Category Archives: 2007 Newsletter

Fraud prevention is very similar to having a good quality health insurance scheme in place. Just as the body may suffer aches and pains, the corporate world can suffer from changes in market or stakeholder demands; fall in shareholder confidence; … Continue reading →

The recently signed anti-money laundering decree was mainly intended to allow the continuation of the flow of funds to the Palestinian banks in the Gaza Strip via Israeli banks. Israel regulates this matter through both the Anti-Laundering law and the … Continue reading →

The Financial Intelligence Centre Act, 2001 (FICA) has introduced several mechanisms aimed at combating money laundering activities. FICA has established a regulatory framework designed to identify the source of proceeds which are suspicious and possibly derived from illegal activities. FICA … Continue reading →

The advent of new Money Laundering Regulations 2007 (the Regulations) in the UK will implement the EU’s Third Money Laundering Directive (the Directive). The Regulations, which will enter into force on 15 December 2007, require organisations falling with its scope … Continue reading →

Different methods of money laundering have appeared since the 1980s and criminals continue to find new ways of hiding the proceeds of their activities. It has therefore become necessary for legislation in Turkey to be amended in such a way … Continue reading →

The People’s Republic of China (China) became a full member of the Financial Action Task Force (FATF) on 28 June 2007, having first joined the FATF as an observer in January 2005. The FATF is an inter-governmental body formed in … Continue reading →

Background While money laundering, as a term, is relatively new to the statute books of most jurisdictions, the essence of money laundering is as old as crime itself. That essence is best expressed by “disguise”.

In the United States today, there is a growing demand for some form of government regulation over hedge funds (an oft-misused term that has come to mean to many Americans various types of private equity funds, many of which bear … Continue reading →