Product Description
In the past decade, money laundering has gone from an obscure legal topic to a practice area of major prominence in federal criminal law. Under the federal sentencing guidelines, punishment for money laundering is substantially higher than for most other "white collar" offenses, including, in most cases, the underlying offense that gave rise to the money laundering charges in the first place. For example, under recent legislation, financial institutions that are found guilty of laundering money face a literal "death penalty". Also, as of October 17, 2001, the House of Representatives has passed a new money laundering bill.Given the close tie between money laundering and drug trafficking, organized crime and international terrorism, the boom in money laundering prosecutions is expected to grow, making this are of the law a rising and developing "hot" area of the law, becoming the new RICO.Federal Money Laundering Regulation: Banking, Corporate and Securities Compliance focuses on three related topics:

1. The federal money laundering statutes (18 U.S.C. §§ 1956 and 1957)2. The federal asset forfeiture statutes applicable to money laundering activities (18 U.S.C. §§ 981 and 982)3. The numerous domestic currency transaction reporting requirements as set forth in Title 31 of the U.S. Code.Federal Money Laundering Regulation: Banking, Corporate and Securities Compliance provides comprehensive legal analysis as well as practical information that the reader can use to deal with real-life, day-to-day situations. This book is the most authoritative but practical publication available on this subject area. It is written in an easy-to-read format designed to offer timely and practical analysis and discussion to attorneys, executives, business owners of all types, financial personnel, government regulators, investors and launderers who all face the issues of money laundering and asset forfeiture.For example, financial institutions can learn how to prevent inadvertent non-compliance with these pervasive laws. Attorneys can consult the book to create an effective plan of action for clients. Law enforcement agents dealing with financial crime issues and prosecutors preparing indictments can use the book as an essential reference tool.Because the subject area has expanded quickly and still rapidly evolving, Federal Money Laundering Regulation: Banking, Corporate and Securities Compliance will be updated on an annual basis. The book cites the relevant statutes and the most recent and useful cases. The organization of the book is logical and offers step-by-step guidance through each topic. Also, the book provides numerous illustrations, examples and practice pointers, based on real cases. ... Read more

Customer Reviews (2)

Leading Treatise on Anti-Money Laundering Regulation
The book contains practically everything needed to ensure anti-money laundering compliance for banks, securities firms and other financial institutions, as well as extensive coverage of money laundering crimes and forfeitures.There is also plenty of interesting background material on money laundering techniques and terrorist financing.Recomended as a "must-have" core holding for every in-house corporate and white-collar crime library.

An authoritative, practical compliance guide
I would recomend Federal Money Laundering Regulation as a well-written guide to understanding and complying with U.S. laws and regulations covering money laundering and terrorist financing.

As noted in the preface, the book is a comprehensive and practical resource not only for banks and savings and loans, and their legal counsel, but also for the many other businesses that are now governed by anti-money laundering regulations, such as casinos, investment companies, securities broker-dealers, insurance companies, check cashers, travel agencies, and businesses involved with vehicle sales, real estate closings, or precious metals.

Federal Money Laundering Regulation contains 27 chapters:

1.Introduction to money laundering
2.How money is laundered
3.U.S. money laundering laws
4.Law enforcement and regulatory agencies
5.Recordkeeping requirements
6.Reporting requirements--general
7.Suspicious activity report
8.Currency transaction report
9.Currency and monetary instrument report
10. Reporting of foreign bank and financial accounts
11. Report of cash received in trade or business
12. Registration of money services businesses
13. Anti-money laundering programs for financial institutions
14. Customer identification programs
15. Due diligence for correspondent accounts and private banking
16. Information sharing among financial institutions and law enforcement
17. Money laundering crimes--general
18. Domestic money laundering transactions
19. International money laundering offenses
20. Undercover "sting" operations
21. Monetary transactions in unlawfully derived property
22. Conspiracy to commit money laundering
23. Asset forfeiture--general
24. Civil asset forfeiture
25. Criminal asset forfeiture
26. State money laundering laws
27. Worldwide efforts against money laundering

There are also dozens of sample forms, checklists, and other compliance aids.

