Lecture 2. An overview of money laundering and AML regime goals
Key words
· abetting
· abuse
· bribery
· conspiracy to commit
· conversion
· counseling
· criminal activity
· disbursement
· embezzlement
· facilitating
· ill-gotten
· illicit
· illicit trafficking (in something)
· intermediary
· legitimized
· offshore financial center (OFC)
· predicate offence
· proceeds
· remuneration
· shell company
· to conceal
· to disguise
· transfer
Key Questions
· Why would somebody desire to sponsor a criminal activity?
· List the different types of yield from the commissioning of a crime.
· What kind of intangible utility can someone derive from a crime?
· How can currency be reinvested into criminal activity?
· Why is it necessary to conceal an illicit origin of proceeds?
· What kind of techniques do criminals use when trying to disguise the origin of proceeds from crime?
· Why is it important to mask multiple financial transactions in the course of money laundering?
· What is a predicate offence? Why is it called designated?
· Which methods are being used to describe predicate offences?
· Name international conventions that cover specific predicate offences.
· List major designated categories of offences covered by the General glossary.
· List the articles of the Merida Convention which cover specific predicate offences.
· What does a criminal do when he launders money in the narrow sense?
· Describe the differences between money laundering definitions in part (a) of Art. 6 of the Palermo Convention.
· Which three actions with proceeds of crime will be qualified as money laundering in the broad sense?
· What is the difference between conversion and transfer of property?
· Compare different characteristics of criminal proceeds: nature, source, location, disposition and ownership rights.
· Is it fair to convict a person on money laundering charges for possession of proceeds of crime?
· Why is it necessary, for competent authorities, to keep in mind that a perpetrator had to know at the time of receipt, that property was proceeds of crime?
· List eight activities that constitute money laundering in the broad sense.
· Describe the hierarchy of an organized criminal group and list the main activities of its actors.
· Why are AML measures so important? Is it easier to convict criminals of commissioning predicate offences?
Date: 2015-01-29; view: 1293
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