Group of Financial Intelligence Units | p. 75 |
| Wolfsberg Group | p. 76 |
| Group of Eight (G-8) | p. 76 |
| International Monetary Fund and World Bank | p. 77 |
| Conclusion | p. 78 |
| Making Crime a Non-Profit Activity - Confiscation and Forfeiture | |
| Introduction | p. 81 |
| Scope of Laws - Crimes Covered | p. 81 |
| Forfeiture | p. 82 |
| Confiscation | p. 88 |
| Benefit | p. 88 |
| Presumptions | p. 90 |
| Realisable Amount | p. 92 |
| Enforcement | p. 93 |
| Ancillary Orders | p. 94 |
| Information Gathering Powers | p. 94 |
| Preserving Assets | p. 100 |
| Standard of Proof | p. 104 |
| Corporate Veil | p. 104 |
| Seizure/Forfeiture of Property Imported or Exported | p. 105 |
| Dead or Absconding Offenders | p. 107 |
| Dealing with Forfeited/Confiscated Assets | p. 107 |
| Civil Proceedings | p. 108 |
| In Rem Forfeiture | p. 108 |
| Actions in the Public Interest | p. 109 |
| Conclusion | p. 110 |
| Criminal Liability for Money Laundering | |
| Introduction | p. 113 |
| Money Laundering Legislation | p. 114 |
| Crimes Covered | p. 114 |
| Offence of Money Laundering | p. 115 |
| Actus Reus | p. 115 |
| Mens Rea | p. 118 |
| Proof of Illicit Source of Wealth | p. 121 |
| Defences | p. 123 |
| Corporate Criminal Liability | p. 127 |
| Accessory Liability | p. 131 |
| Inchoate Offences | p. 132 |
| Property | p. 132 |
| Extra-territoriality | p. 133 |
| Presumptions and Reverse Onus of Proof | p. 133 |
| Penalties | p. 136 |
| Use of Non-Money Laundering Laws to Prosecute Money Laundering Activity | p. 137 |
| Conspiracy to Defraud | p. 138 |
| Conclusion | p. 139 |
| The Civil Law Dimension | |
| Introduction | p. 141 |
| Principal or Facilitator Liability | p. 142 |
| Common Law Restitution | p. 142 |
| Actions in Equity Against Intermeddlers | p. 143 |
| Third Party Recipients | p. 144 |
| Dishonest Assistance | p. 149 |
| The Fiduciary 'Fiction' and a New Basis for Accessory Liability | p. 155 |
| Misuse of Information and Third Party Liability | p. 159 |
| Quandary for Intermediaries | p. 160 |
| Corporate v. Personal Liability | p. 161 |
| Tracing | p. 163 |
| Remedies | p. 167 |
| Tools of the Civil Law | p. 170 |
| Information Gathering Powers | p. 170 |
| Preserving Assets for Judgment | p. 173 |
| Enforcement of Foreign Judgments | p. 175 |
| Funding Litigation | p. 175 |
| Conclusion | p. 176 |
| The Prevention and Detection of Money Laundering | |
| Introduction | p. 179 |
| Who Should be Responsible? | p. 179 |
| The Financial Services Industry | p. 180 |
| Non-Financial Sector | p. 182 |
| Transaction Reporting | p. 183 |
| Currency Transaction Reports | p. 184 |
| Suspicious Transaction Reports | p. 187 |
| Internal Reports | p. 189 |
| Legal Profession Exemption | p. 190 |
| Predicate Offences Triggering Reports | p. 190 |
| Consequences of Filing Reports | p. 191 |
| Immunities and Protection | p. 191 |
| Tipping Off | p. 193 |
| Monitoring Orders | p. 197 |
| Internal Controls | p. 198 |
| 'Know Your Customer' | p. 199 |
| Record-Keeping | p. 200 |
| 'Know Your Staff' | p. 201 |
| Preserving Financial Sector Integrity | p. 202 |
| Reporting Authority/Financial Intelligence Units | p. 202 |
| External Controls: Supervision of the Financial Services Industry | p. 205 |
| Civil Liberties Issues | p. 207 |
| Conclusion | p. 210 |
| International Co-operation | |
| Introduction | p. 211 |
| Development of Mutual Assistance Mechanisms | p. 211 |
| Purpose of Mutual Legal Assistance Agreements | p. 212 |
| Mutual Assistance Laws | p. 213 |
| Designated Countries | p. 213 |
| Central Authority | p. 213 |
| Types of Assistance Required | p. 214 |
| Limitations on Assistance Available | p. 216 |
| Co-operation v. Confidentiality | p. 220 |
| Enforcement of Foreign Confiscation/Forfeiture Orders | p. 221 |
| Asset sharing | p. 224 |
| Private Litigants | p. 225 |
| Letters Rogatory | p. 225 |
| Use of Information Obtained in Civil Proceedings for Foreign Criminal Investigations | p. 226 |
| Improperly Obtained Evidence | p. 227 |
| Recovering Offenders | p. 228 |
| Non-traditional Areas of International Co-operation | p. 229 |
| Universal Jurisdiction--The International Criminal Court | p. 230 |
| Conclusion | p. 232 |
| The 'Long-Arm' of American Anti-Money Laundering Initiatives | |
| Introduction | p. 233 |
| Jurisdiction and Extra-territoriality | p. 234 |
| Liability for Money Laundering under US law | p. 235 |
| Jurisdiction Over the Potential Defendant | p. 239 |
| Venue | p. 241 |
| Obtaining Evidence Located Abroad | p. 241 |
| Forfeiture by US Courts of Assets Located Abroad | p. 247 |
| Index of Forbidden Persons | p. 251 |
| Regulating Foreign Financial Intermediation | p. 253 |
| US Foreign Policy | p. 255 |
| New Good Neighbour Policy | p. 256 |
| Conclusion | p. 257 |
| The Phenomenon of Categorisation | |
| Introduction | p. 259 |
| Financial Action Task Force (FATF) | p. 259 |
| Financial Stability Forum (FSF) | p. 263 |
| Organisation for Economic Co-operation and Development (OECD) | p. 265 |
| Conclusion | p. 266 |
| Conclusion | p. 269 |
| Annex | p. 275 |
| Bibliography | p. 277 |
| Index | p. 295 |
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