FBI — Dollars Laundering

Proceeds Of FraudReport on the effectiveness of anti-dollars laundering and counter terrorist financing measures and help develop better detection and deterrence strategies.

The links, both formal and informal, involving law enforcement agencies, within the UK and abroad, are becoming stronger. A suspect or defendant would be well advised to assume that the content material of any information disclosed to a UK law enforcement agency (for instance, by way of a suspicious activity report) that may well be relevant to an overseas authority, will be shared with the overseas authority.

I read recently of an elderly couple who have been faced with prosecution and tragically committed suicide rather than go via the public humiliation of going to court. Reports indicate that the most frequent charge is ‘failure to disclose’ frequently due to the complexity of the technique and absolutely nothing, more and we are told ‘ignorance is no defence’. It’s a witch-hunt.

The deposit of the forged Cheque, the Court held, could not result in a debt to BMP and therefore, BMP did not drop anything when the credits had been reversed. Consequently, the SCC concluded that BMP had no entitlement to the funds, and there was no exception that barred RBC’s right to recover based on the common law doctrine of mistake of reality. Therefore, Scotiabank had not acted improperly in returning the cash to RBC.

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