An excellent book well worth considering. ... Read more

Product Description
This book gives a broad analysis of the legal issues raised by the international fight against money laundering. It offers extensive comparative research of the criminal and preventive law aspects from an international perspective. Most of this volume is devoted to specific legal problems that spring from the international nature of the money laundering phenomenon. It contains the most detailed overview yet published on the rules and practices of international cooperation in the fight against money laundering, and the jurisdictional questions that inevitably arise in this context. ... Read more

Product Description
All the major financial centres have experienced a rise in anti-money laundering rules and regulations. Initially, anti-money laundering laws were used as a weapon in the war on drugs, whilst more recently they have been deployed in the ongoing fight against terrorism. These developments, the authors reveal, have had serious consequences for banks and other financial institutions - affecting not only profit margins but also the way in which business is conducted. Topical and pertinent issues addressed in this book include questions such as, has all the recent legislative activity really put a stop to the problem? Are the international rules being implemented as carefully as they should? How level is the playing field in cross border banking? The regimes and implementation of anti-money laundering laws and regulations of four major, cross border, financial centres are also examined in depth: Switzerland, Singapore, the UK, and the USA. Going beyond the purely descriptive, there are comparative analyses of these countries against existing international standards - with illuminating results.This new book is full of original insight and analysis and will be an invaluable resource for lawyers, both scholarly and practitioner based, with an interest in economic crime as well as policymakers and compliance officers within banks and other financial institutions. ... Read more

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Product Description
Confidential Informants are criminals who are saving themselves from something.However, Robert W. Morgan was no criminal. He was a loving father who objected to the sale of drugs on his daughter's schoolyard and wanted to make a difference. In time, he would assist in exposing the brains of the Mafia's most brilliant international cartel. The major players included the infamous mobsters Joseph Bonanno, Meyer Lansky, and John Charles Piazza III, all with solid links to the Five Families.

Under the combined aegis of the DEA and the FBI, Morgan unraveled the most sophisticated money-laundering scheme in the history of international crime and cost the Mafia a documented half-billion dollars.

In the end, he would also hear a London confession on who killed Pope John Paul I and why. Pope John Paul I died after just one month as pope. He knew too much.

Morgan waited this long to reveal all in an attempt to avoid sure hits on his now grown daughter's life. ... Read more

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In the past twenty years the profits of crime has moved rapidly up the criminal justice agenda. The Proceeds of Crime Act 2002 is another step towards greater concentration both on the financial aspects of crime and on the internationalisation of criminal law. It will put in place the Assets Recovery Agency, which will have power both to bring civil proceedings to recover proceeds of crime without a prior criminal conviction and to raise assessments to taxation. This book subjects the law of laundering to theoretical critique and to a human rights’ audit. ... Read more

Product Description
This book takes the reader deep inside the world of money laundering and shows it to be a highly sophisticated, global business worth trillions of dollars, and one that poses a serious and systemic threat to entire Western economies. Investigative journalist and financial expert Nick Kochan profiles the perpetrators and the investigators, and explains the methods employed by international criminals and terrorists to turn dirty money into untraceable wealth. The effort to stop this sinister financial pipeline is one of the highest profile law enforcement activities in the world at present. But is it a losing battle? The Washing Machine reveals that the dual forces of globalization and a lack of true international co-operation are playing directly into the hands of the criminals. ... Read more

Customer Reviews (8)

A Good Introduction But not an Academic Work
Kochan's book is a good grounding introduction in the phenomenon of international money-laundering and I would reccommend it for any individual starting off in the area of financial crime. However, for the experienced practitioner nothing in the book is new and indeed some of the case studies presented by Kochan are in places more anecdotal than scientific. Therefore, if you are seeking advice and guidance on the features and characteristics of the most up to date thinking in the area I would reccommend more academic publications such as the FATF reports. Nevertheless the individual case studies are illuminating even if they do indulge a little in the sensational.

