Methods of Money Laundering: Circumventing Anti-Money Laundering Mechanisms

About this book:

Methods of Money Laundering is primarily concerned with demonstrating money laundering methods and how easily existing money laundering prevention mechanisms can be circumvented. This much-needed book provides the first in-depth explanation of the methods used by intelligent criminals to amass wealth from large-scale trafficking in drugs, arms, and human beings, as well as from less odious crimes. Exploring the methods of money laundering from the viewpoints of suspected criminals and compliance experts, the aim is to anticipate the behaviour of educated and intelligent money launderers so that legislative measures can be taken to respond to these approaches. Ultimately, this paper argues that money laundering prevention is not a panacea against (organized) crime. The methods of circumventing money laundering prevention measures presented in this monograph intend to show that money can still be easily laundered despite the numerous steps that have been taken to combat money laundering

What’s in this book:

Based on qualitative interviews with alleged criminals and prevention experts, the study examines whether compliance experts believe in the effectiveness of the money laundering prevention measures and provides original insights by accompanying the presented findings with relevant quotations. The author thoroughly documents such aspects of money launderers’ behaviour as the following:

• resources required;
• dealing with detection risks; and
• international mobility.

The author explicitly addresses different groups of practitioners and makes tailored recommendations beneficial for various professional groups, including bankers, prosecutors, defence lawyers, and judges.

How this will help you:

In its critical questioning of the logic behind anti-money laundering regulations and their costly implementation, the book demonstrates that either the existing measures of prevention are drastically tightened and extended to almost all branches of the economy or the financial sector is relieved of the burden it bears and alternative ways of fighting this type of crime are sought instead. It will prove enormously valuable to understanding and investigating white-collar and financial crime and be welcomed by practitioners and professionals in financial markets, banking, criminal lawyers, compliance experts, and academia.