The Banco Delta Asia affair: The USA patriot act and allegations of money laundering in Macau

The anti-money laundering laws of the US are the most powerful in the world. Their broad provisions and extra-territorial reach pose risks to financial institutions around the world. Although they are not widely understood, recent cases demonstrate how these laws operate. In this paper I briefly des...

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Veröffentlicht in:	Crime, law, and social change law, and social change, 2008-12, Vol.50 (4-5), p.293-305
1. Verfasser:	Gaylord, Mark S.
Format:	Artikel
Sprache:	eng
Schlagworte:	Banking Banks Central banks Counterfeiting Covert operations Crime Criminal Law and Criminal Procedure Law Criminal sociology. Police. Delinquency. Deviance. Suicide Criminology and Criminal Justice Diplomatic & consular services Fraud Government agencies International banking International finance Larceny Laundering of money Law and Criminology Legislation Macao Money laundering Nuclear weapons Political Science Printing industry Social Sciences Sociology Sociology of law and criminology Statutes Studies Treasuries United States United States of America USA PATRIOT Act 2001-US
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Beschreibung
Zusammenfassung:	The anti-money laundering laws of the US are the most powerful in the world. Their broad provisions and extra-territorial reach pose risks to financial institutions around the world. Although they are not widely understood, recent cases demonstrate how these laws operate. In this paper I briefly describe Macau, the new gambling capital of the world; analyze the alleged role of Banco Delta Asia (BDA), a small, family-owned bank in Macau, in money laundering on behalf of North Korea; and offer some observations on the controversial use of Section 311 of the USA Patriot Act.
ISSN:	0925-4994 1573-0751
DOI:	10.1007/s10611-008-9127-3