Twin Peaks
The perverse pursuit of the terrible twin peaks of power and pleasure has, from time immemorial, driven human beings to engage in truly astonishing flights of creative genius, not least with regard to matters financial. Aficionados of the money launderer's art will find much to engage them in The Washing Machine as Nick Kochan, the distinguished investigative journalist, cruelly and clinically strips away not only the glittering corporate fa�ade of many an august institution to reveal the greedy, cynical inner launderer, but also the glittering Armani suit of many a Mafiosi cash smuggler to reveal the commodiously customised inner boxer shorts.
Kochan takes absolutely no prisoners in this pitiless forensic dissection of the modus operandi of both primary and secondary players of the game - the criminals and terrorists and those who provide succour and assistance in the intricate business of transforming the fruits or means of their nefarious activities into apparently legitimate sources of income to be safely deposited in one of the many idyllically located, fabulously discreet and oh so conveniently "tax neutral" offshore jurisdictions.
For those of a Panglossian disposition - who inhabit a world in which an occasional proverbial bad apple may turn up in an otherwise virtuous corporate or political barrel - this book may prove to be a truly disturbing read.
It will, however, be warmly welcomed by those who affect a more jaded attitude to world affairs as an assiduously researched and deeply satisfying rounding up of both the usual- and some of the more unusual - suspects.
But for those who are perched precariously on the fence that lies between these two extremes and are engaged in the anti- money laundering industry as regulators, practitioners or educators, this book will prove to be an invaluable resource.
The first UK anti money laundering statute, the Drug Trafficking Offences Act of 1986 simply addressed the obvious target of dope dealers seeking to slide duffel bags stuffed with cocaine dusty fivers over the counters of their local high street banks. In the mid 1980s, traditional organised crime groups, such as the Sicilian and Detroit Mafia were very much in the frame of those seeking to outlaw money laundering. The Medin case was a classic example of the use of London solicitors and offshore Jersey shell companies to launder the proceeds of the US Mafia cocaine trade at the rate of $500,000 per week. Meanwhile, the Brinks- Mat bullion robbery was one of the high profile cases from that erawhich created pressure for the scope of laundering liability to be extended beyond merely the proceeds of drug trafficking. Members of that syndicate notoriously would withdraw enormous sums of money in cash and carry it from high street banks in black bin liners to the extent that so many notes were supplied to the regional office of one particular bank that the Bank of England had to notify the Treasury. No alarm bells were sounded by any of the institutions involved about the massive quantities of gold or money that were being moved around.
It is a measure of just how radically the legal climate has changed that such a state of affairs would be utterly unthinkable today. The notion of money as a commodity exhibiting the characteristic of absolutely negotiability as a means of exchange - an instrument which may be taken completely free of the equities - whose origins are of no concern to the transferee - is but a distant memory.
As those of us who have reason to deal with these matters are only too painfully aware, in the past twenty years the areas of potential liability for money laundering have been remorselessly extended to encompass an ever widening range of occupations and professions.
Those seeking examples and case studies to illustrate the money laundering potential and propensities of such businesses whose owners and employees may be liable if they fail to take adequate cognisance of the provenance of their customers' funds are amply catered for in The Washing Machine.
To take, for example, the current Money Laundering Regulations list which -apart from the obvious traditional financial institutions related activities -now includes, inter alia:

* Provision of accountancy and auditing services:( Russian mafiap 18)

* Provision of legal services: (launderers in London : p 260 )

* Operating a company formation business: ( BoNYGate case chapter 2)

* Bureaux de change and money service operators :-( Ussama El-Kurd case p 227)

* Operating a casino: -( both in the real world and cyberspace pp7, 134 and 272)

* Estate agency work: -(the Provisional IRA p 86)

* Dealing in high value goods:..(paramilitaries and theirBMWs p 88)

* Art auctioneers:(the Russian Mafia p 8)

