Banker as victim: an approach to money laundering prosecutions

Abstract

Purpose

The purpose of this paper is to discuss a novel approach to money laundering prosecutions that focuses on the deception of bankers as opposed to the original provenance of the funds.

Design/methodology/approach

Considers decided cases and the theoretical bases for “Know Your Customer” (KYC) and Customer Due Diligence (CDD).

Findings

No examples were found of the approach outside of cases in the British Virgin Islands but firmly grounded in law.

Practical implications

Provides an alternative basis for money laundering prosecutions.

Originality/value

Prosecutors and investigators may find the approach useful and discussion on its use in other jurisdictions would be appreciated.

Citation

Williams, T.F. (2009), "Banker as victim: an approach to money laundering prosecutions", Journal of Money Laundering Control, Vol. 12 No. 1, pp. 50-58. https://doi.org/10.1108/13685200910922642