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In declaring the war against terrorism President George W. Bush also declared war on the financing of terrorism. The call to arms has been complemented by a concerted effort world-wide to track down and freeze the assets of suspected terrorists and financial institutions have risen to these challenges over the last year contributing their expertise gathered mostly through techniques to combat money laundering. In this book bankers, regulators and academics pose a variety of questions from their individual perspectives: To what extent are new laws really new? What can financial institutions realistically contribute to the suppression of terrorist financing? Can individual rights be protected in these circumstances? These questions are analysed by experts who come up with some thought provoking answers.
List of contents
Editorial: The Financing of Terrorism - Criminal and Regulatory Reform.- Editorial: The Financing of Terrorism - Criminal and Regulatory Reform.- Articles.- Globalization, Terrorist Finance, and Global Conflict: Time for a White List?.- How Can Sound Customer Due Diligence Rules Help Prevent the Misuse of Financial Institutions in the Financing of Terrorism?.- Financing of Terrorism - A Predicate Offence to Money Laundering?.- Obstacles in Company Law to Anti-Money Laundering International Co-Operation in European Union Member States.- Terrorist Finance, Money Laundering and the Rise and Rise of Mutual Evaluation: A New Paradigm for Crime Control?.- Financing of Terrorism: Following the Money.- Documentation.- FATF Cracks Down on Terrorist Financing.- FATF Special Recommendations on Terrorist Financing.- Financial Action Task Force Guidance for Financial Institutions in Detecting Terrorism.- International Convention for the Suppression of the Financing of Terrorism.- Council Common Position of 27 December 2001 on the Application of Specific Measures to Combat Terrorism.- Council Common Position of 27 December 2001 on combating terrorism.- Customer Due Diligence for Banks.- Wolfsberg Group Pledges Anti-Terrorism Support.- The Suppression of the Financing of Terrorism - Wolfsberg Statement.
Summary
In declaring the war against terrorism President George W. Bush also declared war on the financing of terrorism. The call to arms has been complemented by a concerted effort world-wide to track down and freeze the assets of suspected terrorists and financial institutions have risen to these challenges over the last year contributing their expertise gathered mostly through techniques to combat money laundering. In this book bankers, regulators and academics pose a variety of questions from their individual perspectives: To what extent are new laws really new? What can financial institutions realistically contribute to the suppression of terrorist financing? Can individual rights be protected in these circumstances? These questions are analysed by experts who come up with some thought provoking answers.