But this is just the icing on the cake. The book is structured to cover four principal areas of concern:- the Russian criminal oligarchs; terrorist financing; black markets for the supply of illegal goods and services, and the banks and other professional gatekeepers whose services are utilised to assist in the laundering process. The fifth and final part provides an astute critical analysis of the response of law enforcement agencies in the UK, the US and around the world.
While the ending of the cold war may have brought a peace dividend for some it has proved a cruel day of reckoning for many in the former eastern block. Kochan chronicles the pathos and absurdity of the spectacle of a senior Russian nuclear physicist and a computing expert being reduced to working with the Mafia to market Italian pantyhose through kiosks in Russian towns-all the while paying $1500 per month protection money which did not, in the end, save them from a beating.
This story was one small episode culled from the testimony of a whistleblower who provided western law enforcement agencies with chapter and verse on the business empire of one of the most notorious Russian criminal oligarchs, Semion Mogilevich, whose interests mimicked those of traditional US Mafiosi families, incorporating the sale and transportation of illegal goods and services including narcotics, prostitution and gambling.
However, as one FBI Director noted in a speech to his opposite number in Moscow a few years ago, it took law enforcement in the US 50 years before it finally began to get to grips with organised crime. This was achieved by, inter alia, the introduction in the early 70s of measures such as the increased use of undercover sting operations; the RICO legislation; the Bank Secrecy Act and anti- paperhanging measures such as the creation of the Securities Information Center to counteract the use of lost stolen and counterfeit securities as collateral for loans. This latter reform met with stiff opposition from the Chicago Mafia who fought the introduction of the SIC in the Court of Appeals on the basis that it would restrict the negotiability of financial paper. They lost, however, as the Court accepted the admitted impediment to negotiability as an acceptable trade off for an effective weapon to use against the Mafia paperhangers. The Russians, he noted, should not therefore lose too much sleep if they had not succeeded in eradicating organised crime after a few short years of a free market economy.
The intricate financing arrangements of Bin Laden's Al Qaida, the Provisional IRA and other terrorist organisations are chronicled in Part 2. While the use of relatively unregulated high value goods, such as African blood diamonds, by terrorist organisations has been alluded to elsewhere, readers may be surprised to discover that Osama also made use of the Yemeni honey trade as a smuggling and money laundering front. Honey apparently enjoys the status of being a particularly useful commodity for the transport of illegal goods as a consequence of its property of extreme stickiness!
Segueing smoothly from honey to honey traps brings us to Operation Casablanca and the use of contemporaneous modes of law enforcement such as electronic surveillance and covert human operations, which have been , pioneered to such devastating effect by US agencies - notably the FBI, DEA and Customs.Operation Casablanca was a massive US sting operation mounted to infiltrate the Colombian drugs money laundering machine being run by a dozen Mexican banks. Before the final denouement and arrest of the bankers they were offered the delights of a corporate hospitality package in the guise of a visit to a brothel, which turned out to be the local police station.
This operation bears many of the hallmarks of the famous BCCI related Operation C Chase sting where the unsuspecting Colombian drug money launderers were entertained to the lavish phoney Florida wedding reception of a pair of undercover US customs operatives. The male members of the party were then cordially invited to withdraw from the ladies to enjoy a hard core porn movie session where they were to meet a similarly ignominious fate - an admittedly rather basic but nevertheless remarkably successful strategy for the rounding up of the usual suspects....
The Brinks- Mat launderers' adventures with cash filled bin liners pale into insignificance when compared with the audacious wholesale plundering of state coffers by African heads of state such as President Sani Abacha who, with the eager cooperation of the friendly State Bank Governor, was in the habit of arranging for bags of cash, typically 15 per trip to be removed from the bank and ferried chez Abacha in an armoured car flanked truck.
Abacha's ill gotten gains were duly laundered in many of the most respectable of the world's financial institutions, including 23 London banks. These banks have escaped the full force of the law by dint of the fact that they engaged in these pursuits before the FSA was endowed with its current enforcement powers. Kochan describes this truly shocking and astonishing episode in excruciatingly intimate detail.
Such depredations make a total mockery of the whole process of government and lend succour to those prone to argue that overseas aid is a simple means of transferring shed loads of cash from poor people in the developed world to rich people in the developing world. This chapter should be read by anyone engaged in banking anywhere in the world.
Given that great wealth and power will always be coveted as the primary conduit to pleasure and even in, some cases eternal paradise, and given that, save the unlikely possibility that one may discover an ability to select one's forbears on the basis of their ability to bestow inherited wealth on their fortunate offspring, there will always be war, crime, corruption, the cooking of corporate books and the manipulation of financial markets. It follows inevitably that there will, of course, always be bankers and other professionals only too willing and eager to offer their services to assist in the sanitising and preservation of the proceeds of such activities in exchange for appropriate remuneration.
Governments and law enforcement agencies may seek to thwart such activities, but so long as politicians and others in positions of power and influence wish to evade taxation, make killings on the markets, obfuscate the financial provenance of their political support, wage wars, operate maverick and highly resourced intelligence services and engage in ideological struggles, the effectiveness of such enforcement will never meet the possibly more exacting standards of those who do an honest day's work and pay tax at source from their incomes.
In writing this fascinating, exhaustively researched and generously sourced book Nick Kochan has forged a powerful weapon with which they can at least come out fighting.


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ultimately naive and silly
This book is, ultimately, a naive and silly approach to a serious subject. I am afraid that the author comes too late to the game and brings too little. Worth a miss.

Important subject but the data overwhelmed the author
As some one who in their job has to consider the impact of financial crime and anti-money laundering (and not just anti-terrorist financing), I believe the importance of books like this cannot be under-estimated. Allowing the decline of financial banking systems by recycling the proceeds of crime plus inadequate international controls allowing the transfer of the proceeds of kleptocracy governments (the Abacha administration in Nigeria being the main one covered here) and causing the destruction of their domestic eceonomies, has a real domino effect on the robustness of the global economy.

