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2016 | OriginalPaper | Buchkapitel

1. Introduction and a Short History

verfasst von : Peter Alldridge

Erschienen in: What Went Wrong With Money Laundering Law?

Verlag: Palgrave Macmillan UK

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Abstract

Criminals acquire property by or from their crimes. That is why they do it. It would be good if they could be stopped from enjoying the property and, if instead it was able to be acquired by the State and put to good use, building hospitals and schools or even paying for policing, prosecution, and prisons. It would be better yet if the additional policing effort that was involved could come at no cost to the taxpayer because it was subsumed into the general running expenses and corporate governance procedures of major financial institutions. It would be marvellous if one of the effects of stopping criminals enjoying the property they acquire would be to deter them or others from committing crimes. These simple considerations gave rise to money laundering law. They also gave rise to a crime—money laundering—and a bureaucracy—the Anti-Money Laundering (AML) industry—both of which have grown rapidly and in unforeseen ways.

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Nächstes Kapitel Impacts upon Substantive Laundering Law

Cabinet Office Performance and Innovation Unit, Recovering the Proceeds of Crime (London: Cabinet Office, 2000), Fig. 9.1 shows the numbers of prosecutions in England and Wales to be 80, 50, and 115 for 1997, 1998, and 1999, respectively, with convictions hovering around 40. The figures for 2000 show 16 convictions from 73 prosecutions for drug money laundering and 23 convictions from 45 prosecutions for other crimes. HL Debates 25 June 2002 Col 1320 (Lord Falconer). HL European Union Committee, 19th Report, Money Laundering and the Financing Of Terrorism (2009) Supplementary memorandum (1) by the Crown Prosecution Service (CPS), Annex A states that the figures for prosecutions and convictions in England and Wales for the years after the enactment of POCA are as follows:

Year	Proceeded against	Convicted	Sentenced
2003	300	123	119
2004	552	207	205
2005	1,327	595	575
2006	2,379	1,273	1,244
2007	2,318	1,348	1,322

Recorded crime figures for 2014 are (Criminal Statistics Table A4: Police recorded crime by offence, 2002/2003 to year ending December 2014 and percentage change between year to December 2013 and year to December 2014) for 2010/2011, 2011/2012, 2012/2013, 2013/2014 respectively 2,344, 1,779, 1,427, 1,485 (a reduction in police reports).

A Nexis search on 4th July 2014 in the UK Broadsheets Library for the word ‘laundering’ gave the following numbers of occurrences for each of the named newspapers.

	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013
Independent	92	86	149	118	81	104	87	105	93	133	153	91	182	109	111	162	189	143	93	58	71	59	71	274	136
Times	124	79	95	56	53	95	105	77	88	88	215	106	217	181	169	200	226	229	207	132	238	162	182	494	428
Guardian	59	60	125	107	64	99	83	110	125	117	166	121	170	127	105	142	163	127	165	113	139	108	119	178	186
Daily Mail	0	0	0	64	42	21	83	4	56	84	99	52	68	67	49	94	87	188	161	89	66	63	63	174	153
FT Business	0	0	0	0	0	0	0	0	0	0	0	0	140	86	69	60	32	45	33	25	23	25	26	59	49

Consider even the Oxford English Dictionary (Oxford: OUP, 3rd edition, 2010) definition of ‘money laundering’: ‘the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses: he was convicted of money laundering and tax evasion.’

High Bridge Entertainment, Gran Via Productions, Breaking Bad, Season 3, Episode 9 (2010).

Note that Saul will be in danger of being held liable for an offence only if attorney–client privilege can be broken down—which means (on lines similar to the English Law authorities, following R v Cox & Railton (1884) 14 QBD 153) that there must be evidence outside the file that the lawyer was complicit.

In the sense used by Dworkin (Dworkin, Ronald, Taking Rights Seriously (London: Duckworth, 1977) 23 et seq) of Riggs v Palmer (1889) 12 American St Rep 819.

