Money Laundering : Particular Crimes

Money Laundering

Offshore Jurisdictions: Part One Trouble in Paradise
Alasdair McLean of Lexpert

The most recent estimates from the United States Treasury Department calculate that approximately US$8 trillion resides in the 45-plus recognized "offshore" jurisdictions that circle the globe.
Anti-Money Laundering Initiatives Under the USA Patriot Act
Bruce G. Leto,Bibb L. Strench and Thomas R. Phillips of Stradley Ronon Stevens & Young, LLP

Title III of the USA PATRIOT Act, known as the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, focuses on the anti-money laundering initiatives and includes several provisions that will have a direct impact on the investment management industry.
Venture Capital Funds Need to Focus on Anti-Money Laundering Issues
T. Hale Boggs and Perpetua B. Tranlong of Manatt, Phelps & Phillips, LLP

Section 352(a) of the USA Patriot Act requires the U.S. Department of Treasury to direct every "financial institution" to establish an anti-money laundering (AML) program. At this time, Treasury has not yet imposed AML regulations on venture capital, private equity and hedge funds, but has indicated it will review and likely impose AML regulations on the venture capital industry by the end of October.