Banks and Financial Crime The Law of Tainted Money

It looks at the problems banks now face and the legal solutions required to remedy these.The book starts by looking at what exactly financial crime is and how it happens, moving on to look at the international aspects of the law of tainted money.The authors then examine aspects such as the regulatory responsibilities and private law duties of banks including their liabilities to third parties and their obligations to assist persons seeking the recovery of assets. Issues such as substantive private law claims that banks may face are considered, particularly from the perspective of their customers and of victims of financial crime, where a bank has in its possession 'tainted money'. A comparative approach is taken with civil jurisdictions and US law. The book concludes by considering possible future developments of the international law of tainted money, including coverage of any potential problems that are anticipated and a view on the likely effectiveness of such international law.