Thursday, December 3, 2009

International Money Laundering: OECD Handbook for Tax Auditors

By Linda Friedman Ramirez
Extradition and Cross Border Criminal Defense News
Sunday, November 1, 2009

This publication, Money Laundering Awareness Handbook for Tax Examiners and Tax Auditors, October 2009, is a primer on the mechanics and means to detect money laundering, with a discussion of how money laundering can be carried out through transfers to offshore banks, credit cards as well as international trade. From the report:
"In international literature, money laundering through trade is known as ‘Trade Based Money Laundering’. It is seen by various organisations, such as the FATF and the World Customs Organization as a key method to move and/or launder large amounts of money derived from crime. The movement of money can be visible through the payment of expenses and visible or not, by moving money via air transportation, road transportation or by smuggling with goods. Criminal proceeds often need to be transferred to another country, a criminal transaction must be settled or funds must at some time come back to the criminal. These are reasons for criminals to move capital with the capabilities and constructed legitimacy of international trade. The techniques are discussed hereafter."

Table of Contents:
  • Money Laundering
  • Role of Tax Examiners and Auditors
  • Money Laundering Indicators for Individuals
  • Tax Return Examination and Pre-Audit Indicators
  • Audit Indicators
  • Specific Indicators on Real Estate
  • Specific Indicators on Cash
  • Specific Indicators on International Trade
  • Specific Indicators on Loans
  • Specific Indicators on Professional Service Providers

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