Financial People, realtors and others should read this World Money
Laundering Report. In Canada AND the US there are more risks than ever for
bankers, real estate people, and just plain people who may find themselves
embroiled in something because of the people they are dealing with.
World Money Laundering Report: Digest
17 July 2003
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WMLR Digest is a service of World Money Laundering Report - part of The Anti
Money Laundering Network. WMLR Digest is a free weekly newsletter for
subscribers.
Subscribe / Unsubscribe information is at the end of this newsletter.
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These are just some of the stories from World Money Laundering Report:
Online in the past week
Visit www.wmlro.com for the full story and six weeks' free trial
*** USA PATRIOT Act: National and Global Impact
Michael A. Dawson, Deputy Assistant Secretary, Critical Infrastructure
Protection and Compliance Policy, USA Department of the Treasury writes that
all countries should implement their rules and outlines the US Treasury's
international AML strategy and USA PATRIOT Act issues. Foreign bankers
should worry.
*** Untruths: an easy to learn guide
In every money laundering scheme, there is a lie. And understanding the
dynamics of lying can help to identify money laundering risk.
*** Terrorism v. organised crime: where do they differ?
It has long been known that organised crime funds terrorism. But the seizure
of a substantial quantity of cigarettes raised a question: where does
organised crime end and terrorism begin?
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*** South Africa - the pace hots up
Since South Africa's latest Anti Money Laundering provisions came into force
on 30 June 2003, there is increasing concern in the financial services
world.
*** Back to bananas
Amongst attempts to provide an international currency standard, are bananas
the next big thing?
*** Compensation and Confiscation: where state and victim collide
The Monday Editorial. Nigel Morris-Cotterill examines the conflict between
state and victim in financial crime.
*** Calling a spade a spade: Spear and Jackson questioned
If you are more than 35, have forked a border, turned a sod or clipped a
hedge, the chanced are you did it with Spear and Jackson tools. But a victim
of fashion and globalisation turned the clear market leader into a
"microcap." What is going on?
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*** Iraq: fraud and negligence as a cause for invasion.
The fraudulent claims that provided much of the excuse for the 2003 invasion
of Iraq are having widespread fallout. The real lesson to be learned is that
everyone should take care in performing due diligence, regardless of the
circumstances.
*** Accounting fraud - the stock option factor
A leading US business school has analysed a series of cases where accounting
irregularities have played a part in failure or scandal and identified
several common factors - including generous stock options.
Read these stories and more at
World Money Laundering Report: Online
Visit www.wmlro.com
And get six week's free trial
------------------
World Money Laundering Report: Digest news
*** Fiji Daily Post reports that the government has committed to set up an
FIU to try to control the "hundreds of millions of dollars" it estimates are
laundered there every year.
*** WSBtv.com reports that Hector Fabio Botero, of Pereira, Colombia has
pleaded guilty to laundering an estimated USD7 million in a conviction under
the long standing Operation Juno undercover sting.
*** SF Gate News reports that Nikolai Tehin, a San Francisco lawyer, has
been arrested on charges of purloining some USD2 million out of damages won
for clients. His six bedroom house and a 20 metre yacht (yes, that is the
same as two busses end to end) are amongst the assets in view. It is alleged
he used funds from each win to repay money taken from previous wins in a
perverse "ponzi" scheme.
*** Boston Herald reports that, at last, Massachusetts is to create a state
offence of money laundering and, at the same time, to free up data for use
in investigations.
============================
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Download the **free** Anti Money Laundering Network screensaver now from
http://www.vortexcentrum.com
==========================
=== Conferences ====
PriceWaterhouseCoopers'
Anti Money Laundering Asia Conference
31 July - 1 August 2003
Singapore
www.euro-events.com/aml2003
===================
Canada, USA and International Tax advice
www.centa.com
====================
The best counter-money laundering e-learning programme
Visit www.quicktolearnmore.com
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IF YOU LIKE this: you'd love World Money Laundering Report.
See www.vortexcentrum.com for details.
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Full contact details are at www.antimoneylaundering.net
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Editor Nigel Morris-Cotterill
WMLR Digest ISSN1473-3390
World Money Laundering Report (electronic) ISSN 1473-3439
World Money Laundering Report (print) ISSN 1473-3455
Email - [email protected]
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