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: 1457