Money laundering counter-measures in the European Union. A new paradigm of security governance versus fundamental legal principles

Abstract:

The detective's code in the pursuit of criminal theft has long been 'follow the money', but the increasing sophistication of organised crime - and alongside it the growth of international terrorism - has made the chase increasingly complex. New money-laundering activities require new counter-measures and in some instances these measures will challenge some fundamental legal principles and threaten well-established social structures. This work seeks to address the balance.

The book is organised over six chapters. Chapter one addresses the reconceptualisation of security in the international arena and its legal impact, examining the case for measures against transnational organised crime. Chapter two explores the securitisation of money laundering and discusses the phenomenon, the threat and the evolution of counter-measures at the international level. Chapter three looks at the history of money laundering counter-measures in the European Union and examines the content and the evolution of those measures. Criminalisation of money laundering has been an essential element in global anti-money laundering policy and this is explored in chapter four. The changing status of the banker-customer relationship and the responsibilities placed upon bankers in the fight against money laundering are examined in chapter five. The final chapter discusses the role of increased information exchange and the emergence of Financial Intelligence Units in the European Union.

The work will interest students, scholars and practitioners engaged in the fields of banking, business law and criminal law.