The book covers all the main signposts and cases seen in recent years and so in terms of content is spot on for the historical aspects. The core problem and why this book fails as a good read or a primer for action is the author comes across as totally overwhelmed by the material. Chapter after chapter seems an attempt to brain dump all the data he has read in his research on the specific subject. This is demonstrated by each chapter relying heavily on a few key government papers or Reports of Enquiry. The consequence is a very piecemeal style of writing and the fact that so many chapters have numerous references to content in other chapters shows a lack of order and discipline in compiling and blending the themes and overall story.

As a general background read and primer to the subject it is fine though for people who do not encounter such financial crime and laundering in their work, better use of some simple examples and diagrams to explain the scams would I think have helped considerably, especially on the use of cross border flows and sham structures.

The book by the end is heavy on case data especially Citibank who come out very badly in their actions over the years but light on how effective the many checks and balances put in by regulators since 9/11 especially could be applied to work better. One cannot help but feel the current regimes in many countries will only catch the small fry and the incompetent and a radical rethink is needed. The end story of how the Irish republic government has applied different tactics relying on extracting money and assets off the crooks than putting them in jail initially is one of the few cases I have seen of such a rethink to date.

Author exposes global terrorism's economic engine
With huge swaths of the world's economy taking place in the black market, money laundering has turned into an intractable problemw with wide-ranging consequences. British journalist Nick Kochan offers an intriguing study of this shadowy world. He argues that laundering was an overlooked problem in the U.S. before the Sept. 11, 2001, attacks pushed the issue to the fore. Indeed, he says, Americans were oblivious to the effects of dirty money. Kochan details the sordid sagas of Russian gangsters, Colombian kingpins and corrupt Mexican bankers. At times, his broad approach hinders his prose, and his examples aren't always as compelling as they should be. Still, we recommend this eye-opening study to anyone who deals with the global movement of money. ... Read more

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European Money Trails examines trends in organized crime across Europe, including money laundering methods and the mechanisms and instruments used to conceal the disposal of the proceeds of crime. These are then related to the risks posed to criminals by law enforcement, leading to an analysis of changes in patterns of criminal organizations.
By drawing on primary and other authoritative sources, Savona provides a report on national experiences of criminal organization unavailable elsewhere. It will prove especially useful to policymakers and users, as well as scholars looking to understand the criminal dynamics that underlie sophisticated, international offending. ... Read more

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A ball of hot money rolls around the world. It seeks anonymity and political refuge. It dodges taxes and sidesteps currency controls. It rolls through offshore shell companies and secret bank accounts, phoney charities and fraudulent religious foundations. It is kept rolling by white-collar criminals, gun-runners, drug dealers, insurgent groups, scam artists, tax evaders, gold and gem smugglers, and, not least, secret service agents plotting coups and financing revolutions. R.T. Naylor explains the origins of this pool of hot and homeless money, its origins, its uses and abuses, how the world of high finance, corporate and governmental, became hostage to it, and the price the world is paying and will continue to pay until the hostages are released.This book was one of the first, and remains the most comprehensive, to dissect the world of offshore finance, capital flight, money laundering, and tax evasion. Once a subject of concern principally to tax authorities and finance ministries, since the September 11, 2001 hot and homeless money has now become a central preoccupation for police forces and intelligence services around the world. ... Read more

Customer Reviews (1)

Excellent, even if "grand unification" theme is suspect
This is a book every single US Senator and Representative should read.

The title derives from the reality that illicitly gotten funds create their own momentum as the funds are laundered throughout the world, creating interest, mayhem, and leaving 3rd world countries (preyed upon for weak financial regulations) struggling under massive debt they didn't really incur. ... Read more

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With the globalisation of finance and the speed of electronictransactions, the world's leading nations are waging the battle againstthe money laundering activities of organised criminal organisations andterrorists. The highlights of the book include an exclusive interviewwith former Italian Prime Minister Giulio Andreotti by leading organisedcrime journalist Antonio Nicaso, whose arrest and trial brought theissue of organised crime to the attention of the world. In addition, thesystem of money laundering used to finance global terrorist networks,the "Hawala," is examined in great depth by leading financial crimejournalist, Lee Lamothe. ... Read more

