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To examine if recent changes to the law and practice of certain offshore financial centres (OFCs) means that some OFCs now have more stringent anti‐money laundering measures in place compared to their “onshore” counterparts. To further explore the allegation by some that there is a dual standard in terms of the pressure applied to OFCs on the one hand and “onshore” jurisdictions on the other.

The analysis will focus on the Crown Dependencies and the British Overseas Territories of Bermuda and the Cayman Islands. The “onshore” jurisdictions include the UK, the USA and Australia. Comparison of the implementation of the FATF 40 Recommendations (using the most recent IMF Assessments), trust and company services legislation, and the “Know Your Customer” requirements.

The results show that the Crown Dependencies and the selected Overseas Territories are not only keeping up with the USA, the UK and Australia but in many cases “outdoing” the AML/CFT regimes of these onshore jurisdictions.

Comparison limited to only certain OFCs and “onshore” jurisdictions. There is a two year difference between the IMF assessments for the OFCs and for the onshore jurisdictions. Future research would include the results of the second phase of the OFC Assessment Program and IMF assessments due in the next few years.

This paper examines a very topical area of financial crime based on the most recent data available.

The purpose of this paper is to discuss the implementation of effective risk‐based anti‐money laundering (AML)/combating the financing of terrorism (CFT) systems of control in order to properly address the risks facing the financial services industry. It seeks to argue that most systems of controls currently in place are ineffective and bureaucratic and do not address the real risks.

The paper outlines the recent history of AML/CFT measures and the underlying reasons for their adoption. It then argues that if risk‐based is to be adopted a methodology to address the risks must first be designed. The paper outlines the pre‐requisites for the design of such a system and the factors that need to be considered for implementation. The paper highlights the need for regulators to fall in line with the risk‐based approach and to pass back to senior management responsibility for the implementation of systems of control which are appropriate and proportionate.

Most of the current systems of control in AML/CFT are driven by regulatory requirements and not an understanding of the risk facing the firm.

The paper is original work of the Financial Services Commission in its entirety.

Entrepreneurs may wish to be selective about which relatives to include or exclude in their businesses. For example, their child might be inept but their niece might be outstanding. What aspects of kinship systems affect their ability to make these sorts of choices? What enables them to bend their ties of kinship and marriage to the interests of their business? Most broadly, what dimensions of kinship lend themselves to tactical or instrumental actions? This question is sweeping just as my meaning of “entrepreneurs” is very broad: those who take actions with the goal of growing their capital (Stewart, 1991). This capital may take the form of newly started ventures, dynastic firms, or even in precapitalist systems other social forms, for example, rural estates farmed by followers.

This paper examines the recent process of transformation within the World Bank as a series of reactive mediations to the crisis-laden course of capitalist development on a global scale over the last two decades. Two aspects of the Bank’s attempt to construct a new development agenda as a response to contradictions emergent within neoliberal-style social restructuring are highlighted. First, it has embraced the theoretical trends and policy implications of institutional economics. Second, it has refashioned its relations with client countries and their civil societies under the rubrics of “ownership,” “participation” and “empowerment.” The paper proceeds to indicate why the Bank’s current reformulation of development theory presents itself within mainstream theoretical paradigms as an appropriate prescription to counter the crisis of neoliberal-style social restructuring. Concurrently, on the basis of a materialist critique of capitalist development, the paper proceeds to indicate the substantive limits to these present reforms by indicating their theoretical weaknesses and their practical contradictions.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

Frequent attendance at emergency departments (ED) has been identified in adult protection reviews as a potential warning sign of the escalation of someone’s vulnerability. Concern has been expressed about the engagement of the National Health Service (NHS) in adult protection and the small number of NHS adult protection referrals. More specifically ED departments have been identified as an area of high patient through put where there has been little evidence around how well adult support and protection (ASP) was being delivered. The paper aims to discuss these issues.

A series of audits were undertaken in three different hospitals across a large Scottish Health Board accessing ED at different times of day on different days of the week to test out whether NHS staff working in EDs are identifying adults who meet the criteria of “an adult at risk”.

The audits identified a total of 11 patients from a total sample of 552 records examined who may have met the criteria to be considered an adult at risk, although further information would have been required to make a fully informed decision.

The main study limitation is that the hospitals are all within a single Health Board. The EDs have a large number of admissions and it is possible that a less pressurised area, might have a lower threshold of “risk” than the practitioners involved in the audits. The decision as to whether an adult was considered to meet the three-point test by the three people undertaking the audit was dependent on the quality of information recorded on the patients’ electronic hospital record.

It is essential that NHS Boards proactively support practice in ED settings so staff are able to identify adults at risk of harm under the ASP legislation so that ED staff are responsive to ASP needs.

The research evidence around adult protection in the UK is still emerging. The development of good practice based on the Scottish Government’s ASP legislation is still being shaped. In England and Wales, the principles of identification and multi-agency working underpinning the safeguarding of vulnerable individuals are broadly similar to Scotland. These audits add to the literature by challenging the assumption that patients who would benefit from local authority investigation and possible support are not being identified within EDs.