‘The Proceeds of Crime Act 2002 is concerned with the forfeiture to the State of proceeds of crime. The Act provided no clear steer for the scope and application of the common law principle ex turpi causa non oritur actio in a civil action for negligence and breach of duty’: Sharma (As Former Liquidator of Mama Milla Ltd) v Top Brands Ltd [2015] EWCA Civ 1140, para 48, a judgement inviting the Supreme Court to look at the illegality defence.

FHR European Ventures LLP and others v Cedar Capital Partners LLC [2014] UKSC 45; [2015] AC 250.

R v Registrar General, ex parte Smith [1991] 2 QB 393 at 402.

Part 7 of the Coroners and Justice Act 2009 introduced ‘Exploitation Proceeds Orders’ to deal with profits from the publication of memoirs, films and so on.

And see Dunbar v Plant [1998] Ch 412; [1997] 4 All ER 289.

Brought into force, after some wrangling, in 2011. Prisoners’ Earnings Act 1996 (Commencement) (England and Wales) Order 2011 SI 1658.

Gordon v Chief Commissioner of the Metropolitan Police [1910] 2 KB 1080.

R (on the application of Best) v Chief Land Registrar [2015] EWCA Civ 17; [2015] CP Rep 18. See Goymour, Amy, ‘Squatters and the Criminal Law: Can Two Wrongs Make a Right?’ (2014) 73 Camb LJ 484–487.

This account is used in cash forfeiture cases. See, eg, R (on the application of Mudie) v Dover Magistrates' Court [2003] EWCA Civ 237; [2003] QB 1238 (Laws LJ at para 29, citing Butler v United Kingdom (2002) Application 41661/98).

HL Debates, 22 July 2002, col 49.

Armory v Delamirie (1722) 1 Strange 505; 93 ER 664.

Webb v Chief Constable of Merseyside [2000] 1 QB 427; [2000] 1 All ER 209, dealing with a claim by the police to hold on to property of suspect provenance, when the person from whom it was seized could show possession.

HL Debates, 25 June 2002, col 1234.

HL Debates, 25 June 2002, col 1236.

Reading v Attorney-General [1951] AC 507, Blake v Attorney-General [2000] UKHL 45; [2001] 1 AC 268.

Levi, Michael, ‘Qualitative research on elite frauds, ordinary frauds, and “organized crime.”’ in (Copes, Heith & J Mitchell Miller eds.) The Routledge Handbook of Qualitative Criminology (2015) 215.

And see below, page 61 et seq.

Husak, Douglas, ‘The Criminal Law as Last Resort’ (2004) 24 Oxford Journal of Legal Studies 207–235. Husak, Douglas, Overcriminalization (Oxford: Blackwell Publishing Ltd, 2008). Ashworth, Andrew, ‘Conceptions of Overcriminalization’ (2008) 5 Ohio State Journal of Criminal Law 407.

R v Cuthbertson, below fn 38.

Powers of Criminal Courts (Sentencing) Act 2000 ss 130–133.

See below, page 14.

Briman Properties Limited v Barclays Bank Limited & Anor, Standfield Properties Ltd v National Westminster Bank [1978] EWCA Civ J1130-1 (CA (Civ)) at 3.

Duke, Steven B and Albert C Gross, America's Longest War: Rethinking our Tragic Crusade against Drugs (NYC, New York: Putnam, 1993).

Presidential Commission on Organized Crime, Interim Report, The Cash Connection (Washington DC: 1984) 63.

Money Laundering Control Act 1986 (US) Public Law 99-570 18 US Code § 1956.

The development of US law in this area is set out at http://www.fincen.gov/news_room/aml_history.html.

The United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988).

Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime (1990), International Convention for the Suppression of the Financing of Terrorism (1999), United Nations Convention against Transnational Organized Crime (Palermo, 2000), UN Convention against Corruption (2003).

