Money Laundering

Doug Hopton was with the Barclays Bank Group for over 37 years before setting up DTH Associates Ltd, the consultancy he runs on financial crime prevention. For 24 years he worked in group internal audit, involved in fraud investigation and compliance worldwide with anti-money laundering legislation. He was for many years Head of Group Fraud and Money Laundering Prevention and was the Barclays Group Money Laundering Reporting Officer. He was also chairman on the Mainstream Banking Advisory Panel of the UK Joint Money Laundering Steering Group and a member of the former HM Treasury Money Laundering Experts Group.

Chapter Introduction to Money Laundering -- The Money Laundering Process -- Terrorism and Terrorist Financing -- Chapter 2 International Development of Law and Regulation -- Financial Action Task Force (FATF) -- European Union -- Vienna Convention -- Palermo Convention -- Basel Committee on Banking Regulations and -- Practice -- Offshore Group of Banking Supervisors -- Financial Stability Forum Offshore Financial -- (OFCs) -- Commonwealth Secretariat -- United Nations -- International Monetary Fund and the World Bank -- Paris Convention -- The Wolfsberg Principles -- Egmont Group -- Chapter 3 Financial Action Task Force (FATF) -- Membership of FATF -- The FATF Forty Recommendations -- Non-Co-operative Countries and Territories (NCCT) List -- FATF Nine Special Recommendations -- Typologies -- Chapter 4 European Directives -- First Directive -- Second Directive -- Third Directive -- Future Directives -- Chapter 5 US Legislation -- US Patriot Act -- Chapter 6 UK Legislation -- The Development of Legislation -- Industry Guidance -- Chapter 7 Proceeds of Crime Act 2002 – Part 7: Requirements -- Offences -- Money Laundering Requirements of the Act -- Definitions and Interpretations -- Defences -- ‘Regulated Sector’ Offences -- Pre-Event Disclosures -- ‘Tipping Off’ -- Chapter 8 Proceeds of Crime Act 2002 – Other Areas -- Part 8 – Investigations -- Part 2 – Confiscation -- Part 1 – Assets Recovery Agency -- Bribery and Corruption -- Chapter 9 Terrorism Act 2000 – Requirements and Offences -- Financial Sanactions -- Chapter 10 Money Laundering Regulations 2007 -- Policies and Procedures (Regulations 20) -- Application of Customer Due Diligence (Regulation 7) -- Exceptions (Regulation 13) -- Record-keeping (Regulation 19) -- Internal Reporting Procedures (Regulation 20) -- Casinos (Regulation 10) -- Shell Banks, Anonymous Accounts etc. (Regulation 16) -- Reliance (Regulation 17) -- Chapter 11 How to Implement in Practice the UK -- Laundering Legislation and Regulations – -- Review -- Culture -- Customer Due Diligence (CDD) -- References -- Further reading -- Index -- Know Your Business (KYB) -- Record-keeping -- Reporting Requirements -- The Role of the Money Laundering Reporting Officer -- Employee Awareness and Training -- Chapter 12 Customer Due Diligence (CDD) -- What is ‘Customer Due Diligence’ -- What is a Customer? -- How Do You Undertake CDD? -- Politically Exposed Persons (PEPs) -- Beneficial Owner -- Ongoing CDD -- Chapter 13 Record-keeping -- CDD Undertaken by a Third Party -- Chapter 14 Reporting Requirements -- When to Report -- How to Report -- Consent -- Legal Privilege -- Chapter 15 The Role of the Money Laundering Reporting -- (MLRO) -- Chapter 16 The Money Laundering Reporting Officer’s -- Report -- Chapter 17 Awareness and Training -- Awareness -- Training -- Appendix 1: Relevant Persons -- Appendix 2: Regulation 13 -- Appendix 3: Meaning of Customer Information -- Appendix 4: Terrorism Act 2000 as amended by the Anti-Terrorism, -- and Security Act 2001 -- Appendix 5: The Forty Recommendations -- Appendix 6: Special Recommendations on Terrorist Financing