Money Laundering Links
The web site of the Financial Action Task Force on Money Laundering which is an essential place to visit. You will find the following:
• A full version of the FATF’s 40 recommendations
• Full copies of all of the FATF’s reports
• Latest news and press releases
• Details of international initiatives
Because of FATF’s European slant the information contained on this website provides a vital companion to data obtained from US government web sites. All reports and documents available in English and French.
The web site of the United States Office of the Comptroller of the Currency. It has good general information on the money laundering problem in the United States and you can download the very good summary paper “Money Laundering: A Banker’s Guide to Avoiding Problems” which includes details of US legislative and regulatory standards to deter money laundering. Additionally it has a good “Where to get more information” section detailing various official contact points within the US for money laundering information and/or reporting.
The United States Department of the Treasury Financial Crimes Enforcement Network Web site. It is an excellent site containing comprehensive information on the global fight against money laundering together with a timeline, a section on money in cyberspace and money in a borderless world. Additionally press releases are on-line and FinCEN advisory notices can be downloaded from the site. The Advisory Notices are particularly good providing detailed intelligence on global problem areas or trends. It is rare to say this in an age of information overload but the only criticism is that we could do with more Advisory Notices as they are excellent sources of information and warning.
Billy’s Money Laundering Information Web site, which is a private Web site solely concerned with with money laundering with no commercial angle. The webmaster, Billy Steel, seems just to have a keen interest in the subject. Providing an overview of the subject the site is very good. Topics covered include: A Brief History; What is Money Laundering?; How Big is the Problem?; The Money Laundering Process; Stages of the Process; Money Laundering Methods; How Can We Prevent It?; Effects on Financial Institutions; Business Areas Prone To Money Laundering; UK Legislation; Money Laundering Offences; International Initiatives; The Future; Conclusions and recommendations.
Relevant International Money Laundering Legislation
The Web site of the International Money laundering Information Network, which is run by the United Nations Office for Drug Control and Crime Prevention. Contains details of, and links to, current national AML legislation.
Pages on the FATF Web site that review its members’ compliance with the FATF’s recommendations and provide details of relevant national legislation.
The web site of the United States Office of National Drug Control Policy. This is yet another superb American Government site providing detailed information and data on US national drug control initiatives. The comprehensive search facility brings up at least 250 documents on the site which make reference to money laundering or cover the subject in depth. Additionally there are extensive lists of useful links on all areas of drug abuse.
The web site of the United Nations Office for Drug Control and Crime Prevention which contains information on the International Legal Framework, Crime Prevention, Drug Supply Reduction and Drug Demand Production. You can also download various publications and press releases. Whilst not specifically about money laundering per se the site has a good search facility and gives good background information about the global drug problem. This site is related to www.imolin.org.
The web site of the US State Department Bureau of International Narcotics and Law Enforcement Affairs. This is almost certainly the undisputed king of official web sites on drug and money laundering issues. If you want to know what problems exist in any country of the world detailed information is probably here. You can access press releases, key speeches, congressional testimonies and last but certainly not least the annual International Narcotics Control Strategy Report, which contains a separate and ever larger report on money laundering problems on a country by country basis. All recent reports are available on-line: but beware the reports increase in size the more up to date they become. That having being said there probably exists no better or more complete round up of illegal narcotics/money laundering on a country by country basis. If you are still unconvinced of the scale of the problem, visit this site print off an annual report, read it and then tell me there isn’t a major problem!
Quantifying the Amount of Money Laundering
A full version (as far as I am aware) of the thought-provoking paper by John Walker on the global extent of money laundering, calculating a total of $2.85 trillion.
See reference under ‘Relevant international money laundering legislation’ above – also has links to national money laundering FIUs.
The web site of AUSTRAC - the Australian Transaction Reports and Analysis Centre. Widely perceived as one of the most successful national bodies combating money laundering: whilst this web-site is fairly basic it contains a large volume of useful data including relevant legislation, past annual reports, newsletters and forms.
The CIA world factbook – provides key background information on each individual country.
The website of the Criminal Intelligence Service of Canada, which publishes annual reports on the scale, nature and extent of organized criminal activities in Canada.
The web site of the Nathanson Centre for the study of organized crime and corruption. This site contains a very good listing of links to other sites of relevance. Links detailed include: General sites on organized crime, Organized crime groups: Aboriginal, Asian, Chinese, Colombian, Italian, Japanese, Mexican, Nigerian, Motorcycle gangs, Russian, Vietnamese and Youth gangs; Organized crime activities: Alien smuggling, computer crimes, corruption, counterfeiting, money laundering, Narcotics trafficking, Narco-terrorism, Securities fraud, smuggling, Transnational organized crime; together with links to Organized Crime enforcement sites.
The web site of the Committee for a Safe Society which has a good organized crime set of links grouped under the following headings: Crime against women; Crime vs the environment; Money Laundering/Banking; Country sections; Maps; Anti-Crime Organizations and Reference and Research materials.
The web site of Transparency International, the global group dedicated to fighting corruption available in English, German, Spanish and French. This is not a site with that much money laundering information but the indices that Transparency International compile (such as the Bribe Payers Index and Corruption Perceptions Index) are important background information particularly on the level to which organized criminal activity has infiltrated a country.
The US Office of Foreign Assets Control – contains full details of all individuals and companies against which the United States has sanctions, including terrorists (note: the lists are mainly in PDF form, which on occasions makes loading them a tedious process).
A free search facility for the US OFAC lists, which appears to be very effective and removes the need to view PDF files in the entirety.
Complete listings of all sanctions in force by UK authorities
The current list of the FATF’s non-cooperative countries and territories.
The complete list of FinCEN advisory notices, specifically relevant to individual country risks.
Terrorism and Terrorist Financing
The website of the National Commission on Terrorist Attacks Upon the United States (the 9/11 commission) which includes a full version of the 9/11 commission report for download. This document demands to be read: not only for the detailed narrative of the attacks on the US in 2001 but also because it is expertly written and provides an excellent analysis of the background and development of Al-Qaeda.
The section of the US Department of Treasury's website covering Terrorism and Financial Intelligence. It provides details of the US Office of Foreign Assets Control (OFAC) actions together with various briefing papers on individual terrorist groups.
The website of the Search for International Terrorist Entities Institute, which provides comprehensive material and links covering numerous aspects of the problem.
Radio Free Europe/Radio Liberty’s website: you can subscribe here for a useful regular e-mail newsletter on organized crime and terrorist issues. Additionally you can download previous issues.
Global Witness's website which has a downloadable copy of the "For a Few Dollars More: How Al-Qaeda moved into the diamond trade" report referred to in Chapter 7.