Things might have gone the other way: Home Office Advisory Committee on Drug Dependence, Hallucinogens Sub-Committee, Report on Cannabis (1969) (The Wootton Report) had proposed a more permissive régime.

Alldridge, Peter, ‘Dealing with Drug Dealing’ in (Simester, AP & ATH Smith eds) Harm and Culpability (Oxford: Oxford University Press, 1996) 239–257.

R v Cuthbertson [1981] AC 470.

Hodgson, Derek, Profits of Crime and their Recovery (London: Heinemann, 1984).

S 14.

And see Roberge, Ian, ‘Financial Action Task Force’ in Hale, Thomas and David Held, Handbook of Transnational Governance: New Institutions and Innovations (Cambridge: Polity, 2011), 45–50., Hülsse, Rainer, ‘Creating Demand for Global Governance: The Making of a Global Money-laundering Problem’ (2007) 21 Global Society 155–178.

See Alldridge, Peter, ‘The Moral Limits of the Crime of Money Laundering’ (2002) 5 Buffalo Criminal Law Review 279.

For discussion of this aspect see—HL European Union Committee,19th Report, Money Laundering and the Financing Of Terrorism (2009) Oral Evidence, 1 April 2009, Q327 et seq.

International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation—the FATF Recommendations FATF February 2012, replacing the previous 40 + 9 (the 9 being counter-terrorist ‘special recommendations’ added after 9/11).

Gray, Larissa, Kjetil Hansen, Pranvera Kirkbride, and Linnea Mills, Stolen Asset Recovery in OECD Countries (Washington DC: World Bank Publications, 2014).

Gill, Martin and Geoff Taylor, ‘Preventing Money Laundering or Obstructing Business? Financial Companies’ Perspectives on ‘Know Your Customer’ Procedures’ (2004) 44 British Journal of Criminology 582.

Passas, Nikos, ‘Terrorism Finance: Financial Controls and Counter-Proliferation of Weapons of Mass Destruction’ (2012) 44 Case W Res J Int'l L 747–955.

Rawlings, Gregory and Jason Sharman, ‘National Tax Blacklists: A Comparative Analysis’ (2006) 29 Law and Policy 51–66.

For a sympathetic view see Tsingou, Eleni, ‘Money Laundering’ in Daniel Mügge (ed.) Europe and the Governance of Global Finance (Oxford: OUP, 2014).

First Money Laundering Directive, 1991/308/EEC.

Bingham (chair), Inquiry into the Supervision of the Bank of Credit and Commerce International (HC 198, 1992).

Reuter, Peter and Edwin Truman, Chasing Dirty Money: The Fight against Money Laundering (Washington, DC: Institute for International Economics, 2004) 45.

Passas, Nikos, ‘Structural sources of international crime: policy lessons from the BCCI affair’ (1993) 20 Crime, Law and Social Change 293; MLL, 36–38.

Connor, John M, ‘Big Bad Banks: Bid Rigging and Multilateral Market Manipulation’ in Hawk, Barry E, (ed.) International Antitrust Law and Policy: Fordham Competition Law 2014 Vol. 41 (Huntington, NY: Juris Publishing, 2015) 213.

See below, page 49.

First Money Laundering Directive (1991/308/EEC); Second Money Laundering Directive (2001/97/EC); Third Money Laundering Directive (2005/60/EC); Fourth Money Laundering Directive (EU) 2015/849.

Money Laundering Regulations 1993 SI 1933; Money Laundering Regulations 2003 SI 3075; Money Laundering Regulations 2007 SI 2157.

That is, those concerned with record-keeping, KYC, internal reporting and so on.

Directive 2014/42/EU. And see below, page 65.

Garland, David, ‘The Limits of the Sovereign State: Strategies of Crime Control in Contemporary Society’ (1996) 36 British Journal of Criminology 445–471.

Cabinet Office Performance and Innovation Unit, Recovering the Proceeds of Crime (London: Cabinet Office, 2000).

