Banker as victim: an approach to money laundering prosecutions

Terrence F. Williams

Journal of Money Laundering Control, 2009, vol. 12, issue 1, 50-58

Abstract: Purpose - The purpose of this paper is to discuss a novel approach to money laundering prosecutions that focuses on the deception of bankers as opposed to the original provenance of the funds. Design/methodology/approach - Considers decided cases and the theoretical bases for “Know Your Customer” (KYC) and Customer Due Diligence (CDD). Findings - No examples were found of the approach outside of cases in the British Virgin Islands but firmly grounded in law. Practical implications - Provides an alternative basis for money laundering prosecutions. Originality/value - Prosecutors and investigators may find the approach useful and discussion on its use in other jurisdictions would be appreciated.

Keywords: Money laundering; Banking; Criminal justice (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:13685200910922642

DOI: 10.1108/13685200910922642

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