The past fifteen years witnessed the emergence globally of a plethora of legislative measures aimed at countering money laundering. These developments have been inextricably linked with the growing international focus on newly perceived and/or prioritised global security threats such as organised crime and terrorism ¿ with money laundering counter-measures deemed essential to counter these threats. Taking these developments into account, this book examines in detail the evolution and content of money laundering counter-measures in the European Union. These measures constitute a new paradigm of security governance, achieved through three principal methods: criminalisation, consisting in the emergence of new criminal offences; responsibilisation, consisting in the mobilisation of the private sector to co-operate with the authorities in the fight against money laundering; and the emphasis on the administration of knowledge, through the establishment of new institutions, the financial intelligence units, with extensive powers to administer a wide range of information provided by the private sector. This paradigm may pose significant challenges to fundamental legal principles and to well-established social structures and the book attempts to address this balance. This up-to-date analysis includes the provisions of the new EU money laundering Directive which was formally adopted in December 2001.
Preface and Acknowledgements, Introduction Chapter One: The
Reconceptualisation of Security in the International Arena and its Legal
Impact: The Case of Measures against Transnational Organised Crime 1.
(In)security 2. Threats and beyond: reconceptualising security in the
risk society 3. The securitisation of organised crime: the threat and
the measures to counter it 4. The challenges of ‘security’ measures
against organised crime to fundamental legal principles—national experiences
5. Organised crime and the emergence of a transnational security field:
new actors and global measures Chapter Two: The Securitisation of Money
Laundering: The Phenomenon, the Threat and the Evolution of Counter-measures
at the International Level 1. The phenomenon 2. The strategy 3.
The blurring of boundaries and the securitisation discourse 4. Threat
and counter-measures: the case of the United States 5. The
‘securitisation’ of money laundering in the international arena:
criminalisation and confiscation 6. The securitisation of money
laundering in the international arena: 7. Concluding remarks Chapter
Three: Money Laundering Counter-measures in the European Union: History,
Content and Evolution 1. The 1991 Directive: Background 2. The 1991
Directive: the content 3. Extending the application of the Directive
beyond the European Union 4. Extending the provisions of the Directive:
background 5. The negotiations: the main issues 6. The finally
adopted text: the 2001 money laundering Directive Chapter Four: Security
Governance through Criminalisation: The EU Money Laundering Offences 1.
Introduction 2. Money laundering as an ancillary offence 3.
Interest protected by law 4. Actus reus 5. Mens rea 6.
The special case of legal fees 7. Burden of proof 8. Predicate
offences 9. Liability of legal persons 10.Conclusion Chapter
Five: Security Governance through Responsibilisation: The Imposition of Duties
on the Private Sector 1.Introduction 2. The banker–customer
relationship prior to the money laundering Directive: bank confidentiality
3. Professional confidentiality in bank supervision: the EC framework
4. The change: the duties of credit and financial institutions under the
1991 Directive 5. The extension of the duties to other professions by
the 2001 Directive: the case of the legal profession 6. The emergence
of ‘responsibilised’ citizens: active citizenship as security governance
Chapter Six: Security Governance through the Administration of Knowledge: The
Emergence of Financial Intelligence Units in the European Union 1.General
2. Categorisation 3. International co-operation 4.
Developments in the European Union 5. The challenges for human rights
6.Conclusion Conclusion, Bibliography, Index