CONTENTS
Terms of Reference
SUMMARY
CHAPTER 1: INTRODUCTION
What is money laundering?
Box 1: Money laundering offences
The processes and techniques
Terrorist financing
Our inquiry
Structure of this report
CHAPTER 2: THE FORA FOR INTERNATIONAL
COOPERATION
The international strategy
Box 2: International strategy
The Financial Action Task Force (FATF)
Terrorist financing
Box 3: FATF Special Recommendations on Terrorist
Financing
FATF-style regional bodies
Transparency
Accountability
Cooperation at EU level
EU Agreement with the United States
The Council of Europe
The Warsaw Convention on Money Laundering
and Terrorist Financing
United Nations Cooperation
Sanctions and human rights: the UN and
EU dimensions
Financial Intelligence Units and FIU.NET
CHAPTER 3: CONFISCATION OF THE PROCEEDS
OF CRIME
Civil recovery
Box 4: Warsaw Convention, Article 23(5)
CHAPTER 4: THE PRIVATE REGULATED SECTOR
Customer due diligence (CDD)
Box 5: Customer due diligence measures:
a summary
Suspicious Activity Reports (SARs)
The "all crimes" approach
Box 6: FATF Recommendation 1 (extract)
Consultation with the private sector
Feedback
Cost/benefit analysis
Box 7: Law Society estimate of cost/benefit
of SARs
Is the burden on the private sector disproportionate?
Third country equivalence and simplified
customer due diligence
The effect on the private regulated sector
The position of third countries
Non-cooperative countries and territories
(NCCTs): enhanced CDD
Box 8: FATF counter-measures against
non-cooperative countries
CHAPTER 5: CURRENT THREATS
Alternative remittance systems
The Payment Services Directive
The global economic crisis
Piracy
Ransoms and the financing of terrorism
Consent to the payment of a ransom
The SARs database: data protection issues
CHAPTER 6: SUMMARY OF CONCLUSIONS AND
RECOMMENDATIONS
The fora for international cooperation
The Financial Action Task Force (FATF)
Cooperation at EU level
The Council of Europe
United Nations Cooperation
Financial Intelligence Units and FIU.NET
Confiscation of the proceeds of crime
Civil recovery
The private regulated sector
Suspicious Activity Reports (SARs)
Consultation with the private sector
Feedback
Cost/benefit analysis
Is the burden on the private sector disproportionate?
Third country equivalence and simplified
customer due diligence
Non-cooperative countries and territories:
enhanced customer due diligence
Current threats
Alternative remittance systems
The global economic crisis
Piracy
The SARs database: data protection issues
Conclusion
APPENDIX 1: Sub-Committee F (Home Affairs)
APPENDIX 2: Call for Evidence
APPENDIX 3: List of Witnesses
APPENDIX 4: The FAFT Forty Recommendations:
a Summary
APPENDIX 5: List of Acronyms and Abbreviations
APPENDIX 6: Recent Reports
Note: References in the text of the Report are as
follows:
(Q) refers to a question in oral evidence
(p) refers to a page of written evidence
The Report of the Committee is published in Volume
I, HL Paper 132-I.
The Evidence of the Committee is published in Volume
II, HL Paper 132-II
MINUTES OF EVIDENCE - VOLUME II (HL 132-II)
WRITTEN EVIDENCE - VOLUME II (HL 132-II)
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