A paper presented to
6th Law Asia Business Law Conference
7-8 October 2004
Kuala Lumpur Malaysia
The Anti Money Laundering Network
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You don’t need me to tell you that the cost-benefit equation of counter-money laundering laws and regulations is tipped way too far in the wrong direction, nor that the laws and regulations we have are onerous and infective, that the original plan, that ordinary people would watch out for dodgy activity and report it has been lost under a weight of bureaucracy.
You don’t need me to tell you that because you already know it.
The thing is, it’s a far from new problem. And supranational bodies, trade associations, legislators and regulators are hounding an already exhausted fox into a hole where the bites will cause irreparable harm, if they have not already done so.
Friday, 15 January, 2016 – 00:00
I woke this morning expecting to pack for a trip, do a few bits and pieces at work, put the data I need for travel onto a portable drive and clean the house so I don’t come back to a dump, all after enjoying the first cup of tar-like coffee that starts my day.
As usual, while the espresso machine was heating up, I turned looked at the overnight e-mails. There, right in plain view, was another example of why the internet needs a major clean up.
Essential Reading for money laundering and financial crime practitioners
The avoidance of fraud and money laundering in your organisation
First edition: 1996
Second edition: 1998
Second edition reprint ebook: 2010
Second edition reprint paperback: 2011
This book established Nigel Morris-Cotterill as a critical thinker and long-term strategist, explaining a comprehensive approach to help create systems and controls that would be stable and to not require constant change which is both costly and militates against the effectiveness of systems up and down organisations.