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Best Practices for Success

Best Practices for Success. Simon Goddard MOLI Serbia 31 August 2012. National strategy Effective controls Criminal Assets Strategy Financial Investigation. Four basic reasons for having effective money laundering controls. To provide a disincentive to crime

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Best Practices for Success

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  1. Best Practices for Success Simon Goddard MOLI Serbia 31 August 2012

  2. National strategy • Effective controls • Criminal Assets Strategy • Financial Investigation

  3. Four basic reasons for having effective money laundering controls • To provide a disincentive to crime • To aid the detection and prosecution of crime • To protect the integrity of business and the financial system • To avoid economic and competitive distortions

  4. Three Key Steps • A national strategy against financial crime, money laundering, and terrorist financing; • A national strategy for training in these areas that includes the setting and monitoring of national standards; and; • A governmental entity to devise, develop, and deliver those national standards and to ensure compliance with them

  5. Criminal Assets Strategy • Criminal confiscation powers • Civil forfeiture and recovery powers • Using taxation powers • Enforcing the recovery of confiscated and forfeited funds • Promoting best practice and delivering training

  6. Financial investigation • The hierarchy of the organisation • The size of the organisation • Individual responsibilities • Particular expertise

  7. Primary Objectives • The arrest of the principals • The dismantling of the organisation • The seizure of criminally derived assets • The disruption of the criminal activity

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