Download or read book Money Laundering in the Real Estate Sector written by Brigitte Unger and published by Edward Elgar Publishing. This book was released on 2011-01-31 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many countries, the real estate sector is vulnerable to money laundering due to a high number of factors including; the high value of assets, price fluctuations and speculation within the market, difficulties in assessing the true value of a house, and the fact that the legal owner is not necessarily the economic owner. In this book, the authors identify a total of 25 characteristics which render a property susceptible to money laundering. The more such characteristics a property exhibits, the more suspicious it becomes. The authors also discover that some of these characteristics weigh heavier than others. Combining economic, econometric and criminological analysis, this multidisciplinary approach shows how to detect criminal investment in the real estate sector. This well-researched book will appeal to government authorities responsible for combating money laundering, international organizations such as the IMF, the UN, the Worldbank and the EU, as well as financial intelligence units in all countries. Real estate associations, real estate research centers, criminologists and economists will also find this book invaluable.
Download or read book Money Laundering in the Real Estate Sector written by Brigitte Unger and published by Edward Elgar Publishing. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many countries, the real estate sector is vulnerable to money laundering due to a high number of factors including; the high value of assets, price fluctuations and speculation within the market, difficulties in assessing the true value of a house, and the fact that the legal owner is not necessarily the economic owner. In this book, the authors identify a total of 25 characteristics which render a property susceptible to money laundering. The more such characteristics a property exhibits, the more suspicious it becomes. The authors also discover that some of these characteristics weigh heavier than others. Combining economic, econometric and criminological analysis, this multidisciplinary approach shows how to detect criminal investment in the real estate sector. This well-researched book will appeal to government authorities responsible for combating money laundering, international organizations such as the IMF, the UN, the Worldbank and the EU, as well as financial intelligence units in all countries. Real estate associations, real estate research centers, criminologists and economists will also find this book invaluable.
Download or read book Money Laundering in the U S Real Estate Sector written by and published by . This book was released on 2022 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Laundering and Terrorism Financing in Global Financial Systems written by Rafay, Abdul and published by IGI Global. This book was released on 2021-04-16 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. The past few decades have been eventful for these issues. Today, tackling money laundering and terrorism financing are considered key issues in developed and developing countries alike. Eradication of money laundering and terrorism financing through a holistic approach of awareness, prevention, and enforcement is a current need. It has enabled the birth of new regulatory regimes based on strict compliance, robust processes, and technology. One of the many problems with this is the lack of general awareness about all these issues among various stakeholders including researchers and practitioners. Money Laundering and Terrorism Financing in Global Financial Systems deepens the discourse about money laundering, terrorism financing, and risk management in a modern-day environment. It provides a fascinating and invaluable guide for understanding the theory, practice, and cases of these topics. Split into two sections, the first being money laundering and terrorism financing and the second being financial governance and risk management, the chapters create comprehensive knowledge on these acts of crime in the financial industry by defining the crimes themselves, the many challenges and impacts, and potential solutions. This book is ideal for government officials, financial professionals, policymakers, academicians, business professionals, managers, IT specialists, researchers, and students.
Download or read book Typologies of Money Laundering Through the Real Estate Sector in West Africa written by and published by . This book was released on 2008 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Money Laundering Through Real Estate and Agribusiness written by Fausto Martin De Sanctis and published by Springer. This book was released on 2017-02-13 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines two types of transnational money laundering: the use of offshores and wire transfers to “invest” in real estate; and agribusiness, a nebulous activity that is difficult to regulate. The author also examines current international mechanisms to combat money-laundering; whether these efforts have been successful or unsuccessful; and whether multilateral instruments are an effective tool in the war against international organized crime. As national borders have opened and trade barriers have fallen, transnational crime has grown at unprecedented levels. The current situation, better revealed by the so-called “Panama Papers,” is a result of a lack of local cooperation in the investigations, prosecution, and/or extradition of criminals. Governments profit from ill-gotten wealth hosting international criminal enterprises in their own territories, thus providing a fertile ground for illicit practices, closing their eyes to the nexus among false or inappropriate identification, fraudulent records, corruption, and money laundering. If these types of transnational money-laundering are allowed to remain as they are currently treated, the shift in the financial paradigm, from centralized and regulated to decentralized and “unregulated,” would allow for the continuation of some of the most dangerous criminal activity. In this timely book, the author presents arguments that by “following the money,” capital movements involved in transnational money laundering through real estate and agribusiness can be examined, revealed, and understood.
