NCJ Number
148647
Date Published
1992
Length
489 pages
Annotation
This book profiles and critiques Australian law that bears upon the investigation and exposure of "money trails" involved in illegal enterprises.
Abstract
This collection of essays and papers brings together a broad range of material that shows the legal dimensions of money laundering, cash transaction reporting, and the confiscation of crime proceeds under Australian law. Some of the contributions focus on technical elements of the law, and others address underlying issues of principle and policy. Comparative material from the United States and the United Kingdom has been included. There is also a chapter on corporate compliance and liability control. The review of the relevant law notes that serious and sweeping offenses have been created to combat money laundering. Extensive provision has been made for forfeiture of tainted property. Pecuniary penalties can be imposed to recover the gross benefits derived directly or indirectly from crime. Cash dealers are required to report significant cash transactions and suspicious transactions. Broad powers of investigation have been enacted. The Cash Transaction Reports Agency has been established. Existing enforcement agencies have reoriented their policing and prosecution strategies. The new legislative regime has potentially drastic effects not only for drug traffickers and tax evaders but also for banks, finance companies, accountants, attorneys, land agents, and other persons involved in legitimate enterprises. The basic criticism of the laws reviewed is that they are so diverse and complex that law enforcement personnel are uncertain of their meaning and enforcement, and legitimate individuals and businesses are placed in jeopardy of unwittingly violating the law. The authors recommend a national law. Tables of cases and statues, and a select 220-item bibliography