HC Debates, 30 October 2001, col 758 (John Denham MP, Minister for Police, Courts and Drugs).

Home Office, Asset Recovery Action Plan (2007).

And see Unger, Brigitte et al., The Amounts and the Effects of Money Laundering, Report for the (NL) Ministry of Finance (Amsterdam: Ministry of Finance, 2006).

See, for example, Waya and Ahmad, below, page 70.

https://www.unodc.org/unodc/en/money-laundering/globalization.html, accessed 14th October 2014.

National Strategic Assessment of Serious and Organised Crime (London: NCA, 2014), 12.

National Audit Office, Confiscation Orders (HC 738, 2013–2014), page 4.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/317533/2014-06-03_signed_IA_POCA.pdf.

The English law definition of ‘criminal conduct’ for the purposes of the laundering offences (POCA s 340(2)) does not extend to other countries’ exchange controls.

Carsten Volkery, ‘Cyprus Bailout Talks Stalled: Money Laundering Accusations Could Delay Aid’, Der Speigel English edition 12 November 2012 : http://www.spiegel.de/international/europe/money-laundering-accusations-could-stall-aid-to-cyprus-a-865580.html; accessed 14 October 2014, and Halliday, Terence, Michael Levi, Peter Reuter, Global Surveillance of Dirty Money (Chicago IL: Centre for Law and Globalization, 2014), para 7. The same sorts of accounts are given, for example, of Indian money in Mauritian, or French money in Belgian and Luxembourgeois banks.

‘David Cameron to take action on ‘dirty money’ in UK property market’, Financial Times, 28th July 2015.

‘Cash from Crime Lords drives up house prices’, The Times, 25th July 2015.

The Guardian, 27th September 2000.

Gordon, Richard, ‘A Tale of Two Studies: the Real Story of Terrorism Finance’ (2014) 162 U Pa LR 269–283, responding to Baradaran, Shima, Michael Findley, Daniel Nielson & Jason Sharman, ‘Funding Terror’ (2014) 162 U Pa LR 477.

And see Middleton, David, ‘Lawyers and Client Accounts: Sand through a Colander’ (2008) 11 Journal of Money Laundering Control 34.

Middleton, David and Michael Levi, ‘Let Sleeping Lawyers Lie: Organised Crime, Lawyers and the Regulation of Legal Services’ (2015) 55 British Journal of Criminology 647–668.

HM Government, Serious Organised Crime Strategy (London: TSO, 2013) paras 2.5 and 2.6 (italics added).

George Osbourne, HC Debates, 18 March 2015, cols 771–772.

Recorded instances are now around 650K per annum, a 60% reduction from a peak in the early 1990s around 1.6M: Office for National Statistics, Statistical bulletin: Crime in England and Wales, Year Ending March 2014 (London: Stationery Office, 2014).

Theft Act 1968 s 22. See, eg, R v Gabriel [2006] EWCA Crim 229; [2007] 2 Cr App R 11 and R v Stanley [2007] EWCA Crim 2857 (defendant had dropped off a skip, knowing that it was to be used for a criminal purpose, and others had filled it with large manufacturing tools they had stolen). It is easier to prove ‘suspicion’ as to the provenance of the property than belief (which Theft Act 1968 s 22 requires).

R v GH [2015] UKSC 24; [2015] 1 WLR 2126 at para 49, citing R (on the application of Wilkinson) v Director of Public Prosecutions [2006] EWHC 3012 (Admin) and R v Rose [2008] EWCA Crim 239, [2008] 1 WLR 2113, para 20).

Room, Robin, ‘Legalizing a market for cannabis for pleasure: Colorado, Washington, Uruguay and beyond’ (2014) 109 Addiction 345–351.

Coleman, Kathryn, Seizures of drugs in England and Wales, 2012/13, Home Office Statistical Bulletin 04/13.

