Research and Analysis
An Overview of the UN Conventions and Other International Standards Concerning Anti-Money Laundering and Countering the Financing of Terrorism
A practical compendium of the various international laws and standards on anti-money laundering/counter-financing of terrorism, thematically arranged.
United Nations Office on Drugs and Crime, Global Programme against Money Laundering.
(Reviewed January 2007; first compiled in February 2004)
International Narcotics Control Strategy Report (INCSR), 2008
A global assessment of illicit drug-control and money laundering activities in more than 140 countries. Released by the Bureau for International Narcotics and Law Enforcement Affairs, U.S. Department of State, Washington, DC,
1 March 2008.
Part I covers drug and chemical control activities.
Part II covers money laundering and financial crimes.
FATF Terrorist Financing Report
A study that examines how terrorists raise funds and the methods they use for moving funds around. Report by the Financial Action Task Force on Terrorist Financing.
29 February 2008.
Money Laundering and Terrorist Financing Typologies 2004-2005
Analysis of trends in money laundering and terrorism financing. Report by the Financial Action Task Force on Money Laundering.
10 June 2005.
Money Laundering Typologies 2003-2004
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French]
Analysis of trends in money laundering. 2003-2004 Report by the Financial Action Task Force on Money Laundering.
02 July 2004.
An Overview of the UN Conventions and the International Standards Concerning Anti-Money Laundering Legislation
A practical compendium of the various international laws and standards on anti-money laundering/counter-financing of terrorism, thematically arranged. February 2004, United Nations Office on Drugs and Crime, Global Programme against Money Laundering.
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Chinese]
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Spanish]
Money Laundering and Related Issues in Turkmenistan (August 2002).
The third of five Central Asia briefings from the Global Programme against Money Laundering Central Asia Study Project, this report examines trends in money laundering and related crimes in Turkmenistan, and analyses national and regional responses, including the current legislation.
Money Laundering and Related Issues in Uzbekistan (June 2002).
The second of five Central Asia briefings from the Global Programme against Money Laundering Central Asia Study Project, this report examines trends in money laundering and related crimes in Uzbekistan, and analyses national and regional responses, including the current legislation.
Money Laundering and Related Issues in Kazakhstan (June 2002).
The first of five Central Asia briefings from the Global Programme against Money Laundering Central Asia Study Project, this report examines trends in money laundering and related crimes in Kazakhstan, and analyses national and regional responses, including the current legislation.
Russian Capitalism and Money-Laundering.
A study by the Global Programme against Money Laundering, Office for Drug Control and Crime Prevention, Vienna, Austria; reviews the problem of money laundering in the Russian Federation in connection with the aspects of economic reforms and development trends in the country that may have fostered this crime. Published in Vienna
March 2001.
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Russian]
An Overview of Australia's Anti-Money Laundering Strategy
Released May 2000
Report of Minority Staff of the Permanent Subcommittee on Investigations Report on Correspondent Banking: A Gateway for Money Laundering
Summary
U.S. banks, through the correspondent accounts they provide to foreign banks, have become conduits for dirty money flowing into the American financial system and have, as a result, facilitated illicit enterprises, including drug trafficking and financial frauds. Correspondent baking occurs when one bank provides services to another bank to move funds, exchange currencies, or carry out other financial transactions. Correspondent accounts in U.S. banks give the owners and clients of poorly regulated, poorly managed, sometimes corrupt, foreign banks with weak or no anti-money laundering controls direct access to the U.S. financial system and the freedom to move money within the United States and around the world.
This report summarizes a year-long investigation by the Minority Staff of the U.S. Senate Permanent Subcommittee on Investigations, under the leadership of Ranking Democrat Senator Carl Levin, into correspondent banking and its use as a tool for laundering money. It is the second of two reports compiled by the Minority Staff at Senator Levin's direction on the U.S. Banking system's vulnerabilities to money laundering. The first report, released in November 1999, resulted in Subcommittee hearings on the money laundering vulnerabilities in the private banking activities of U.S. banks.
