Placing bankers in the front line

Abstract

Shows how international standards and codes are increasingly addressing the integrity underpinnings of the international financial system, focusing on evolving standards for preventing money laundering, and relates these to the work of the International Monetary Fund’s Monetary and Financial Systems Department. Lists these reference points as: the revised 2003 Basel FATF 40 Recommendations; the Basel, IOSCO and IAIS Core Principles and the revised Basel Capital Accord or Basel II; the Sarbanes‐Oxley Act in the USA; the OECD Principles of Corporate Governance; and recent UK legislation ‐ the Financial Services Act 2000 and the Proceeds of Crime Act 2002. Outlines recent developments in each of these laws and codes as they affect the banking system.

Citation

Barry Johnston, R. and Abbott, J. (2005), "Placing bankers in the front line", Journal of Money Laundering Control, Vol. 8 No. 3, pp. 215-219. https://doi.org/10.1108/13685200510620966