Download or read book Million Dollar Ghost Buildings written by Jeffrey R. Boles and published by . This book was released on 2020 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article analyzes this money laundering loophole in the real estate sector, named “the darkest corner of the real estate market: all-cash purchases made by shell companies that often shield purchasers' identities.” Because all-cash purchases allow buyers to avoid bank financing, and in turn, the need to provide identification to the banks as part of the banks' anti-money laundering procedures, the real estate transaction coupled with limited liability laws in the U.S. provide secrecy and opportunity for money launderers. Charles Intriago, the president of the Association of Certified Financial Crime Specialists, highlights the problem as “The regulation of real estate transactions for financial crime and money laundering is worse than Swiss cheese for all the holes it's got.” The federal government has recently taken initial steps to combat the issue, devoting resources to decrease money laundering in the real estate industry, including the issuance of temporary regulations targeting certain U.S. cities, as well as a 10-agent unit to investigate money laundering, with real estate as a focal point. This Article examines these initiatives and argues for a proper balancing between the need to combat money laundering in the real estate sector and effectively close the loophole with the need to maintain efficiency in real estate sales transactions and a reasonable expectation of privacy by property owners.
Download or read book The Effects of Money Laundering on the Canadian Real Estate Market written by Remington Latanville and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: White collar criminals benefit from their status and positions. Further, they invest the proceeds of crime into the Canadian real estate market, driving up the price of home ownership for working-class Canadians. This thesis explores the relationship between FINTRAC financial transaction reporting in all sectors and suspicious transaction reporting in the real estate sector respectively with the MLS composite home price index. The findings suggest that greater action is needed by real estate representatives to increase the difficulty of elite criminals to profit from weak regulation and enforcement in the industry. The proposed recommendations include a commission incentive to encourage real estate agents to submit suspicious transaction reports, a national database of beneficial ownership identification, and improved public awareness of the occurrence of money laundering in real estate.
Download or read book An Analysis of Money Laundering Regulation in the U S Real Estate Industry written by Madison Mayer (R.) and published by . This book was released on 2020 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the U.S., the financial sector is primarily responsible for identifying and preventing money laundering. Financial institutions have developed an understanding of the risks and obligations relating to money laundering and have preventative measures in place to combat it (FATF 3). However, there are some significant gaps in this regulation, especially pertaining to its lack of coverage of certain institutions, including the real estate industry. This project will explore the issue of money laundering in real estate in the United States and the history of its regulation. It attempts to answer the following question: What role do real estate professionals play in money laundering in real estate and, given the national scope of the issue, are state-licensed real estate professionals equipped to combat it effectively?" -- From page 1.
Download or read book Research Handbook on Money Laundering written by Brigitte Unger and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the practice of disguising the illicit origins of money dates back thousands of years, the concept of money laundering as a multidisciplinary topic with social, economic, political and regulatory implications has only gained prominence since the 1980s. This groundbreaking volume offers original, state-of-the-art research on the current money laundering debate and provides insightful predictions and recommendations for future developments in the field. The contributors to this volume academics, practitioners and government representatives from around the world offer a number of unique perspectives on different aspects of money laundering. Topics discussed include the history of money laundering, the scale of the problem, the different types of money laundering, the cost to the private sector, and the effectiveness of anti-money laundering policies and legislation. The book concludes with a detailed and insightful synthesis of the problem and recommendations for additional steps to be taken in the future. Students, professors and practitioners working in economics, banking, finance and law will find this volume a comprehensive and invaluable resource.
