Anti-Money Laundering

Wouter H. Muller, TEP, Senior Consultant at Henley & Partners in Zurich, is a lawyer and trust specialist with more than 35 years experience in international trust management and private banking. He obtained a doctorate in civil law at the Law School of the University of Groningen, worked as a solicitor in the Netherlands before joining Pierson, Heldring & Pierson in 1981. He was previously a managing director of the PHP trust company in the Netherlands Antilles, a director of the MeesPierson Bank and Trust company in Luxembourg, Zurich and Zug. Christian H. Kälin, TEP, Partner at Henley & Partners in Zurich, is an international real-estate, tax and estate-planning specialist and licensed as a financial intermediary in Switzerland. He is the editor and one of the co-authors of the International Real Estate Handbook as well as the Switzerland Business & Investment Handbook. After completing Zurich Business School and his training at a Swiss private bank, he lived and studied in several countries before graduating from the University of Zurich with a cum laude Masters degree in law.John G. Goldsworth, Editor of Trusts & Trustees, is a barrister based in London and Of Counsel to Henley & Partners in Jersey, Channel Islands. He holds an LLB (Hons) from the University of London and an LLM in International Business Law from the University of Exeter. He frequently acts as a chairman and lecturer at professional conferences and advises governments, institutions and companies on the proper use and development of international financial activities and on the development of legislation for inward and outward investment, including company law, trusts, tax law, financial law and the relevant regulatory framework.

• Acknowledgements xiAlliance Partners xiiAbout this book xvAbout the editors xviForeword xixProfessor Kader Asmal, President FATF 2005–2006Anti-Money Laundering – A short history 1Wouter H. Muller (editor), ZurichInternational Issues 13Compliance and AML – Standards, education and training 15William B. Howarth, president ICA, Birmingham (UK)Anti-Money Laundering Regulation and Trusts 23Martyn Frost, STEP Deputy Chairman, Oldham (UK)International Organizations and Initiatives 35The United Nations Security Council and the effort to combat money laundering and the financing of terrorism 37Joel Sollier, UNSC Counter-Terrorism Committee, New YorkUN Anti-Money Laundering Initiatives 49Rick McDonell, UNODC, ViennaInitiatives of the European Commission 57Franco Frattini, EU Commission, Brussels (Belgium)The Financial Action Task Force 69Alain Damais, Executive Secretary FATF, Paris (France)The Egmont Group 83Wouter H. Muller (editor), ZurichThe Wolfsberg Process 93Mark Pieth, University of BaselCountries 105The Americas 107USA 109John W. Moscow, Rosner Moscow & Napierala LLP, New YorkCanada 127Nancy J. Carroll & Barbara A. McIsaac, McCarthy Tétrault, Toronto/Ottawa (Ontario)Panama 141Ricardo M. Alba & Eloy Alfaro de Alba, Tapia, Linares & Alfaro, Panama CityArgentina 157Sebastián A. Soler, Marval, O’Farrell & Mairal, Buenos AiresBrazil 167Eliana Maria Filippozzi, Noronha Advogados, London Robert Ellis Williams, Noronha Advogados, São PauloUruguay 181Fabián Rivero, Estudio Bergstein, Montevideo Ady Beitler, MontevideoChile 195Cristóbal Eyzaguirre, Felipe Dalgalarrando & Patricio Middleton Claro y Cia., Santiago de Chile Bahamas, Bermuda and Caribbean 211Bermuda 213Craig W. MacIntyre, Conyers Dill & Pearman, HamiltonBahamas 233Cheryl E. Bazard & Tanya C. McCartney, Bahamas Association of Compliance Officers, NassauCayman Islands 249Martin Livingston, Maples & Calder, Grand CaymanBritish Virgin Islands 261Craig W. MacIntyre, Conyers Dill & PearmanBarbados 275Carolyn Hanson, ICA and Barbados Association of Compliance Professionals Christ Church, BarbadosNetherlands Antilles and Aruba 295Aede Gerbranda, Smeets Thesseling van Bokhorst, Curaçao/AmsterdamSt Kitts and Nevis 307Shawna Lake & Idris Fidela Clarke, Ministry of Finance, Basseterre, St Kitts Europe 319Switzerland 321Judith Schmidt, Swiss Money Laundering Control Authority, BerneLiechtenstein 341Johannes Gasser & Markus Schwingshackl, Advokaturbüro Dr. Dr. Batliner & Dr. Gasser, VaduzAustria 355Thomas Schirmer & Markus Uitz, Binder Grösswang Rechtsanwälte, ViennaUnited Kingdom 369Peter Burrell & Kate Meakin, Herbert Smith LLP, LondonJersey 381Andrew le Brun, Jersey Financial Services Commission, St. Helier, JerseyGuernsey 399Mark G. Ferbrache, Ferbrache Richardson, St. Saviours, GuernseyCyprus 419David Stokes, Andreas Neocleous & Co, LimassolIsle of Man 435Nick Verardi & Mark Conway, Dickinson Cruickshank, Douglas (IoM)Ireland 451John Handoll, William Fry Solicitors, DublinGermany 467Olaf Otting, Gleiss Lutz, Frankfurt am MainFrance 483Philippe Blaquier-Cirelli & Pierre-Yves Couturier, Jeantet Associés, Avocats àlaCour, ParisMonaco 499Donald Manasse & Sophie Marquet, Donald Manasse Law Offices, MonacoSpain 513Javier García Sanz & Guillermo San Pedro, Uría Menéndez, MadridItaly 529Alberto Giampieri & Paolo Iemma, Gianni, Origoni, Grippo & Partners, Rome/MilanGreece 541D. Karamagiolis, Tsibanoulis & Partners, AthensBelgium 557Françoise Lefèvre & Olivier Praet, Linklaters de Bandt, BrusselsNetherlands 575Enide Perez & Max Vermeij, Stibbe Advocaten, AmsterdamLuxembourg 595Pit Reckinger, Elvinger, Hoss & Prussen, Avocats à la Cour, LuxembourgRussian Federation 615Valery Tutykhin, John Tiner & Partners, MoscowUkraine 627Dmytro Korbut, Andreas Neocleous & Co, KievMiddle East 641United Arab Emirates 643Graham Lovett & Charles Barwick, Clifford Chance, Dubai (UAE) Asia Pacific 659Singapore 661Chee Fang Theng, KhattarWong Advocates & Solicitors, SingaporeJapan 681Takashi Nakazaki, Anderson Mori & Tomotsune, TokyoChina 703Donna Li, AllBright Law Offices, Shanghai Gu Xiao Rong, Institute of Law of Shanghai Academy of Social Sciences,ShanghaiHong Kong 719Steven R. Sieker & L. Travis Benjamin, Baker & McKenzie, Hong KongAustralia 739Andrew White, Faculty of Law, University of Melbourne, VictoriaNew Zealand 763David Craig & Simon David, Bell Gully, Barristers and Solicitors, Wellington Africa 777South Africa 779Pieter K. Smit, Financial Intelligence Center, PretoriaIndex 795