CONCEPTS

AML AND RELATED LEGISLATION IN FORCE

 

Each year the US State Department publishes the International Narcotics Control Strategy Report, which identifies the broad range of actions that jurisdictions have, or have not, taken to combat money laundering. It should be noted that elements of that report include legislative activity and other identifying characteristics that can have a relationship to a jurisdiction’s money laundering vulnerability.

Furthermore, countries are expected to have signed up to a number of UN Conventions. These are: -

 

a) Convention Against Transnational Organized Crime,

 

b) 1988 UN Drug Convention and

 

c) Convention Against Corruption