Typologies of Money Laundering Through the Real Estate Sector in West Africa PDF Download
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Author:
Publisher:
ISBN:
Category : Money laundering
Languages : en
Pages : 40
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Book Description
Author:
Publisher:
ISBN:
Category : Money laundering
Languages : en
Pages : 40
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Book Description
Author: Jeffrey R. Boles
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
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Book Description
South Africa operates as a major African financial center, with its robust banking and financial sector and significant cash-based market, and it consequently exposes itself as an attractive target for criminal activity generally and money laundering in particular. Long known as a money laundering hotspot, South Africa shows a low prosecution rate under its main anti-money laundering legislation. Former Finance Minister Trevor Manuel estimated in 2001 that between 2 billion and 8 billion US dollars are laundered through South African institutions annually. The South African real estate market in particular provides opportunities for criminals to launder their funds through purchasing and/or developing properties. Criminals can use the luxury real estate market in the Western Cape Province, for instance, to launder sizeable amounts of illicit funds through buying high-end properties via cash and offshore shell companies that hide their true owners, and the purchased real estate functions as the means to launder the criminal proceeds. Money laundering in real estate is a classic method of laundering money given that the funds can be hidden in real estate by multiple transactions cloaking the illicit source. This Article analyzes money laundering in the South African real estate sector, and in particular, “the darkest corner of the real estate market: all-cash purchases made by shell companies that often shield purchasers' identities,” and recommends specific initiatives that may help combat the offense in this sector.
Author: Kannan Subramanian
Publisher: Notion Press
ISBN: 1945497645
Category : Political Science
Languages : en
Pages : 344
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Book Description
"A guide that illustrates the methods, mechanisms, techniques and instruments to launder money and finance terrorism. It explains risk-based approaches to minimise the risk at the national level and for each sector of the eco-system. Mr. T.S. Krishnamurthy Former Chief Election Commissioner, Government of India; Former Chief Commissioner of Income Tax-Mumbai, India. This book not only examines thoroughly the problem in a comprehensive manner with interesting case studies but also provides governance measures to mitigate the evil. Kannan has rightly stressed the need for proper evidence gathering, domestic co-ordination of various agencies and international co-operation to deal with this global priority. His suggestion to implement a National Integrity System is worth the attention of a government. Dr S.Ramamurthy – Fiscal Management Expert, formerly with the IMF The book throws light on relevant methodologies and tools to mitigate the adverse impact of money laundering. It explains a risk-based approach to mitigate the risks at the entity and national levels. It is very valuable book to those practitioners combating money laundering and countering the financing of terrorism world-wide."
Author:
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ISBN:
Category : Electronic dissertations
Languages : en
Pages : 211
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Book Description
Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) -- Estate Agency Affairs Act (112 of 1976) (EAAA) -- Estate Agency Affairs Board (EAAB) -- Financial Action Task Force (FATF) -- Financial Intelligence Centre Act (38 of 2001) (FICA) -- Illicit funds/profits -- Money laundering -- Prevention of Organised Crime Act (121 of 1998) (POCA) -- Real estate sector.
Author:
Publisher:
ISBN:
Category : Money laundering
Languages : en
Pages : 104
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Book Description
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1513531247
Category : Social Science
Languages : en
Pages : 55
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Book Description
This paper discusses key finding of the Technical Assistance Report on Anticorruption and Anti-money Laundering in Mali. The report suggests that the adoption and effective implementation of an Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework compliant with the Financial Action Task Force (FATF) Recommendations would support the fight against corruption in Mali. Mali can improve the compliance of its AML/CFT framework with the FATF Recommendations by taking internal measures consistent with the West African Economic and Monetary Union directive. Mali can also work for the adoption of a regional AML/CFT framework consistent with the requirements of the FATF.
Author: Brigitte Unger
Publisher: Edward Elgar Publishing
ISBN: 9781781000915
Category : Business & Economics
Languages : en
Pages : 192
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Book Description
In many countries, the real estate sector is vulnerable to money laundering due to a high number of factors including; the high value of assets, price fluctuations and speculation within the market, difficulties in assessing the true value of a house, and the fact that the legal owner is not necessarily the economic owner. In this book, the authors identify a total of 25 characteristics which render a property susceptible to money laundering. The more such characteristics a property exhibits, the more suspicious it becomes. The authors also discover that some of these characteristics weigh heavier than others. Combining economic, econometric and criminological analysis, this multidisciplinary approach shows how to detect criminal investment in the real estate sector. This well-researched book will appeal to government authorities responsible for combating money laundering, international organizations such as the IMF, the UN, the Worldbank and the EU, as well as financial intelligence units in all countries. Real estate associations, real estate research centers, criminologists and economists will also find this book invaluable.
Author: Inter-Governmental Action Group against Money Laundering in West Africa
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 124
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Book Description
Author:
Publisher:
ISBN:
Category : Money laundering
Languages : en
Pages : 33
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Book Description
Author: Brigitte Unger
Publisher: Edward Elgar Publishing
ISBN: 9781849801263
Category : Money Laundering
Languages : en
Pages : 0
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Book Description
In many countries, the real estate sector is vulnerable to money laundering due to a high number of factors including; the high value of assets, price fluctuations and speculation within the market, difficulties in assessing the true value of a house, and the fact that the legal owner is not necessarily the economic owner. In this book, the authors identify a total of 25 characteristics which render a property susceptible to money laundering. The more such characteristics a property exhibits, the more suspicious it becomes. The authors also discover that some of these characteristics weigh heavier than others. Combining economic, econometric and criminological analysis, this multidisciplinary approach shows how to detect criminal investment in the real estate sector. This well-researched book will appeal to government authorities responsible for combating money laundering, international organizations such as the IMF, the UN, the Worldbank and the EU, as well as financial intelligence units in all countries. Real estate associations, real estate research centers, criminologists and economists will also find this book invaluable.
