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Money Laundering

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The document discusses money laundering through the use of offshore jurisdictions. It outlines the stages of money laundering as layering, integration and placement. It describes techniques used in offshore centers to launder money such as using formal banking systems, shipping cash, luxury goods, international trade companies, and blending of funds. Offshore financial centers are defined as countries that deal primarily with non-residents and foreign currency out of proportion to their economy size.

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Types and methods of money-laundering through the use of offshore jurisdictions Presented by Olesya Rybakova Public Finance Department student
Table of content Money laundering and offshore jurisdictions Techniques in use Offshores in the system of global finance
Money-laundering (ML) Conduct/acts designed in whole or in part to conceal or disguise the nature, location, source, ownership or control of money (can be currency or equivalents, eg. checks, electronic transfers, etc.) to avoid a transaction reporting requirement under state or federal law and to disguise the fact that the money was acquired by illegal means OECD Glossary of statistical terms
Stages of ML process Layering Integration Placement
Offshore Financial Centre (OFC) Countries or jurisdictions with financial centres that contain financial institutions that deal primarily with nonresidents and in foreign currency on a scale out of proportion to the size of the host economy. Nonresident-owned or -controlled institutions play a significant role within the centre OECD Glossary of statistical terms
Placement Techniques in use Sidestepping Use of formal banking system Shipping money in cash Luxury goods International trade company Blending of funds Parallel banking
Integration A debit or credit card issued by an offshore bank A payable-through account Casino winnings International real estate deals Bogus capital gains on options trading Income receipts Business income Business loan
Components of offshore financial system Banks that are subsidiaries or branches of banks in well-regulated jurisdictions Indigenous banks Trusts and International business corporations Bank-like institutions Confidentiality and secrecy laws Mobile accounts Casinos Free trade zones The opportunity of making false documentation
Geographical classification of OFCs Liberia, Mauritius, Seychelles Africa Bahrain, Dubai, Lebanon Middle East Cook Islands, Hong Kong, Labuan, Macao, Marianas, Marshall Islands, Nauru, Niue, Samoa, Singapore, Vanatu Asia and the Pacific Andorra, Cyprus, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein, Luxembourg, Madeira, Malta, Monaco, Switzerland Europe Anguilla, Antigua, Aruba, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Costa Rica, Netherlands Antilles, Panama, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Turks and Caicos Islands The Caribbean Offshore centres Region
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Money Laundering

  • 1. Types and methods of money-laundering through the use of offshore jurisdictions Presented by Olesya Rybakova Public Finance Department student
  • 2. Table of content Money laundering and offshore jurisdictions Techniques in use Offshores in the system of global finance
  • 3. Money-laundering (ML) Conduct/acts designed in whole or in part to conceal or disguise the nature, location, source, ownership or control of money (can be currency or equivalents, eg. checks, electronic transfers, etc.) to avoid a transaction reporting requirement under state or federal law and to disguise the fact that the money was acquired by illegal means OECD Glossary of statistical terms
  • 4. Stages of ML process Layering Integration Placement
  • 5. Offshore Financial Centre (OFC) Countries or jurisdictions with financial centres that contain financial institutions that deal primarily with nonresidents and in foreign currency on a scale out of proportion to the size of the host economy. Nonresident-owned or -controlled institutions play a significant role within the centre OECD Glossary of statistical terms
  • 6. Placement Techniques in use Sidestepping Use of formal banking system Shipping money in cash Luxury goods International trade company Blending of funds Parallel banking
  • 7. Integration A debit or credit card issued by an offshore bank A payable-through account Casino winnings International real estate deals Bogus capital gains on options trading Income receipts Business income Business loan
  • 8. Components of offshore financial system Banks that are subsidiaries or branches of banks in well-regulated jurisdictions Indigenous banks Trusts and International business corporations Bank-like institutions Confidentiality and secrecy laws Mobile accounts Casinos Free trade zones The opportunity of making false documentation
  • 9. Geographical classification of OFCs Liberia, Mauritius, Seychelles Africa Bahrain, Dubai, Lebanon Middle East Cook Islands, Hong Kong, Labuan, Macao, Marianas, Marshall Islands, Nauru, Niue, Samoa, Singapore, Vanatu Asia and the Pacific Andorra, Cyprus, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein, Luxembourg, Madeira, Malta, Monaco, Switzerland Europe Anguilla, Antigua, Aruba, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Costa Rica, Netherlands Antilles, Panama, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Turks and Caicos Islands The Caribbean Offshore centres Region