Office for National Statistics, Key Annual Trend and Demographic Tables—Crime in England and Wales, Year Ending March 2014. It may be that fashion and the widespread availability of ‘legal highs’ also contributes.

Verhage, Antoinette, The Anti Money Laundering Complex and the Compliance Industry (Abingdon: Taylor & Francis, 2011).

And see von Lampe, Klaus ‘Organized Crime: Analyzing Illegal Activities, Criminal Structures, and Extra-legal Governance’ (London: Sage, 2015).

And see Maugeri, Anna Maria, ‘Criminal Sanctions against the Illicit Proceeds of Criminal Organisations’ (2012) 3 New J Eur Crim L 257.

S 45. Those convicted of the offence face up to 5 years' imprisonment and a new ASBO-style civil order restricting their travel and associations (s 51).

The figure is from a Home Office press release, quoted without demur in The Guardian, 3 June 2014.

Campbell, Liz, ‘Organized Crime and National Security: A Dubious Connection?’ (2014) 17 New Criminal Law Review 220–251.

Serious Crime Act 2015 s 45(6) offers a definition: ‘Organised crime group’ means a group that—(a) has as its purpose, or as one of its purposes, the carrying on of criminal activities, and (b) consists of three or more persons who act, or agree to act, together to further that purpose.

See Ramsay, Peter, The Insecurity State: Vulnerable Autonomy and the Right to Security in the Criminal Law (Oxford: Oxford University Press, 2012). Ashworth, Andrew and Lucia Zedner, 'Prevention and Criminalization: Justifications and Limits' (2012) 15 New Criminal Law Review 542.

See the account of Yukos, below, page 82.

The issue would turn on the meaning of the word ‘purpose’ in s 45.

After the attacks on the USA, Tony Blair stated repeatedly that 90 % of heroin sold in Britain was of Afghan origin. (Labour Party conference, 2 October 2001; ‘Air Strikes on Afghanistan: Prime Minister’s Speech’, The Independent, 8 October 2001; HC Debates, 8 October 2001 cols 814 & 821). The conceptual differences were, however, made clear by the Chancellor of the Exchequer, Gordon Brown, HC Debates 15 October 2001, col 943.

Zagaris, Bruce, ‘Financial Aspects of the War on Terror: the merging of the Counter terrorism and the Anti-Money Laundering Regimes’ (2002) 34 Law and Policy in International Business 45.

Wolosky, Leo and Stephen Heifetz, ‘Financial Aspects of the War on Terror: Regulating Terrorism’ (2002) 34 Law and Policy in International Business 1.

Page 15 above.

100

Terrorism Act 2000 as amended ss 15–22A.

101

Terrorism Act 2000 ss 23–31.

102

Pursuant to UNSCR 1373 (2001).

103

Council Regulation (EC) No 2580/2001 of 27 December 2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism.

104

Terrorism (United Nations Measures) Order 2006 SI 2657 and the Al-Qaida and Taliban (United Nations Measures) Order 2006 SI 2952.

105

HM Treasury v Ahmed & Ors [2010] UKSC 2; [2010] 2 AC 534.

106

Terrorist Asset-Freezing (Temporary Provisions) Act 2010 Al-Qaida and Taliban (Asset-Freezing) Regulations 2010 SI 1197.

107

Terrorist Asset-Freezing &c Act 2010. Al-Qaida (Asset-Freezing) Regulations 2011 SI 2742.

108

Above, page 102.

109

Under Schedule 7 to the Counter-Terrorism Act 2008 as amended by the Terrorist Asset-Freezing &c Act 2010.

110

Terrorist Asset-Freezing &c Act 2010 s 1.

111

Kadi v European Commission (T-85/09) [2011] All ER (EC) 169; [2011] 1 CMLR 24; And see Kadi v Council of the European Union (C-402/05 P)[2009] 1 AC 1225; [2010] All ER (EC) 1105.

