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Banking Secrecy and Offshore Financial Centers

Banking Secrecy and Offshore Financial Centers PDF Author: Mary Alice Young
Publisher: Routledge
ISBN: 0415526329
Category : Law
Languages : en
Pages : 190

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Book Description
This book brings together the issues surrounding banking secrecy and confiscation of criminal proceeds. The book examines the existing legal agreements at the international, regional and national levels and their interaction in the substantive areas of confiscation, anti-money laundering and banking confidentiality laws. It looks at how these agreements have been applied in offshore financial centers and demonstrates that despite a number of legally binding UN Conventions as well as global anti-money laundering recommendations, the implementation of them is often lukewarm by those Parties who have ratified the Convention and adopted obligations, because of this the confiscation legislation is incompatible with strict banking confidentiality laws. The work draws on the experience of criminologists to offer critical insight into the legislative frameworks designed to deal with banking secrecy and confiscation in offshore financial centers. It goes on to offer suggestions for measures that may be taken by major economies to circumvent the lack of cooperation by offshore financial centers as intolerance towards money laundering grows in light of recent political and economic events. This book will be of particular interest to students and scholars of Law, Finance and Criminology.

Banking Secrecy and Offshore Financial Centers

Banking Secrecy and Offshore Financial Centers PDF Author: Mary Alice Young
Publisher: Routledge
ISBN: 0415526329
Category : Law
Languages : en
Pages : 190

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Book Description
This book brings together the issues surrounding banking secrecy and confiscation of criminal proceeds. The book examines the existing legal agreements at the international, regional and national levels and their interaction in the substantive areas of confiscation, anti-money laundering and banking confidentiality laws. It looks at how these agreements have been applied in offshore financial centers and demonstrates that despite a number of legally binding UN Conventions as well as global anti-money laundering recommendations, the implementation of them is often lukewarm by those Parties who have ratified the Convention and adopted obligations, because of this the confiscation legislation is incompatible with strict banking confidentiality laws. The work draws on the experience of criminologists to offer critical insight into the legislative frameworks designed to deal with banking secrecy and confiscation in offshore financial centers. It goes on to offer suggestions for measures that may be taken by major economies to circumvent the lack of cooperation by offshore financial centers as intolerance towards money laundering grows in light of recent political and economic events. This book will be of particular interest to students and scholars of Law, Finance and Criminology.

Offshore Financial Centres and the Law

Offshore Financial Centres and the Law PDF Author: Dominic Thomas-James
Publisher: Routledge
ISBN: 9780367651107
Category : BUSINESS & ECONOMICS
Languages : en
Pages :

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Book Description
"This book considers the ability of small jurisdictions with financial centres to meet the expectations of the international community in addressing the threats posed to themselves and others by their innocent, or otherwise, facilitation of the receipt of suspect wealth. In the global financial architecture, British Overseas Territories are of material significance. Through their inalienable right to self-determination, many developed offshore financial centres to achieve sustainable economic development. Focusing on Bermuda, Turks and Caicos, and Anguilla, the book concerns suspect wealth emanating from financial crimes including corruption, money laundering and tax evasion, as well as controversial conduct like tax avoidance. This work considers the viability of international standards on suspect wealth in the context of the territories; how willing or able they are to comply with them; and how their financial centres can better prevent receipt of suspect wealth. While universalism is desirable in the modern approach to tackling suspect wealth - a one-size-fitsall approach is inappropriate for these jurisdictions. On critically evaluating their legislative and regulatory regimes, the book advances that they demonstrate willingness to comply with international standards. However, their abilities and levels of compliance vary. In acknowledging the facilitatively harmful role the territories can play, this work draws upon evidence of implication in transnational financial crime cases. Notwithstanding this, the book questions whether the degree of criticism that they have encountered is warranted in light of apparent willingness to engage in the enactment and administration of internationally accepted laws, and cooperate with international institutions"--

Offshore Financial Centres and the Law

Offshore Financial Centres and the Law PDF Author: Dominic Thomas-James
Publisher: Routledge
ISBN: 1000411176
Category : Business & Economics
Languages : en
Pages : 220

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Book Description
This book considers the ability of island jurisdictions with financial centres to meet the expectations of the international community in addressing the threats posed to themselves and others by their innocent (or otherwise) facilitation of the receipt of suspect wealth. In the global financial architecture, British Overseas Territories are of material significance. Through their inalienable right to self-determination, many developed offshore financial centres to achieve sustainable economic development. Focusing on Bermuda, Turks and Caicos, and Anguilla, the book concerns suspect wealth emanating from financial crimes including corruption, money laundering and tax evasion, as well as controversial conduct like tax avoidance. This work considers the viability of international standards on suspect wealth in the context of the territories, how willing or able they are to comply with them, and how their financial centres can better prevent receipt of suspect wealth. While universalism is desirable in the modern approach to tackling suspect wealth, a one-size-fits-all approach is inappropriate for these jurisdictions. On critically evaluating their legislative and regulatory regimes, the book advances that they demonstrate willingness to comply with international standards. However, their abilities and levels of compliance vary. In acknowledging the facilitatively harmful role the territories can play, this work draws upon evidence of implication in transnational financial crime cases. Notwithstanding this, the book questions whether the degree of criticism that these offshore jurisdictions have encountered is warranted in light of apparent willingness to engage in the enactment and administration of internationally accepted laws and cooperate with international institutions.

