Legal and Finance: September 11 Attacks Have Led to Tighter Regulations for Catching Cash Criminals; Malcolm Preece, Senior Tax Manager with Aston Gilbert & Squire, Considers the Implications of the New Legislation

The Birmingham Post (England), August 8, 2003 | Go to article overview

Legal and Finance: September 11 Attacks Have Led to Tighter Regulations for Catching Cash Criminals; Malcolm Preece, Senior Tax Manager with Aston Gilbert & Squire, Considers the Implications of the New Legislation


Byline: Malcolm Preece

For years there have been suggestions that vast amounts of illegal money is being laundered, particularly by drug dealers and international gangsters.

The events of September 11, 2001, drew attention to just how much money laundering is going on in the world.

It showed that international terrorists were moving cash around with great ease and that present controls were not particularly effective.

Various governments around the world had also realised that money laundering was contributing significantly to both tax evasion and the 'black economy'. As a result of these concerns, rules and regulations are being tightened in very many ways and effort is being concentrated on money laundering to a quite unparalleled extent.

Anyone running a business needs to have some knowledge of what the issues are and how they could easily find themselves on the wrong side of the law.

Money laundering is essentially the method by which a criminal places the proceeds of crime into a bank account without drawing attention to what has been done.

If a drug dealer went along to a bank on Monday morning and tried to pay in the weekend's takings, the bank would notice it and report it -unless the sum was relatively small. If criminals can find a legitimate business to help them by taking the cash and pretending that it is the business's money being paid in (in exchange for a proportion), that business can put the cash into the bank without questions asked. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Legal and Finance: September 11 Attacks Have Led to Tighter Regulations for Catching Cash Criminals; Malcolm Preece, Senior Tax Manager with Aston Gilbert & Squire, Considers the Implications of the New Legislation
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.