112

Léonard, Sarah, and Christian Kaunert, ‘“Between a Rock and a Hard Place?”: The European Union’s Financial Sanctions against Suspected Terrorists, Multilateralism and Human Rights’ (2012) 47 Cooperation and Conflict 473–494; Van den Broek, Melissa, Monique Hazelhorst & Wouter de Zanger, ‘Asset Freezing: Smart Sanction or Criminal Charge?’(2011) 27 Utrecht J Int Eur L 18–27.

113

Section 18 creates an offence of circumventing or attempting to circumvent the prohibitions in the preceding sections. It is a clear violation of the principle of legality.

114

Powers of Criminal Courts (Sentencing) Act 2000 s 143.

115

Council Regulation (EU) No.833/2014.

116

Iran (Restrictive Measures) (Overseas Territories) Order 2012 SI 1756.

117

http://hmt-sanctions.s3.amazonaws.com/sanctionsconlist.htm.

118

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/411231/2014Q4-WMS.pdf.

119

Walker, Clive, Terrorism and the Law (Oxford: OUP, 2011).

120

And see King, Colin and Walker, Clive, ‘Counter Terrorism Financing: A Redundant Fragmentation?’ (2015) 6 New Journal of European Criminal Law 372–395.

121

OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, Paris, 17 December 1997 (Cm 3994); United Nations Convention Against Corruption (2006).

122

Bribery Act 2010.

123

Without significant changed results. There has only yet (October 2015) been one conviction from an SFO bribery prosecution (R v West and Stone, Southwark CC, December 2014), and a number of the recent bribery prosecutions have been for betting scams which might better have been charged under Gambling Act 2005 s 42. See, eg R v Amir (Mohammad) R. v Majeed, and R v Westfield [2012] EWCA Crim 1186; [2012] 2 Cr App R 18. Others (R v Patel (Munir) [2012] EWCA Crim 1243; [2013] 1 Cr App R (S) 48) are the kinds of (local government) cases which would have been prosecuted prior to the Act.

124

In other cases defendants are being allowed to buy off the possibility of a guilty verdict. For instance, in August 2014, Bernie Ecclestone entered into an agreement with prosecutors in Munich to compromise bribery charges. Deferred Plea Agreements have been introduced in England and Wales for this purpose (Crime and Courts Act 2013 Schedule 17), At the time of writing (March 2016) only one has been entered into SERIOUS FRAUD OFFICE v STANDARD BANK PLC (NOW KNOWN AS ICBC STANDARD BANK PLC) [2016] Lloyd’s Rep. FC 91.

125

Chaikin, David and JC. Sharman, Corruption and Money Laundering: A Symbiotic Relationship (Palgrave Series on Asian Governance) (London: Palgrave Macmillan, 2009).

126

OECD http://www.oecd.org/cleangovbiz/toolkit/moneylaundering.htm.

127

Financial Action Task Force, Laundering the Proceeds of Corruption (July 2011), available at http://www.fatf-gafi.org/dataoecd/31/13/48472713.pdf. And see Jakobi, Anja, ‘OECD activities against money laundering and corruption’ in (Martens, K & AP Jakobi eds.), Mechanisms of OECD governance. International incentives for national policy-making? (Oxford: Oxford University Press, 2010) 139–160.

128

A predicate offence is the offence that gives rise to the property the subject matter of the laundering.

129

The history is dealt with in Alldridge, Peter & Mumford, Ann, ‘Tax Evasion and the Proceeds of Crime Act 2002’ (2005) 25 Legal Studies 353.

130

Enterprise Act 2000 s 251.

131

The history is dealt with in Alldridge, Peter & Mumford, Ann, ‘Tax Evasion and the Proceeds of Crime Act 2002’ (2005) 25 Legal Studies 353.

132

Naylor, RT, Counterfeit Crime Criminal Profits, Terror Dollars, and Nonsense (Montreal/Kingston: McGill-Queens University Press, 2015) at 110 et seq.

