Money laundering law : forfeiture, confiscation, civil recovery, criminal laundering, and taxation of the proceeds of crime

In the past twenty years action in respect to the profits of crime has moved rapidly up the criminal justice agenda. Not only may confiscation orders be made, but there are also now serious substantive criminal offenses of laundering the proceeds of crime. Moreover, the consequences of the regulatory regimes put in place by the Money Laundering Regulations 1993 and the Financial Services Authority are very significant. This book examines critically the history, theory and practice of all these developments, culminating in the Proceeds of Crime Act 2002, which marks another step in the move towards greater concentration both on the financial aspects of crime and on the internationalization of criminal law. The Act puts in place the Assets Recovery Agency which will be central to the strategy of targeting criminal monies and will have power to bring forfeiture proceedings without a prior criminal conviction and to raise assessments for taxation. In the past twenty years action in respect of the profits of crime has moved rapidly up the criminal justice agenda. Not only may confiscation orders be made, but there are also now serious substantive criminal offences of laundering the proceeds of crime. Moreover, the consequences of the regulatory régimes put in place by the Money Laundering Regulations 1993 and the Financial Services Authority are very significant. This book examines critically the history, theory and practice of all these developments, culminating in the Proceeds of Crime Act 2002, which marks another step in the move towards greater concentration both on the financial aspects of crime and on the internationalisation of criminal law. The Act puts in place the Assets Recovery Agency, which will be central to the strategy of targeting criminal monies and will have power to bring forfeiture proceedings without a prior criminal conviction and to raise assessments to taxation. The author subjects the law of laundering, especially the novel aspects of the Proceeds of Crime Act itself, to thorough analysis and a human rights' audit. Contents: Introduction; The Economics of Money Laundering; Theory: Justifications for Forfeiture, Confiscation, and Criminalisation; History of Forfeiture and Confiscation Provisions; The International Dimension; Forfeiture Provisions; Statutory Confiscation Provisions; Investigatory Powers; Beyond Confiscation - Criminalisation; Acquisition and Deployment of Money for Terrorism; Confiscation without Conviction - 'Civil Recovery'; Money Laundering and the Professions Preliminaries......Page 1 Preface and Acknowledgements......Page 5 Contents......Page 7 1 Introduction......Page 43 2 The Economics of Money Laundering......Page 71 3 Theory Justifications for Forfeiture Confiscation and Criminalisation......Page 87 4 History of Forfeiture and Confiscation Provisions......Page 113 5 The International Dimension......Page 131 6 Forfeiture Provisions......Page 151 7 Statutory Confiscation Provisions......Page 165 8 Investigatory Powers......Page 211 9 Beyond Confiscation Criminalisation......Page 223 10 Acquisition and Deployment of Money for Terrorism......Page 257 11 Confiscation Without Conviction Civil Recovery......Page 265 12 Money Laundering and the Professions......Page 297 Conclusion......Page 315 Index......Page 317 This book critically examines the history, theory and practice of the past twenty years developments of the legal mechnisms, culminating in the Proceeds of Crime Act 2002, which marks another step in the move towards greater concentration both on the financial aspects of crime and on the internationalisation of criminal law. The Act puts in place the Assets Recovery Agency, which will be central to the strategy of targeting criminal monies and will have power to bring forfeiture proceedings without a prior criminal conviction and to raise assessments to taxation. The author subjects the law of laundering, especially the novel aspects of the Proceeds of Crime Act itself, to an analysis and a human rights' audit 1. Introduction -- 2. The Economics Of Money Laundering -- 3. Theory: Justifications For Forfeiture, Confiscation And Criminalisation -- 4. History Of Forfeiture And Confiscation Provisions -- 5. The International Dimension -- 6. Forfeiture Provisions -- 7. Statutory Confiscation Provisions -- 8. Investigatory Powers -- 9. Beyond Confiscation -- Criminalisation -- 10. Acquisition And Deployment Of Money For Terrorism -- 11. Confiscation Without Conviction -- 'civil Recovery' -- 12. Money Laundering And The Professions. Peter Alldridge. Includes Bibliographical References And Index. Since 1980, action in respect of the profits of crime has moved rapidly up the criminal justice agenda. This book examines critically the history, theory and practice of such development, culminating in the Proceeds of Crime Act 2002 This book subjects the law of laundering to theoretical critique and to a human rights' audit