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There will be 33 jurisdictions covered in the new edition as opposed to 27 covered in the 2nd edition. The new jurisdictions will be: Bermuda Brazil BVI China India New Zealand UAE Ukraine Puerto Rico ... Read more

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The International Chamber of Commerce's world-renowned Institute of World BusinessLaw, where legal and business experts convene, has devoted an entire publication to money laundering and other forms of corruption: "Arbitration: Money Laundering, Corruption and Fraud."This important Dossier focuses both on the nature of the problemand the lawyer/arbitrator's response to it. This is the first in a series of ICC Institute Dossiers. (See also Arbitration and Oral Evidence and Parallel State and Arbitral Procedures in International Arbitration.)Answers to key questions:This useful text contains the proceedings of a conference on arbitration and money laundering organized by the ICC Institute of World Business Law. It brings the reader the expertise of lawyers, academicians and chartered accountants from a range of countries and addresses the key questions arbitrators and legal practitioners want answered: "Is thearbitrator's role in a case of fraud different from his role in other disputes?" "Is the arbitrator bound to report a case of money laundering or fraud if he has a suspicion thatsomething is wrong?" "Is counsel to report someone coming to him for advice?"A practical text:The Dossier gives a comprehensive overview of the issues. It begins with a look at the nature of the problems lawyers and other professionals face and the solutions they adopt in their daily business. The second part of the book concentrates on the problems raised for arbitrators by money laundering, fraud and bribery. The book ends with a detailed Q&A discussion section. ... Read more

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(Commonwealth Secretariat)A macro and micro-level guide to combating money laundering in the financial sector, both for individual institutions, and the financial system at large. Deals with global issues, strategies and standards, national issues and strategies, and financial sector procedures. British-oriented. Softcover. ... Read more

Customer Reviews (1)

Concisely written
Although relatively short at only 140-odd pages, this was one of the best AML books back in 2002.It is concisely written and takes the reader through the history of the anti-money laundering effort, the current best practices in the field, and some descriptive case reviews. The book is written in an expanded outline style, which, along with a detailed table of contents, makes referencing specific sections very easy.

Since 2002, much has been added to the library of money laundering and terrorist financing. This book, however, would still be a good place for someone new to the field to start with. ... Read more

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At the request of the Financial Crimes Enforcement Network (FinCEN), an agency of the U.S. Department of the Treasury, RAND conducted and analyzed a strategic decisionmaking exercise to examine money laundering concerns raised by the deployment of cyberpayment systems. Participants in the exercise represented the Executive Branch, the cyberpayment and banking industries, Congress, and academia. The tasks of the exercise were to (1) describe current cyberpayment concepts and systems; (2) identify an initial set of cyberpayment characteristics of particular concern to law enforcement and payment system regulators; (3) identify major issues cyberpayment policies will need to address; and (4) array appropriate recommendations to address potential system abuse in a set of proposed action plans. While it is premature to draft a comprehensive regulatory regime for cyberpayment products, participants agreed that prompt collaborative action by industry and government--and among governments--is needed. Dialogue on standards, regulatory transparency, and vigorous surveillance can prevent the criminal exploitation of cyberpayment system vulnerabilities. ... Read more

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In the transmittal letter to President Reagan of this first interim report of the President’s Commission on Organized Crime, originally published in 1984, the Chairman states: “...the members of the Commission and I have become increasingly dismayed by the virtual impunity with which organized criminal enterprises and their members and affiliates “launder” the proceeds of their illegal activities through financial institutions in this country and abroad.” ... Read more

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The free movement of capital and payments within the EU and between the EU and third countries is an essential component in establishing the internal market in financial services.
L This work provides an expert and practical analysis of the Treaty framework governing free movement of capital and payments, covering the definition of capital payments, the prohibition of restrictions on free movement, together with the permitted exceptions, derogations and safeguard measures. The provisions are considered in the context of other EU Treaty provisions and the international environment. The author also addresses the increasingly complex EU framework for combating money laundering. ... Read more

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This work presents a comparative study of the provisions relating to insider dealing under the EC Insider Dealing Directive. The volume begins with a discussion of the rationale for regulating financial services in general and controlling insider dealing and money-laundering in particular. It then goes on to examine the definition of an insider and of inside information and the various criminal offenses relating to insider dealing. The role of money-laundering is also recognized and the anti-money laundering regime as well as the considerable impact on the financial sector are discussed in detail. The work assess the efficacy of criminal law in controlling insider dealing and considers the increasing trend to deal with it by means of civil/administrative measures. ... Read more