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These are just several topics which where discussed on the conference:
Progress or Paranoia?
Following the harrowing and tragic events of September
11 in New York, is the current frantic increase in activity to stop money
laundering paranoia? Or is it realistic progress based on foundations laid
in the past? Is money laundering really the basis on which world-wide terrorism
is empowered? Or are we over-reacting?
Money Laundering - the World Scene
Commonly known ways of laundering money through operations
involving tax, customs and other fraudulent activities. Creation of effective
systems to be implemented in various countries to stop money laundering.
The European Union
The EU's view and actions on money laundering.
FATF and the 'Black List'
FATF's (Financial Action Task Force) 'Black List'
of non-cooperative countries where banks are commonly known to be laundering
money.
* FATF's "Forty Recommendations to Prevent Money Laundering". Initiatives
taken by various regions and countries in fighting money laundering. What
measures are the most effective.
The Russian Example
Russia's moves taken to clear itself from the Black
List and steps taken to stop money laundering. Recent passing of the Federal
law on "Measures to Prevent Money Laundering in Russia". Banking reform
and self-regulatory measures in Russia.
Successful progress made against money laundering, as exemplified by the
Channel Islands.
International Cooperation
International experience of money laundering. International
conventions and agreements for the enforcement of measures to stop money
laundering. Signing of the Strasburg Convention of the Council of Europe;
the United Nations Vienna Agreement; Creation of the Egmont Group etc. gk.edwards@virgin.net
Endorsment of international laws and measures to prevent money laundering.
Ways of integrating cooperation between FATF, Interpol, the Egmont Group,
the British Financial Securities Authority and the Serious Fraud Office
and other national and international agencies and organisations in fighting
money laundering.
Creation of an international information database of money laundering cases
and agencies.
Action by Banks, Financial Institutions and others
Fiscal, administrative, self-regulatory and other
measures which can be taken to create an effective shield against money
laundering.
Suspicious activity reporting.
The Wolfsberg principals for the private banking sector.
Ways and means of monitoring and tracing clients' unusual and suspicious
activities. Information from independent sources: clients' contacts; inter-bank
information. Experience of western banks in trying to prevent money laundering.
Who in banks are responsible for the prevention and detection of money laundering:
e.g. compliance control departments, directors, etc.
Practical recommendations for measures which have to be implemented by commercial
banks to prevent money laundering.
Difficulties to be overcome
Examples of negative results when banks and state
organisations try the wrong way to prevent money laundering. The liabilities
of financial and state organisations when unlawful measures are taken.
Common problems in fighting money laundering effectively in the legal systems
of developed countries.
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