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Anti-Money Laundering Deskbook: A Practical Guide to Law and Compliance (Looseleaf)

 
Author(s): Nicole S. Healy
Practice Area: Corporate & Securities
Published: Jul 2014
Supplement Date: Jun 2017
ISBN: 9781402422652
PLI Item #: 58432

Also available in hardcover

Money laundering by drug cartels, terrorists, and other criminal groups is a fast-growing problem. Technologies including online payment systems, virtual currency, and stored value cards have joined well-established methods of laundering the proceeds of criminal activity.    

Laundered proceeds provide economic fuel for terrorist activities and violent conflicts across the globe, and fund other criminal activity. Moreover, it is not just criminal gangs that launder money. Because many white collar crimes are predicate offenses for money laundering, a wide array of violations can generate proceeds to be laundered before they can be freely spent. Anti-Money Laundering Deskbook: A Practical Guide to Law and Compliance is a roadmap to understanding this complex area.

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FINCEN) defines money laundering as “the process of making illegally-gained proceeds appear legal,” through a three-step  process of “placement, layering and integration.” Anti-Money Laundering Deskbook defines the terms, and then walks the reader through the federal statutory framework that has evolved substantially since 9/11, the USA PATRIOT Act, and the many statutes and regulations governing money laundering, structuring financial transactions, terrorist finance, and forfeiture.

This Deskbook provides the reader with a comprehensive understanding of money laundering as a cross-border issue, helping the reader to understand such issues as:

  • How money laundering works – including through informal currency transfer networks, e-payment systems, virtual currencies, trade- or service-based schemes, and other methods
  • When property is considered “involved in” or “traceable” to an offense and thus may be seized or forfeited
  • How the structuring of funds to avoid required reporting is an offense regardless of whether the funds are derived from illegal or entirely legal activity
  • How international organizations are adapting to the constantly changing attempts to evade prosecution through complex e-transfers that no longer are being cleared through state-chartered banks
  • What offenses are on the growing list of “specified unlawful activities” (SUAs) that are predicate offenses to money laundering violations
Anti-Money Laundering Deskbook provides a thorough discussion of all the major U.S. cases considering money laundering activity, describes the programs of the major international anti-money laundering (AML) organizations, and provides a suggested model for an effective AML compliance program.
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Nicole Healy is a partner at Ropers Majeski Kohn Bentley PC's Redwood City office. Ms. Healy has represented companies and individuals in a wide range of industries in shareholder class action and derivative litigation, defending claims alleging breach of fiduciary duty and fraud. She has represented companies and individuals in complex commercial disputes, including in matters involving mergers and acquisitions, corporate governance and control matters, disputes regarding intellectual property rights, and claims of unlawful, unfair, and fraudulent business practices under the California Unfair Business Practices Act. She has represented companies and individuals in  investigations by the Securities and Exchange Commission, U.S. Attorney's Offices, and other government agencies. She has conducted corporate internal investigations into possible violations of federal and state law. Ms. Healy has tried cases to judgment in state and federal courts, and to decision in private arbitration proceedings.  

Prior to entering private practice, Ms. Healy was a Trial Attorney with the U.S. Department of Justice's Fraud Section, Criminal Division. There she focused on international criminal matters, including violations of the FCPA. She was participated in negotiating multinational anti-corruption treaties. Ms. Healy joined the U.S. Department of Justice as a member of the Attorney General's Honors Program.