How not to be a money launderer

How not to be a money launderer: the avoidance of fraud and money laundering in your organisation (2nd edition, reprint, appendices omitted)

Nigel Morris-Cotterill, Solicitor (retired), Head, The Anti Money Laundering Network

Publisher: CreateSpace, USA (global distribution via Amazon.com and associated websites / bookshops.

Publication date: 11 November 2011

ISBN-13: 978-1467971225

ISBN-10: 1467971227

Paperback: USD24.99

Buy now: https://www.createspace.com/3730119

Before regulators and the Financial Action Task Force cared about hawala, Morris-Cotterill highlighted its risks; before anyone coined the buzzword "trade-based laundering," Morris-Cotterill explained the concepts and abuses; long before countries expressly criminalised sex tourism, Morris-Cotterill explained how to attack the money flows to reduce the incidence of fly-in child abuse; before the concept of a "risk approach" was on any regulator's agenda, Morris-Cotterill presented all money laundering related compliance and avoidance as a risk management issue. And he introduced and explained the risks of laundering through dealers in high-value goods.

That is just a small selection of the things that first appeared in this book but have since become recognised as norms or standards.

Morris-Cotterill wrote the book for a general business readership, not just lawyers and high-level staff in financial institutions: he dealt with compliance in, for example, car dealers and other dealers in high-value goods. So he eschewed complex terms such as "Placement, Layering and Integration" instead creating the alternatives "hiding, moving and investing" - terms which have recently found their way into US government documents.

How Not To Be A Money Launderer was a ground-breaking book that had an extraordinary ability to pre-date the development of counter-money laundering laws around the world. And will continue to do so as the risks and approaches developed in it continue to be adopted.

"The most obvious lesson to be learned is one which goes against the grain of all manner of institutions who think they are too big, too old, to wise to be taken by a fraudster, a money launderer or a negligent employee. No-one is that good."

"If I see copies of this book on desks in banks, travel agents and second hand car dealers, I will feel a little more confident that I achieved an objective: to make a complex and worrying subject one which can be understood not just by lawyers and senior managers in large organisations but also by all those who, but for the understanding they gain, might end up in jail because they did not realise what the law could do to them.

"If you are in any way involved in the ownership or management of any business, this book will show you what aspects of your business need to be addressed."

"A lot of information here" - The Daily Telegraph
"A book everyone in business should read" - Legal Abacus