Banks and Financial Crime: The Law of Tainted Money »

William Blair is a leading QC specialising in the law of domestic and international banking and finance, including financial fraud and conflicts of law. He is a visiting Professor of Law at the London School of Economics. Richard Brent is a barrister at 3 Verulam Buildings specialising in commercial law, in particular banking and insurance law and their international and community law aspects. He is a former Fellow of St John's College, Cambridge and a F.R.Hist.S.

Financial crime is an important and topical area. Concerns over money laundering have grown considerably since links with terrorist organizations have become more apparent in recent years. This new book to provides banks and legal advisors with a practical and international guide to the issues surrounding banks and financial crime. It looks at the problems banks now face and the legal solutions required to remedy these.

The book starts by looking at what exactly financial crime is and how it happens, moving on to look at the international aspects of the law of tainted money.

The authors then examine aspects such as the regulatory responsibilities and private law duties of banks including their liabilities to third parties and their obligations to assist persons seeking the recovery of assets.

Issues such as substantive private law claims that banks may face are considered, particularly from the perspective of their customers and of victims of financial crime, where a bank has in its possession 'tainted money'. A comparative approach is taken with civil jurisdictions and US law.

The book concludes by considering possible future developments of the international law of tainted money, including coverage of any potential problems that are anticipated and a view on the likely effectiveness of such international law.

Table of Cities

Table of Legislation and Documents

I Introduction: Banks and Money Laundering

1 Introduction: Banks and Money Laundering Fred Hobson Hobson, Fred 3

II The International Law of Tainted Money

2 General Introduction: Some Problems Relating to the Role of International Law Richard Brent Brent, Richard William Blair Blair, William 33

3 International Legal Sources I - the United Nations Conventions Cheong-Ann Png Png, Cheong-Ann 41

4 International Legal Sources II - the UN Security Council Resolutions Cheong-Ann Png Png, Cheong-Ann 61

5 International Legal Sources III - FATF Recommendations Cheong-Ann Png Png, Cheong-Ann 87

6 International Legal Sources IV - the European Union and the Council of Europe Richard Brent Brent, Richard 101

III Public Obligations and Regulatory Responsibilities

A Offences

7 Money Laundering Offences under POCA 2002 Rudi Fortson Fortson, Rudi 155

8 The Terrorism Acts and Conspiracy Rudi Fortson Fortson, Rudi 203

B Sanctions and Regulatory Responsibilities

9 UK Sanctions Regimes Richard Brent Brent, Richard William Blair Blair, William 225

10 Regulatory Responsibilities Richard Brent Brent, Richard William Blair Blair, William 241

IV The Professions and Financial Crime

11 The Professions and Financial Crime Roger Masefield Masefield, Roger 279

V The Private Law of Financial Crime

12 Claims Arising under UK Private Law James Evans Evans, James 309

VI Financial Crime and Private International Law

13 Introduction Zachary Douglas Douglas, Zachary 337

14 Money Had and Received Zachary Douglas Douglas, Zachary 343

15 Knowing Receipt Zachary Douglas Douglas, Zachary 359

16 Dishonest AssistanceZachary Douglas Douglas, Zachary 371

17 Deceit Zachary Douglas Douglas, Zachary 385

18 Conspiracy Zachary Douglas Douglas, Zachary 393

VII Providing and Obtaining Assistance

A Providing Assistance

19 Investigations and Remedies under POCA 2002 Jonathan Peddie Peddie, Jonathan 405

20 Anti-Terrorism Legislation and Market Regulation Jonathan Peddie Peddie, Jonathan 437

B Obtaining Assistance

21 Judicial Cooperation Including Obtaining Evidence Jonathan Peddie Peddie, Jonathan 461

VIII The Future of the International Law of Tainted Money: Problems of Implementation and Effectiveness

22 The Future of the International Law of Tainted Money William Blair Blair, William Richard Brent Brent, Richard 475

Index 487