Author: Bhure LalPublisher: SiddharthYear: 2003Language: EnglishPages: 262ISBN/UPC (if available): 8172201516
Money Laundering not only economically destabilizes a country but also exposes it to terrorists attacks threatening its integrity and sovereignty. This book gives an insight into various nefarious activities providing cover to slush funds through Money laundering and passing them as genuine money which has become a threat to many legitimately elected governments.It conceals the huge, illegal profits generated by unscrupulous, organized criminal groups in the fields of drug trafficking, arms running and other filthy activities. The culture of these groups is criminogenic and they are regulatory resistant. They regard an earnest enforcing officer as an impediment in circumventing the regulatory regime. The criminals are transferring funds quickly at the speed of light across international borders. The Cyber-Laundering has provided them with a shield of anonymity. Many banks, tax havens, offshore companies and trusts act on their behalf. Detecting, preventing seizing and confiscating proceeds of crime, occupied attention of the author since his Directorate of Enforcement days. International cooperation in investigation, extradition and confiscation is a prerequisite to succeed otherwise the enforcing agencies will be acting without jurisdiction. . If this menace is not put to end then activities like September 11, 2001 attack on world Trade Center and December 13, 2001 attack on Indian Parliament will be inevitable.
PrefaceWhat is Money Laundering?History of Money LaunderingHow is Money Laundered?Corruption at High Places and Money LaunderingMoney Laundering and TerrorismInternational Ramifications and Global TrendsThe Walker Model on Global Money LaunderingInternational Fight Against Money LaunderingMagnitude, Macro and Micro Economy-Effects of Money LaunderingFinancial Action Task ForceRole of TechnologyRole of BanksThe Capital Flight: Means and Effects HawalaMoney Laundering Legislation in India