Banks and Financial Crime

Financial crime is an important and topical area. Concerns over money laundering have grown considerably since links with terrorist organisations have become more apparent in recent years. This revised and updated new edition provides a guide for banks to their regulatory responsibilities, their private law duties, their liabilities to third parties and their obligations to assist persons seeking the recovery of assets (including regulatory bodies within and without the jurisdiction). It also sets the relevant law in its national and international policy context and assesses the current state of this body of law in that context. In the years following the publication of the first edition of Banks and Financial Crime the legal regime against money laundering, terrorist financing, and financial sanctions has not diminished in importance for financial institutions. Indeed, the reverse is the case. In 2012, HSBC paid US authorities a record fine of £1.2 billion for laundering billions of dollars; powers under existing legislation have been exercised for the first time; and there have been significant new developments at the international level. This second edition addresses recent practice under the main international conventions, including the Sixth Session of the Conference of the Parties to the UN Convention against Transnational Organized Crime (October 2012) and the forthcoming Fifth Session of the Conference of States Parties to the UN Convention against Corruption (November 2013). Throughout, the book has been updated to incorporate new developments at the international level; in statute and case law; and in the regulation of financial institutions. It also provides a further assessment of the extent to which there has emerged an international law of tainted money to complement the emergence of an international financial system.

Business · Conflict of laws · Context (archaeology) · Convention · Jurisdiction · Legislation · Money Laundering · Political science · Sanctions · Statute · Terrorism · Crime, Illicit Activities, and Governance · Finance · Law · Banking law · Commercial crimes · Criminal provisions · International law · law and legislation · Money · Money laundering