Author: Doug Hopton
ISBN No: 9780 566 09157
Review date: 16/12/2025
No of pages: 0
Publisher: Gower
Year of publication: 11/09/2012
Brief:
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If you have a duty to recognise money laundering – and it’s not just banks – you have to spot it in all its guises, writes an author and practitioner in an updated guide to the subject.
Doug Hopton said: “Too often we have looked at money laundering from the aspect of what we expect it to look like, rather than by reference to what it actually is. Numerous cases have come to light where employees have failed to identify relationships in which property has been laundered, simply because what happened did not match with what they had been taught to expect such activity to look like."
As pointed out in the first edition, reviewed in our June 2006 issue, the Money Laundering Regulations 2003 extended the range of businesses covered by the Proceeds of Crime Act to include solicitors, lawyers, estate agents and, in effect, all companies involved in consultancy or business services. Hopton, as a former head of group fraud and money laundering prevention at Barclays, takes the reader through the laws, the whats and hows; customer due diligence; and reporting.
