US Government agencies confirm that lowtax jurisdictions are not moneylaundering havens

Journal of Financial Crime

Volumn 11, Issue 2, 2004, Pages 127-133

  Mitchell, Daniel J ^a  

^a Heritage Foundation   (United States)

Author keywords

Money laundering; Tax havens; United States of America

Indexed keywords

EID: 84993047756     PISSN: 13590790     EISSN: 17587239     Source Type: Journal    
DOI: 10.1108/13590790410809130     Document Type: Article

References (36)

1. Organisation for Economic Cooperation and Development (2000) Towards Global Tax Cooperation, Paris. Available at www.oecd.org/pdf/M000014000/M00014130.pdf
2. For a detailed breakdown of the various money laundering blacklists, including lists of jurisdictions, see www.freedomandprosperity.org/ml-havens.pdf
3. Eggen, D. and Day, K. (2001) ‘U.S. Ties Hijackers’ Money to al Qaeda’, The Washington Post, 7th October, available at www.washingtonpost.com/ac2/wp-dyn; Pincus, W. (2002) ‘Mueller Outlines Origin, Funding of Sept. 11 Plot’, The Washington Post, 6th June. Available at www.washington-post.com/ac2/wp-dyn.
4. ‘Gimme Shelter’ (2000) The Economist, 29th January.
5. United Nations (1998) ‘Financial Havens, Banking Secrecy, and Money Laundering’, at www.imolin.org/finhaeng.htm
6. Financial Action Task Force, ‘Basic Facts About Money Laundering’, at www1.oecd.org/fatf/MLaundering_en.htm
7. Wakefield, J. (2000) ‘Following the Money’, Government Executive, 1st October, at www.govexec.com/features/1000/1000s5.htm
8. Schroeder, W. (2001) ‘Money Laundering: A Global Threat and the International Community's Response’, Law Enforcement Bulletin, Vol. 70, No. 5, Federal Bureau of Investigation, May.
9. Maxima Group, Plc, ‘Asset Stealth and Recovery’, see www.maxima-group.com for more information.
10. Baker, R. (1999) ‘Money Laundering and Flight Capital: The Impact on Private Banking’, testimony before the Permanent Subcommittee on Investigations, Committee on Governmental Affairs, US Senate, 10th November, 1999.
11. Baker, R. (1999b) ‘The Biggest Loophole in the Free-Market System’, Washington Quarterly, Autumn.
12. de Rugy, V. (2001) ‘Of Terrorists and Taxes’, Wall Street Journal Europe, 24th October, available at www.freedomandprosperity.org
13. Sherwood, B. (2003) ‘Money Laundering is “Rife” in the City’, Financial Times, 9th June.
14. Central Intelligence Agency, ‘The World Factbook, 2001’, available at www.cia.gov/cia/publications/factbook/index.html
15. The OECD list of ‘tax havens’ can be found at www.oecd.org/pdf/M000014000/M00014130.pdf
16. Financial Action Task Force, ‘Annual Review of NonCooperative Countries and Territories’, at www.oecd.org/pdf/M00042000/M00042332.pdf
17. Financial Action Task Force on Money Laundering, ‘Annual Report, 2001-2002’, available at www1.oecd.org/fatf/pdf/AR2002_en.pdf
18. Financial Action Task Force on Money Laundering, ‘Annual Report, 2001-2002’, available at www1.oecd.org/fatf/pdf/AR2002_en.pdf
19. For more information on the QI regulation, see www. freedomandprosperity.org/tk
20. Internal Revenue Service, ‘List of Approved KYC Rules and Rules Awaiting Approval’, 2001, available at www.irs.gov/prod/bus_info/qi/cntry-list.html#Approved.
21. Loomis, T. (2003) ‘Anti-Terrorism Compliance’, Legal Times, 19th May.
22. Mather, G. (2001) ‘Money-Laundering Fight Could Hit the Wrong Targets’, The Times (UK), 2nd October, at www.thetimes.co.uk
23. Paul, R., Campbell, T., Barr, B. and Jones, W. (2000) ‘Report Together with Dissenting Views [to accompany H.R. 3886]’, International Counter-Money Laundering and Foreign Anticorruption Act of 2000, Report No. 106-728, Committee on Banking, US House of Representatives, 106th Cong., 2nd Sess., llth july, 2000.
24. Yingling, E. (2000) ‘ABA Statement on House Banking Committee Approval of Money Laundering Act’, American Bankers Association, 8th June.
25. American Bankers Association (2003) ‘Being Good Is Just the Beginning’, ABA Banking Journal, June.
26. Croft, J. (2003) ‘Sharp Rise in Costs Blamed on FSA Regulation’, Financial Times, 24th June.
27. The Economist (2002) ‘The Needle in the Haystack’, 12th December. Available at www.economist.com
28. Eggen and Day, ref. 3 above.
29. Pilon, R. (2001) ‘First Thoughts on the New Money Laundering Act’, The Cato Institute, 6th December. Available at www.cato.org/current/terrorism/pubs/pilon-011205.html
30. Rahn, R. (2003) ‘Follow the Money: Confusion at Treasury’, The Washington Times, 23rd January. Available at www.cato.org/dailys/02-05-03.html
31. de Rugy, ref. 13 above.
32. Mazzocchi, J. (2003) ‘Non-banking Institutions Urged to Join Terrorism Fight’, Australian Broadcasting Corporation, 23rd June. Available at www.abc.net.au/worldtoday/content/2003/s886102.htm
33. Task Force on Information Exchange and Financial Privacy (2002) ‘Report on Financial Privacy, Law Enforcement, andTerrorism’, 25th March, 2002. Available at www.freedomandprosperity.org/task-force-report.pdf
34. See www.imf.org/external/np/mae/aml/2001/eng/110801.htm for more information.
35. Crawford, D. (2003) ‘German Officials Fault U.S. on Money-Laundering Woes’, Wall Street Journal, 18th June.
36. Simpson, G. (2001) ‘Hijacker's Money Transfers Illustrate the Limits of New Laundering Laws’, Wall Street Journal, 14th December.