Table of Contents

Research Handbook on International Financial Crime

Research Handbook on International Financial Crime

Research Handbooks in Financial Law series

Edited by Barry Rider

A significant proportion of serious crime is economically motivated. Almost all financial crimes will be either motivated by greed, or the desire to cover up misconduct. This Handbook addresses financial crimes such as fraud, corruption and money laundering, and highlights both the risks presented by these crimes, as well as their impact on the economy. The contributors cover the practical issues on the topic on a transnational level, both in terms of the crimes and the steps taken to control them. They place an emphasis on the prevention, disruption and control of financial crime. They discuss, in eight parts, the nature and characteristics of economic and financial crime, the enterprise of crime, business crime, the financial sector at risk, fraud, corruption, the proceeds of financial and economic crime, and enforcement and control.

Chapter 41: The management of information in the context of suspected money laundering cases

Alan Bacarese, Kenneth Levy and Hari Mulukutla

Subjects: economics and finance, financial economics and regulation, law - academic, corruption and economic crime, finance and banking law


With the almost daily diet of news of failed banks, rigging of rates, tax evasion and complicity in money laundering the challenge for banks and financial institutions the world over is becoming starkly clear. As Sarah Dahlgren, head of the Financial Institution Supervision Group in the US, said recently, “We may be at a low point of confidence and trust between the public and the financial sector.” The combating of financial crime continues to occupy a high political profile, particularly in the wake of the economic crisis of the last few years and given the risks to the integrity of our financial systems. In this sense the banks and other financial institutions remain at the very centre of this fight against the twin evils of money laundering and terrorist financing – to which one can now add compliance with international sanctions. Although the crusade against financial crime is an ever moving target, requiring ever more resources and refocusing on the part of banks and others, a good deal of progress has been made by both the banks and also those who enforce the laws and regulate the industry. Despite the increased role of governments, law enforcement agencies and even civil society, the pressure remains largely on the banks, in an increasingly global and complex market, to retain the clearest perspective on the risks posed by their commercial activities.

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