Browsing by Author "Devi, Mungar Divya Luxmi"

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    An assessment of anti-money laundering mechanisms for politically exposed persons in Mauritius
    (University of the Western Cape, 2017) Devi, Mungar Divya Luxmi; Fernandez, Lovell
    Money laundering is a practice 'as old as money itself'. In 1931, after the conviction of Al Capone for tax evasion, there was a noticeable trend in the use various methods to camouflage assets deriving from crimes. Indeed, the practice of money laundering became not only more prevalent, but also more detectable. However, the term "money laundering" was used for the first time in connection with the Watergate Scandal in the United States, when the Republican Party channelled money obtained illegally via Mexican banks to fund its election campaign. In 1986, the US Congress adopted the Money Laundering Control Act to criminalise money laundering. The US recognised that, having an international character, money laundering could not be combated with domestic laws and controls alone, and that, being the only country implementing strict regulations, the US had placed itself in an economically disadvantageous position. Therefore, the US brought the issue of money laundering to the attention of the international community.
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    An assessment of Anti-Money laundering mechanisms for politically exposed persons in Mauritius
    (University of the Western Cape, 2017) Devi, Mungar Divya Luxmi; Fernandez, Lovell
    Money laundering is a practice 'as old as money itself'.1 In 1931, after the conviction of Al Capone for tax evasion, there was a noticeable trend in the use various methods to camouflage assets deriving from crimes. Indeed, the practice of money laundering became not only more prevalent, but also more detectable. However, the term "money laundering" was used for the first time in connection with the Watergate Scandal in the United States, when the Republican Party channelled money obtained illegally via Mexican banks to fund its election campaign. In 1986, the US Congress adopted the Money Laundering Control Act to criminalise money laundering. The US recognised that, having an international character, money laundering could not be combated with domestic laws and controls alone, and that, being the only country implementing strict regulations, the US had placed itself in an economically disadvantageous position. Therefore, the US brought the issue of money laundering to the attention of the international community.