February 5, 2001
Requests for copies can be mailed to:
Permanent Subcommittee on Investigations,
193 Russell Senate Office Building,
Washington, D.C. 20510
U.S. Senate Hearing:
Private Banking and Money Laundering: A Case Study of Opportunities and Vulnerabilities
Summary
In November 1999, the Permanent Subcommittee on Investigations, of the Governmental Affairs Committee of the U.S. Senate, held two days of hearings on the vulnerability of private banks to money laundering. The hearings culminated a year-long investigation led by Senator Carl Levin, D-Mich., the senior Democrat on the Subcommittee. The hearing report contains the hearing transcripts, a lengthy staff report summarizing the investigation (page 872), statements by experts, banks and regulators, and hundreds of pages of original documents.
Private banking is a growing banking sector providing services to wealthy individuals. In exchange for returns of 20 to 25%, private banks offer clients a high degree of secrecy, their own private banker, and a wide array of services for managing their wealth, typically including offshore accounts, secret trusts, shell companies, and multi-million-dollar wire transfers -- the same tools used by money launderers. The hearing report examines four case histories in detail, taken from private bank accounts managed by Citibank, the largest bank in the United States and operator of one of the largest private banks in the world. The report looks at how Citibank Private Bank operated, and how Citibank and bank regulators oversaw its activities. Testimony is taken from Citibank CEO John Reed and several private bankers. The four case histories examine accounts belonging to senior government officials or their relatives, and highlight the vulnerability of U.S. private banks to funds tainted by foreign corruption.
November 9 and 10, 1999
Requests for copies of the hearing record can be mailed to:
Permanent Subcommittee on Investigations,
193 Russell Senate Office Building,
Washington, D.C. 20510
Financial Havens, Banking Secrecy and Money Laundering.
A study prepared on behalf of the United Nations under the auspices of the Global Programme against Money Laundering, Office for Drug Control and Crime Prevention; Vienna, Austria. Authored by Messrs. Jack A. Blum, Michael Levi, R. Thomas Naylor and Phil Williams; Final report printed
December 1998.
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Evaluation of Laws and Systems in FATF Members Dealing with Asset Confiscation and Provisional Measures.
An analysis of FATF members regarding laws and systems in relation to confiscation and provisional measures, both under their domestic systems and pursuant to international mutual legal assistance. Modified:
19 June 1998.
Money Laundering: the Importance of International Countermeasures.
Brief summary of the macroeconomic impacts of money laundering and an overview of the IMF's related work. Address by Michel Camdessus, Managing Director of the International Monetary Fund, at the Plenary Meeting of the Financial Action Task Force on Money Laundering. Paris,
10 February 1998.
Countering Money Laundering.
A comparative analysis of major international conventions against money laundering. Background paper prepared by the United Nations Secretariat for distribution at the second informal open-ended inter-sessional meeting (held in Vienna, 7-9 October 1997) in preparation for the General Assembly Special Session devoted to the fight against the illicit production, sale, demand, traffic and distribution of narcotic drugs and psychotropic substances and related activities.
15 August 1997. (Original: English).
Control of the Proceeds of Crime.
An overview of the problems associated with the proceeds of crime, examined from the perspective of Governments. The United Nations Economic and Social Council, Commission on Crime Prevention and Criminal Justice (Fifth Session, May 1996), Report of the Secretary-General.
3 April 1996.
Money Laundering: Muddying the Macroeconomy.
"Money laundering can have devastating economic consequences. Fighting it should be a priority for all countries and is not incompatible with financial market liberalization." Article based on a 1996 study by the author, Peter J. Quirk,
Macroeconomic Implications of Money Laundering, IMF Working Paper 96/66 (Washington: International Monetary Fund).
Estimates of the Extent of Money Laundering in and through Australia.
Prepared for the Australian Transaction Reports and Analysis Centre by John Walker Consulting Services,
September 1995.
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