133

And see Alldridge, Peter, ‘Tax Avoidance, Tax Evasion, Money laundering and the problem of “Offshore”’ in (Lagunes, Paul & Susan Rose-Ackerman eds.), Greed, Corruption and the Modern State: Essays in Political Economy. (Cheltenham: Edward Elgar, 2015) 317–335.

134

And see Young, Mary Alice, Banking Secrecy and Offshore Financial Centres: Money Laundering and Offshore Banking (London: Routledge, 2012).

135

Verhage, Antoinette, The Anti Money Laundering Complex and the Compliance Industry (Abingdon: Taylor & Francis, 2011) is one of a number of commentators to develop a functionalist account of the industry. ‘This new army of anti-money-laundering specialists can also command higher rates, with some contractors earning as much as £1,500 a day; a rise of 17 per cent, according to BrightPool, a recruiter that compiled the data.’ Caroline Binham, ‘Banks step up hiring of anti-money laundering specialists’, Financial Times, 18 August 2014.

136

The National Crime Agency publishes an annual Annual Report on Suspicious Activity Reports (SARs). The statistics for the most recent years are set out in Edmonds, Tim, Money Laundering Law (HC Briefing Paper Number 2592, 2015), page 17, rising from 240K in 2010 to 354K in 2014. Cases like Crédit Agricole Corporation and Investment Bank v Papadimitriou [2015] UKPC 13 amplify the effect.

137

Finance (No 2) Act 2015 part 3. And see Neidle, Dan, ‘The Diverted Profits Tax—Flawed by Design’ [2015] BTR 147–166; Baker, Philip, ‘The Diverted Profits Tax- A Partial Response’ [2015] BTR 167–171.

138

See above fn. 72, and ‘Alarm bells ring as 'dirty cash' floods UK property market’, Financial Times, 15th September 2015.

139

This is around the amount gathered in a year from all confiscation orders. See above, page 24.

140

In 2012, Michael Shanly pleaded guilty to tax evasion worth £430,000 in connection with the HSBC Swiss list. Fines and costs of £460,000 were imposed. http://www.bbc.co.uk/news/business-18713483.

141

The Guardian, 14th April 2015.

142

The Guardian, 2nd June 2015.

143

The Guardian 4th June 2015.

144

Hodge, Margaret (Chair), Public Accounts Committee Tax avoidance and evasion: HSBC Evidence (HC 1095, 2015); HM Treasury, Tackling tax evasion and avoidance (Cm 9047, 2015).

145

Banks were found to have rigged the interest rate to which many financial transactions are pegged. The first criminal proceeding in England was in May–August 2015: R v Hayes [2015] EWCA Crim 1944). Further defendants were subsequently acquitted. ‘Jury acquits five of six brokers in Libor trial’ Financial Times January 27, 2016.

146

In 2015 various banks were fined huge amounts of money by regulators for rigging the foreign exchange markets: ‘Barclays fined $2.4 billion for forex rigging’ Financial Times, 20 May 2015.

147

The consortium produced a map of the world with jurisdictions proportionate in size to the deposits held in HSBC Suisse. See http://www.martingrandjean.ch/swissleaks-map/.

148

Queen’s Speech: Bill by Bill. http://www.bbc.co.uk/news/uk-politics-32898443. The Immigration Bill (Bill 74) contains provisions creating the crimes of working illegally and employing workers illegally (clauses 8 and 9) impose obligations upon the prosecutor to the prosecutor must consider whether to ask the court to commit the person to the Crown Court with view to confiscation order being considered).

149

Below, page 88.

Titel: Introduction and a Short History
verfasst von: Peter Alldridge
Verlag: Palgrave Macmillan UK
Buch: What Went Wrong With Money Laundering Law?
Print ISBN: 978-1-137-52535-2

Electronic ISBN: 978-1-137-52536-9

Copyright-Jahr: 2016
DOI: https://doi.org/10.1057/978-1-137-52536-9_1