Author: Bhure Lal
Publisher: Siddharth
Year: 2003
Language: English
Pages: 262
ISBN/UPC (if available): 8172201516
Description
Money Laundering not only economically destabilizes a country but also exposes it to terrorists attacks threatening its integrity and sovereignty. This book gives an insight into various nefarious activities providing cover to slush funds through Money laundering and passing them as genuine money which has become a threat to many legitimately elected governments.
It conceals the huge, illegal profits generated by unscrupulous, organized criminal groups in the fields of drug trafficking, arms running and other filthy activities. The culture of these groups is criminogenic and they are regulatory resistant. They regard an earnest enforcing officer as an impediment in circumventing the regulatory regime. The criminals are transferring funds quickly at the speed of light across international borders. The Cyber-Laundering has provided them with a shield of anonymity.
Many banks, tax havens, offshore companies and trusts act on their behalf. Detecting, preventing seizing and confiscating proceeds of crime, occupied attention of the author since his Directorate of Enforcement days. International cooperation in investigation, extradition and confiscation is a prerequisite to succeed otherwise the enforcing agencies will be acting without jurisdiction. . If this menace is not put to end then activities like September 11, 2001 attack on world Trade Center and December 13, 2001 attack on Indian Parliament will be inevitable.
Contents
Preface
What is Money Laundering?
History of Money Laundering
How is Money Laundered?
Corruption at High Places and Money Laundering
Money Laundering and Terrorism
International Ramifications and Global Trends
The Walker Model on Global Money Laundering
International Fight Against Money Laundering
Magnitude, Macro and Micro Economy-
Effects of Money Laundering
Financial Action Task Force
Role of Technology
Role of Banks
The Capital Flight: Means and Effects
Hawala
Money Laundering Legislation in India