Download or read book Combating Money Laundering and Terrorist Financing written by Commonwealth Secretariat and published by Commonwealth Secretariat. This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The publication is divided into three main parts : the first deals with global issues, the second with national issues and in particular, national strategy formulation; and the third with financial and professional sector procedures. This second edition now includes additional information on understanding how terrorism is financed. It incorporates both the international standard arising from the revised Financial Action Task Force on Money Laundering 40 Recommendations and the Special Nine Recommendations.
Download or read book Wilful Blindness written by Sam Cooper and published by . This book was released on 2024-10-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third edition of "Wilful Blindness" builds on the compelling narrative that has cemented Samuel Cooper's reputation as a premier investigative journalist, now under the banner of The Bureau. This edition unveils startling new revelations, naming potential individuals implicated in the Parliamentary NSICOP report. It suggests that MPs, ministers, and perhaps even the Prime Minister may have been aware of the CCP's interference in our elections and turned a blind eye for political gain. This explosive update makes "Wilful Blindness" a must-read for anyone seeking to understand the depth of corruption and foreign influence shaping our world today.In 1982, three of the most influential men in Asia convened in Hong Kong to shape the future of the city's handover to the People's Republic of China. This pivotal meeting saw Chinese business magnates Henry Fok and Li Ka-Shing align with Deng Xiaoping to advance the Chinese Communist Party's domestic and global ambitions. The decisions made that day would ripple far beyond Hong Kong, reaching as far as Vancouver and reshaping the world.Soon, billions of dollars in Chinese investments poured into North America's Pacific coast. British Columbia's government casinos became conduits for global criminals, facilitating the influx of deadly narcotics into Canada and laundering billions of drug money into Vancouver's real estate market. This was no accident. A web of accomplices--revenue-hungry governments, casino and real estate firms with connections to dubious offshore wealth, complicit lawyers and bankers, and an unresponsive RCMP--allowed organized crime to flourish.The consequences of this greed, corruption, and wilful blindness are staggering. Drug cartels, particularly the Big Circle Boys--transnational narco-kingpins with ties to corrupt Chinese officials and industrial tycoons--have infiltrated significant sectors of Canada's economy. As dirty money inflated Vancouver's real estate market, the social toll became evident: a fentanyl crisis ravaging North American cities, declining life expectancy in Canada, and an unattainable housing market for the middle class.But the story extends beyond real estate and overdoses. Samuel Cooper's investigation reveals that the key players in the "Vancouver Model" of money laundering have turned Canada's west coast into a hub for CCP-led corporate and industrial espionage. These unscrupulous entrepreneurs have exported their criminal operations globally, impacting countries like Australia and New Zealand.The 2019 arrest of Cameron Ortis, the RCMP's top intelligence official, raises alarming questions. Could Chinese transnational criminals and state actors have secured protection from within Canada's national security apparatus? Could China and Iran possess insights into Canada's most sensitive secrets and investigations? Ortis's oversight of critical probes into transnational money laundering and espionage efforts underscores the depth of the infiltration."Wilful Blindness" is a gripping narrative that follows tenacious investigators who challenged the institutionalized negligence and corruption behind the Vancouver Model. Drawing from extensive interviews with whistle-blowers, thousands of pages of government and court documents, and exclusive confidential materials, Cooper uncovers the shocking extent of Canada's compromise.The book concludes with a startling revelation about the extent of the infiltration and outlines crucial steps Canada must take to realign with its "Five Eyes" allies and restore national security.
