"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Tuesday, November 27, 2007

Money Laundering and Political Party Donations

Tony Hatfield (ex solicitor) brings our attention to the regulations imposed upon his past profession to emsure that they did no act as conduits for their clients.

This is the warning he passes on from from the Solicitors Regulatory Authority:

The impact of the money laundering regime has been strengthened by the implementation of POCA (Proceeds of Crime Act 2002). In addition, the ML Regulations 2003 (Annex 2) will come into force and apply to most lawyers, on 1 March 2004. As with the previous legislation, solicitors may unwittingly commit an offence simply by carrying on activities which are regarded as forming part of the normal business of a solicitor’s practice. Acting in the purchase of a house or business, in establishing and then transferring funds to a bank account onshore or offshore, or even acting during the course of litigation, may implicate a solicitor in money laundering if the funds involved are, or represent, criminal property.

See also Law Society notes on Anti Money Laundering

No comments:

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish