- Paperback: 191 pages
- Publisher: Butterworth Heinemann (July 1, 2004)
- Language: English
- ISBN-10: 0-7545-2623-2
- ISBN-13: 978-0-7545-2623-0
- Dimensions: 8.9 x 5.8 x 1 inches
In the drive to halt funding terrorist activity, control of money laundering activity has risen high on the Government’s agenda. The Money Laundering Regulations 2003 expand the Regulator’s already wide powers. Failure to comply with anti-money laundering provisions prevents businesses functioning properly, carries severe financial penalties and can result in serious criminal sanctions. The 2003 Regulations require regulated companies to ensure they: – put in place proper identifying, recording and reporting procedures; – appoint a Money Laundering Reporting Officer; – make staff aware of the Regulations and the Proceeds of Crime Act 2002; and – provide proper training Given the severity of the sanctions, it is essential that you are aware of your obligations. Using flowcharts, diagrams, checklists and bullet points, this timely and user-friendly manual shows you how to comply fully and effectively. Money Laundering: Business Compliance: – shows you how to spot activities that must be reported; – alerts you to when and how you must report and to do so within minimum business interruption; – demonstrates how to ensure compliance with the regulatory framework; – gives details on correct training procedures; – tells you how to avoid falling foul of the stringent rules against tipping off; and – arms you with the knowledge to avoid the pitfalls. This book is essential reading for MLROs, directors, compliance officers, risk officers, finance directors and accountants, company secretaries and all those within the regulated sector. With its uniquely practical approach and hands-on guidance, it should be he first port of call for all those wanting to understand the regulations and the guidance notes. Bazley and Foster bring experience and inside knowledge of the Regulations and potential pitfalls in practice, and provide simple tips to help companies avoid liability for money laundering.
About the Authors
Dr Caroline Foster was a legal and policy advisor, and a member of the diplomatic service, at the New Zealand Ministry of Foreign Affairs and Trade from 1992 – 1999. During her time at the Ministry, Caroline served as a member of New Zealand delegations at negotiations on air services, indigenous peoples’ rights, and at the 1995 World Summit for Social Development. She provided legal advice on a wide range of subjects, including during the negotiation of the Kyoto Protocol and the Cartagena Protocol on Biosafety, as well as in relation to issues including the work of the International Law Commission, United Nations sanctions, refugee law, child soldiers, diplomatic and consular protection, whaling, and trade in endangered species.
Caroline maintains a cross-cutting interest in a number of fields of international law, including dispute resolution, trade, human rights, international environmental law, law of the sea and the law relating to Antarctica. She has held visiting fellowships at the Lauterpacht Research Centre for International Law at the University of Cambridge in 2006 and 2007, working on a manuscript for a forthcoming book on Science, Proof and Precaution in International Courts and Tribunals.
Caroline has published in the European Journal of International Law, the Australian Yearbook of International Law, the New Zealand Yearbook of International Law, the Netherlands International Law Review, the Review of European Community and International Environmental Law, the Journal of Ocean Development and International Law, the International Journal of Marine and Coastal Law, and the Singapore Journal of International Law, and has contributed a number of chapters to books.
Caroline has done work in the NGO community in London and for the British Institute of International and Comparative Law. Caroline speaks French and Spanish as second languages and holds an LLM and a PhD from the University of Cambridge. At the University of Auckland she teaches Public International Law in the LLM programme and an elective course on Law of the Sea and Antarctica in the undergraduate programme, as well as teaching in the undergraduate Public Law course.
Stuart Bazely is the Managing Director of Compliance Services, Momenta Group. He is a compliance and AML expert and editor.