Table of Contents

Acknowledgements xi

Alliance Partners xii

About this book xv

About the editors xvi

Foreword xix
Professor Kader Asmal, President FATF 2005–2006

Anti-Money Laundering – A short history 1
Wouter H. Muller (editor), Zurich

International Issues 13

Compliance and AML – Standards, education and training 15
William B. Howarth, president ICA, Birmingham (UK)

Anti-Money Laundering Regulation and Trusts 23
Martyn Frost, STEP Deputy Chairman, Oldham (UK)

International Organizations and Initiatives 35

The United Nations Security Council and the effort to combat money laundering and the financing of terrorism 37
Joel Sollier, UNSC Counter-Terrorism Committee, New York

UN Anti-Money Laundering Initiatives 49
Rick McDonell, UNODC, Vienna

Initiatives of the European Commission 57
Franco Frattini, EU Commission, Brussels (Belgium)

The Financial Action Task Force 69
Alain Damais, Executive Secretary FATF, Paris (France)

The Egmont Group 83
Wouter H. Muller (editor), Zurich

The Wolfsberg Process 93
Mark Pieth, University of Basel

Countries 105

The Americas 107

USA 109
John W. Moscow, Rosner Moscow & Napierala LLP, New York

Canada 127
Nancy J. Carroll & Barbara A. McIsaac, McCarthy Tétrault, Toronto/Ottawa (Ontario)

Panama 141
Ricardo M. Alba & Eloy Alfaro de Alba, Tapia, Linares & Alfaro, Panama City

Argentina 157
Sebastián A. Soler, Marval, O’Farrell & Mairal, Buenos Aires

Brazil 167
Eliana Maria Filippozzi, Noronha Advogados, London Robert Ellis Williams, Noronha Advogados, São Paulo

Uruguay 181
Fabián Rivero, Estudio Bergstein, Montevideo Ady Beitler, Montevideo

Chile 195
Cristóbal Eyzaguirre, Felipe Dalgalarrando & Patricio Middleton Claro y Cia., Santiago de Chile Bahamas, Bermuda and Caribbean 211

Bermuda 213
Craig W. MacIntyre, Conyers Dill & Pearman, Hamilton

Bahamas 233
Cheryl E. Bazard & Tanya C. McCartney, Bahamas Association of Compliance Officers, Nassau

Cayman Islands 249
Martin Livingston, Maples & Calder, Grand Cayman

British Virgin Islands 261
Craig W. MacIntyre, Conyers Dill & Pearman

Barbados 275
Carolyn Hanson, ICA and Barbados Association of Compliance Professionals Christ Church, Barbados

Netherlands Antilles and Aruba 295
Aede Gerbranda, Smeets Thesseling van Bokhorst, Curaçao/Amsterdam

St Kitts and Nevis 307
Shawna Lake & Idris Fidela Clarke, Ministry of Finance, Basseterre, St Kitts Europe 319

Switzerland 321
Judith Schmidt, Swiss Money Laundering Control Authority, Berne

Liechtenstein 341
Johannes Gasser & Markus Schwingshackl, Advokaturbüro Dr. Dr. Batliner & Dr. Gasser, Vaduz

Austria 355
Thomas Schirmer & Markus Uitz, Binder Grösswang Rechtsanwälte, Vienna

United Kingdom 369
Peter Burrell & Kate Meakin, Herbert Smith LLP, London

Jersey 381
Andrew le Brun, Jersey Financial Services Commission, St. Helier, Jersey

Guernsey 399
Mark G. Ferbrache, Ferbrache Richardson, St. Saviours, Guernsey

Cyprus 419
David Stokes, Andreas Neocleous & Co, Limassol

Isle of Man 435
Nick Verardi & Mark Conway, Dickinson Cruickshank, Douglas (IoM)

Ireland 451
John Handoll, William Fry Solicitors, Dublin

Germany 467
Olaf Otting, Gleiss Lutz, Frankfurt am Main

France 483
Philippe Blaquier-Cirelli & Pierre-Yves Couturier, Jeantet Associés, Avocats àlaCour, Paris

Monaco 499
Donald Manasse & Sophie Marquet, Donald Manasse Law Offices, Monaco

Spain 513
Javier García Sanz & Guillermo San Pedro, Uría Menéndez, Madrid

Italy 529
Alberto Giampieri & Paolo Iemma, Gianni, Origoni, Grippo & Partners, Rome/Milan

Greece 541
D. Karamagiolis, Tsibanoulis & Partners, Athens

Belgium 557
Françoise Lefèvre & Olivier Praet, Linklaters de Bandt, Brussels

Netherlands 575
Enide Perez & Max Vermeij, Stibbe Advocaten, Amsterdam

Luxembourg 595
Pit Reckinger, Elvinger, Hoss & Prussen, Avocats à la Cour, Luxembourg

Russian Federation 615
Valery Tutykhin, John Tiner & Partners, Moscow

Ukraine 627
Dmytro Korbut, Andreas Neocleous & Co, Kiev

Middle East 641

United Arab Emirates 643
Graham Lovett & Charles Barwick, Clifford Chance, Dubai (UAE) Asia Pacific 659

Singapore 661
Chee Fang Theng, KhattarWong Advocates & Solicitors, Singapore

Japan 681
Takashi Nakazaki, Anderson Mori & Tomotsune, Tokyo

China 703
Donna Li, AllBright Law Offices, Shanghai Gu Xiao Rong, Institute of Law of Shanghai Academy of Social Sciences,Shanghai

Hong Kong 719
Steven R. Sieker & L. Travis Benjamin, Baker & McKenzie, Hong Kong

Australia 739
Andrew White, Faculty of Law, University of Melbourne, Victoria

New Zealand 763
David Craig & Simon David, Bell Gully, Barristers and Solicitors, Wellington Africa 777

South Africa 779
Pieter K. Smit, Financial Intelligence Center, Pretoria

Index 795

About the Author

Wouter H. Muller, TEP, Senior Consultant at Henley & Partners in Zurich, is a lawyer and trust specialist with more than 35 years experience in international trust management and private banking. He obtained a doctorate in civil law at the Law School of the University of Groningen, worked as a solicitor in the Netherlands before joining Pierson, Heldring & Pierson in 1981. He was previously a managing director of the PHP trust company in the Netherlands Antilles, a director of the MeesPierson Bank and Trust company in Luxembourg, Zurich and Zug.

Christian H. Kälin, TEP, Partner at Henley & Partners in Zurich, is an international real-estate, tax and estate-planning specialist and licensed as a financial intermediary in Switzerland. He is the editor and one of the co-authors of the International Real Estate Handbook as well as the Switzerland Business & Investment Handbook. After completing Zurich Business School and his training at a Swiss private bank, he lived and studied in several countries before graduating from the University of Zurich with a cum laude Masters degree in law.

John G. Goldsworth, Editor of Trusts & Trustees, is a barrister based in London and Of Counsel to Henley & Partners in Jersey, Channel Islands. He holds an LLB (Hons) from the University of London and an LLM in International Business Law from the University of Exeter. He frequently acts as a chairman and lecturer at professional conferences and advises governments, institutions and companies on the proper use and development of international financial activities and on the development of legislation for inward and outward investment, including company law, trusts, tax law, financial law and the relevant regulatory framework.