Money Laundering Compliance 4th ed

Designed to be used as a constant reference and user-friendly companion, the Fourth Edition provides a technical and practical overview of both the UK and key international provisions designed to prevent the laundering of the proceeds of serious crime and the financing of terrorism. As well as a new chapter on cryptoassets and regulation the new Edition has been completely revised in line with recent legislation and case law, and also includes new and updated material covering:

• beneficial owner disclosure for companies
• significant controller registers (companies)
• company ownership registers
• UK land registry ownership disclosure for entities
• “Economic Substance” (companies)
• trust registers
• Amended FATF 40 + 9 Recommendations
• anti-Oligarch sanctions & Klepto regulations

This is an essential resource to ensure finance professionals, private bankers, lawyers, trust and estate practitioners, and other advisers are up to date with this increasingly complex and sensitive area of law.

table of content

1. Introduction: The Core Principles, and Towards a 'Cashless Society'

2. The UK AML-CFT Framework – Background

3. The UK AML-CFT Framework – The Principal UK ML Offences

4. The UK AML-CFT Framework – Failure to Disclose and Tipping-off

5. The UK AML-CFT Framework – Tracing, Asset Recovery and Forfeiture

6. The UK AML-CFT Framework – The Money Laundering Regulations and JMLSG Guidance

7. The UK AML-CFT Framework – Technical Issues

8. Fiscal Offences, Foreign Tax Enforcement, 'Legacy' Issues, FATCA and Amnesty Programmes

9. Tax Transparency, TIEAs, OECD Automatic Exchange of Tax information and the Common Reporting Standard

10. EU initiatives and the Money Laundering Directives

11. Customer Due Diligence, Compliance and Risk Management

12. STR Reporting Procedures and Dealing with the Client

13. Legal Professionals and Practitioners – Specific Issues

14. Trustees, Executors and TSPs – Specific Issues

15. CSPs: Specific Issues

16. Banks (Internal Policies) and Investment Managers – Specific Issues

17. AML in Selected Non-UK Jurisdictions

18. Bribery and Corruption

19. Concerns and Conclusions

Appendices