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Pieth, Mark; Aiolfi, Gemma --- "A Comparative Guide to Anti-Money Laundering" (Edward Elgar Publishing, 2004) [2004] ELECD 121

Editor(s): Pieth, Mark; Aiolfi, Gemma

Title: A Comparative Guide to Anti-Money Laundering

Sub-title: A Critical Analysis of Systems in Singapore, Switzerland, the UK and the USA

Topics: Corruption and Economic Crime; Terrorism and Security

Publisher: Edward Elgar Publishing

Date of Publication: 28 September 2004

Number of pages: 488

ISBN (hard cover): 9781843766735

EISBN: 9781845421618

Abstract/Description:

All the major financial centres have experienced a rise in anti-money laundering rules and regulations. Initially, anti-money laundering laws were used as a weapon in the war on drugs, whilst more recently they have been deployed in the ongoing fight against terrorism. These developments, the authors reveal, have had serious consequences for banks and other financial institutions – affecting not only profit margins but also the way in which business is conducted.

Topical and pertinent issues addressed in this book include questions such as, has all the recent legislative activity really put a stop to the problem? Are the international rules being implemented as carefully as they should? How level is the playing field in cross border banking?

The regimes and implementation of anti-money laundering laws and regulations of four major, cross border, financial centres are also examined in depth: Switzerland, Singapore, the UK, and the USA. Going beyond the purely descriptive, there are comparative analyses of these countries against existing international standards – with illuminating results.

This new book is full of original insight and analysis and will be an invaluable resource for lawyers, both scholarly and practitioner based, with an interest in economic crime as well as policymakers and compliance officers within banks and other financial institutions.