Download or read book Anti Money Laundering Initiatives for the South African Real Estate Market written by Jeffrey R. Boles and published by . This book was released on 2020 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa operates as a major African financial center, with its robust banking and financial sector and significant cash-based market, and it consequently exposes itself as an attractive target for criminal activity generally and money laundering in particular. Long known as a money laundering hotspot, South Africa shows a low prosecution rate under its main anti-money laundering legislation. Former Finance Minister Trevor Manuel estimated in 2001 that between 2 billion and 8 billion US dollars are laundered through South African institutions annually. The South African real estate market in particular provides opportunities for criminals to launder their funds through purchasing and/or developing properties. Criminals can use the luxury real estate market in the Western Cape Province, for instance, to launder sizeable amounts of illicit funds through buying high-end properties via cash and offshore shell companies that hide their true owners, and the purchased real estate functions as the means to launder the criminal proceeds. Money laundering in real estate is a classic method of laundering money given that the funds can be hidden in real estate by multiple transactions cloaking the illicit source. This Article analyzes money laundering in the South African real estate sector, and in particular, “the darkest corner of the real estate market: all-cash purchases made by shell companies that often shield purchasers' identities,” and recommends specific initiatives that may help combat the offense in this sector.
Download or read book Money Laundering in the Commercial Real Estate Industry written by Financial Crimes Enforcement Network (U.S.) and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Scale and Impacts of Money Laundering written by Brigitte Unger and published by Edward Elgar Publishing. This book was released on 2007-03-27 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Money laundering is a problem of some magnitude internationally and has long term negative economic impacts. Brigitte Unger argues that today, money laundering is largely linked to fraud and that it is not only small islands and tax heavens that launder, but increasingly industrialized countries like the US, Australia the Netherlands and the UK. Well-established financial markets and growing economies with sound political and social structures attract launderers in the same way as they attract honest capital. The book gives an interdisciplinary overview of the state-of-the-art of money laundering as well as describing the legal problems of defining and fighting money laundering. It then goes on to present a number of economic models designed to measure money laundering and applies these to measuring the size of laundering in the Netherlands and Australia. The book also gives an overview of techniques and potential effects of money laundering identified and measured so far in the literature. It adds to this debate by calculating the effects of laundering on crime and economic growth. This book will be of great interest to lawyers, financial experts, economists, political scientists, as well as to government ministries, international and national organizations and central banks."--Jacket.
Download or read book Investment of Criminal Proceeds into the Legitimate Economy written by Emanuele Sclafani and published by Taylor & Francis. This book was released on 2024-02-15 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the infiltration of Italian and Russian organised crime in the UK real estate market, assessing how vulnerable the UK is to these sorts of activities. It identifies the drivers behind the criminal choices and modus operandi of Italian and Russian organised crime groups, and the factors causing their mobility abroad. Investment of Criminal Proceeds into the Legitimate Economy broadens our knowledge on the relationship between criminal agency and criminogenic opportunity in a socio-economic and legal context. This book offers a critical insight into the criminal actors and operations of Italian and Russian organised crime groups, such as money laundering schemes in the real estate sector, whilst also exploring the role of crime facilitators. Drawing on interviews with prosecutors, law enforcement agents and investigative journalists, Investment of Criminal Proceeds into the Legitimate Economy explores how criminal investments adversely affect both law enforcement operations and socio-economic development in this area. An accessible and compelling read, this book will appeal to students and scholars of criminology, law, organised crime, policymakers, and all those interested in how Italian and Russian organised crime operates in the UK real estate market.
Download or read book Report on Tax Fraud and Money Laundering Vulnerabilities Involving the Real Estate Sector written by and published by . This book was released on 2009 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report contains information on the tax evasion and money laundering vulnerabilities associated with the real estate sector. The information contained in the report was provided by 18 countries represented in the Sub-Group in response to a questionnaire that was sent to delegates in July 2006. Apart from providing a useful overview of the key tax evasion and money laundering issues and risks associated with the real estate sector, the report is also intended to provide practical guidance to tax authorities that are seeking to implement or refine strategies to effectively address these risks.
