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Press Release
For Immediate release
September 12, 2005
Contacts:
Barbara Schpilberg (conference inquiries)
Alejandra Slatapolsky (press)
editor@moneylaundering.com
Telephone: 305-530-0500 or 800-232-3652
www.moneylaundering.com
www.lavadodinero.com
Europe law society to challenge lawyer reporting duties before European high court
The Council of Bars and Law Societies of Europe is preparing to fight the validity
of a reporting requirement for lawyers stipulated in the European Union’s
Second Money Laundering Directive of 2001. Even though many European countries
have encountered similar problems implementing the Second Directive, the Third EU
Directive has been approved with the reporting requirements for lawyers remaining
unchanged.
This controversial measure in the Directive and much more will be explored at Money
Laundering Alert’s Second Annual European Money Laundering Conference.
Experts at the conference will provide the inside story on the July 13 decision
by the Belgian Cour d’Arbitrage, which referred the question of whether the
requirements of the second directive interfere with the right to a fair trial to
the European Court of Justice.
Money Laundering Alert and Moneylaundering.com, which annually sponsor the world’s
largest and most renowned money laundering conference in South Florida, are bringing
their renowned conference format and expertise to Barcelona for the Second Annual
European Money Laundering Conference, from 28 September to 30.
Focus on corruption, and PEPs cases
The new EU Money Laundering Directive, which is due to be formally adopted this
month, will receive special attention at this year’s conference. Among its
new provisions and obligations, is a requirement that financial institutions perform
special due diligence on “politically exposed persons” (PEPs), including
those in the EU. Experts who helped draft the directive will tell financial
institutions, businesses and professionals how best to comply.
One of the cases that will be discussed during the conference involves Yevgeny Adamov,
Russia’s former atomic energy minister who allegedly used a web of bank accounts
and shell companies to divert $9 million of foreign assistance funds for personal
use. Adamov’s lawyer claims that he moved the money to those accounts because
Russia was suffering from a banking crisis, hyper-inflation and a resulting erosion
of life savings. Both Russia and the U.S. requested his extradition from Switzerland
on money laundering charges.
Money laundering cases in Spain to be examined
In addition, the conference will spotlight 25 other international experts on 14
panels, which will focus on hot money laundering and terrorist financing topics
including Spain’s recent crackdown on money laundering; the new EU Money Laundering
Directive and how it changes the duties of European financial institutions; how
the EU is counteracting the aggressive “extraterritorial” reach of the
U.S. laws; and how offshore tax secrecy havens serve to launder money.
People from over 30 countries will gather in Barcelona for this three-day conference
that covers the latest money laundering and terrorist financing developments in
Europe and the Middle East. Some of the countries that are going to be represented
in the conference:
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AUSTRALIA
AUSTRIA
BAHRAIN
BELGIUM
BOSNIA
CROATIA
CYPRUS
DENMARK
EGYPT
FRANCE
GEORGIA
GERMANY
GUATEMALA
IRELAND
ISLE OF MAN
ISRAEL
JORDAN
LATVIA
LIECHTENSTEIN
LITHUANIA
LUXEMBOURG
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MALTA
MONACO
NIGERIA
OMAN
PARAGUAY
PORTUGAL
ROMANIA
RUSSIA
SAUDI ARABIA
SERBIA
SINGAPORE
SLOVAK REPUBLIC
SPAIN
SWEDEN
SWITZERLAND
THE NETHERLANDS
TURKEY
UNITED ARAB EMIRATES
UNITED KINGDOM
UNITED STATES
VENEZUELA
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Registration information and full details on the conference, including program and
speakers, are found at www.moneylaunderingconference.com
or www.moneylaundering.com/conferences/europe05/default.aspx
Simultaneous translation provided
The conference will provide free simultaneous English-to-Spanish translation at
all sessions.
Press credentials
Accredited members of the press may obtain press credentials to cover the conference
by contacting Alejandra Slatapolsky by telephone or email, as indicated above
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