Offshore Finance

Offshore Finance PDF Author: Source Wikipedia
Publisher: University-Press.org
ISBN: 9781230647098
Category :
Languages : en
Pages : 58

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Book Description
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 57. Chapters: Flag of convenience, Tax haven, Offshore financial centre, Offshoring, Law of the British Virgin Islands, Offshore company, Offshore bank, Captive insurance, List of flags of convenience, Catastrophe bond, Offshore investment, Cathedral Bank, Offshore magic circle, International Business Companies Act, FATF Blacklist, Robert B. Anderson, Offshore trust, BVI Business Companies Act, Trust company, International business company, Offshore fund, Butterfield Bank, Ugland House, Hill Samuel, Segregated portfolio company, List of offshore financial centres, Labuan IBFC, Shell corporation, Center for Freedom and Prosperity, Bradford & Bingley International, Barclays Wealth, Alliance & Leicester International, HSBC Bank International, Nationwide International Ltd, Panama Private Interest Foundation, Sourcing advisory, Treasury company, Orphan structure, U-turn, Abbey International, WFC Group.

Financial Services Regulators in Offshore Financial Centres

Financial Services Regulators in Offshore Financial Centres PDF Author: Richmond Law & Tax
Publisher: Richmond Law & Ted Limited
ISBN: 9781904501473
Category : Business & Economics
Languages : en
Pages : 294

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Book Description
Rapid growth in financial services regulation in many countries has led to demand for high quality data about agencies and institutions involved in national and international regulatory systems and explanation of the legal context in which they operate. This major new publication provides detailed, consistently presented information for over 100 institutions. It covers organizations with regulatory responsibilities, whether primary or secondary, for the banking and financial services industry on both national and international levels. Invaluable data provided for each institution include: Scope of Regulation; Legal Basis; Financing; Key Personnel and Organizational Structure; History; Current Regulatory Developments; Regulatory Objectives; Activities and Implementation; Measures to Ensure Compliance; Accountability; Complaints and Redress; Relationships with other Regulatory Bodies; Principal Publications. The information provided for each regulatory body has been reviewed by a leading law firm in each jurisdiction. This data is complemented by a comprehensive explanation of the financial services regulatory framework in each country, provided by the same law firm. These overviews include: description of the nature of the regulatory regime; recent regulatory developments; analysis of the regulatory bodies, their policies, operational activity and relationships; scope of regulatory responsibilities, their application and legal basis; explanation of the international context; future developments expected.

International Co-operation in the Fight Against Corruption and Offshore Financial Centres

International Co-operation in the Fight Against Corruption and Offshore Financial Centres PDF Author: Council of Europe
Publisher: Council of Europe
ISBN: 9789287146243
Category : Political Science
Languages : en
Pages : 163

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Book Description
This conference concerns the fight against corruption in the use of offshore financial centres especially in their use for money laundering. The papers include: corruption and the regulation of offshore financial centres; international co-operation in the fight against corruption from the point of view of an offshore centre; the experience of the Russian Federation; legal co-operation concerning activities in offshore countries; corruption and the offshore world - challenges and experiences; how to block investigations - the conspiracy between financial centres and offshore companies.

Re-imagining Offshore Finance

Re-imagining Offshore Finance PDF Author: Christopher M. Bruner
Publisher: Oxford University Press
ISBN: 0190466871
Category : Law
Languages : en
Pages : 245

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Book Description
Small jurisdictions have become significant players in cross-border corporate and financial services. Their nature, legal status, and market roles, however, remain under-theorized. Lacking a sufficiently nuanced framework to describe their functions in cross-border finance - and the peculiar strengths of those achieving global dominance in the marketplace - it remains impossible to evaluate their impacts in a comprehensive manner. This book advances a new conceptual framework to refine the analysis and direct it toward more productive inquiries. Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He then proposes a new concept that better captures the characteristics, competitive strategies, and market roles of those achieving global dominance in the marketplace - the "market-dominant small jurisdiction" (MDSJ). Bruner identifies the central features giving rise to such jurisdictions' competitive strengths - some reflect historical, cultural, and geographic circumstances, while others reflect development strategies pursued in light of those circumstances. Through this lens, he evaluates a range of small jurisdictions that have achieved global dominance in specialized areas of cross-border finance, including Bermuda, Dubai, Singapore, Hong Kong, Switzerland, and Delaware. Bruner further tests the MDSJ concept's explanatory power through a broader comparative analysis, and he concludes that the MDSJs' significance will likely continue to grow - as will the need for a more effective means of theorizing their roles in cross-border finance and the global dynamics generated by their ascendance.

Offshore Financial Centres

Offshore Financial Centres PDF Author: Euromoney Publications (London)
Publisher:
ISBN:
Category :
Languages : en
Pages : 42

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The 1994 Guide to Offshore Financial Centres

The 1994 Guide to Offshore Financial Centres PDF Author:
Publisher:
ISBN:
Category : Banks and banking, International
Languages : en
Pages : 82

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Book Description


The Transformation of Islamic Law in Global Financial Markets

The Transformation of Islamic Law in Global Financial Markets PDF Author: Jonathan Ercanbrack
Publisher: Cambridge University Press
ISBN: 1107061504
Category : Business & Economics
Languages : en
Pages : 424

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Book Description
This contextual analysis of Islamic financial law challenges our understanding of both Islamic law and global financial markets.