SciELO - Scientific Electronic Library Online

 
vol.15 issue5Public interest environmental litigation: recent cases raise possible obstaclesMisplacing NEMA? A consideration of some problematic aspects of South Africa's new EIA Regulations author indexsubject indexarticles search
Home Pagealphabetic serial listing  

Services on Demand

Article

Indicators

Related links

  • On index processCited by Google
  • On index processSimilars in Google

Share


Potchefstroom Electronic Law Journal (PELJ)

On-line version ISSN 1727-3781

Abstract

HAMMAN, AJ  and  KOEN, RA. Cave pecuniam: lawyers as launderers. PER [online]. 2012, vol.15, n.5, pp.68-100. ISSN 1727-3781.

The attorney's trust account is an enticing prospect for criminals seeking ways to launder money acquired illegally, and the attorney whose trust account is abused in this way stands to be branded and punished as a money launderer. The overall aim of the article is to identify the dangers which money launderers pose to attorneys and to highlight the need for vigilance in the face of these dangers. It analyses the anti-money laundering reporting obligations imposed on attorneys by the Financial Intelligence Centre Act and considers impact of these obligations upon the attorney-client relationship. Some of the ways in which a law practice may become implicated in the placement, layering and integration stages of the money laundering process are discussed, and cases which deal with attorneys' involvement in money laundering schemes are presented.

Keywords : trust account; attorneys; money laundering; FICA; confidentiality; legal professional privilege; reporting obligations; cash threshold; suspicious transaction; tipping off.

        · text in English     · English ( pdf )

 

Creative Commons License All the contents of this journal, except where otherwise noted, is licensed under a Creative Commons Attribution License