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Under the auspices of the Ministry of Finance,

Under the auspices of the Ministry of Finance, the Hellenic Capital Market Commission , the At hens University of Economics and the Federation of Greek Industries In co operation with: The Associations of Judges and Public Prosecutors of Greece

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Under the auspices of the Ministry of Finance,

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  1. Under the auspices of the Ministry of Finance, the Hellenic Capital Market Commission, the Athens University of Economics and theFederation of Greek Industries In co operation with: The Associations of Judges and Public Prosecutors of Greece 4th Three day Conference for Judicial Officers on: “Justice and Financial Law” 16-18 November 2007 Poseidon Resort, Loutraki

  2. Justice and Financial Law Money Laundering: Recent Developments, Old Problems Gil Galvão* Loutraki, 17 November 2007 *Vice-President of the Portuguese Constitutional Court. Former Vice-President of the Portuguese Securities’ Market Commission and former President of the Financial Action Task Force FATF/GAFI

  3. Money Laundering: Recent Developments, Old Problems

  4. Three tales from life: • A mirror portfolio • Indirect evidence • Reversing the burden of proof

  5. Fighting Money Laundering: • Deprive criminals of the proceeds of crime

  6. Fighting Money Laundering: • The 1988 Vienna Convention • The 2000 Palermo Convention

  7. Recent Developments: Combating Terrorist Financing • The 2001 Fatf Eight Special Recommendations • The 2005 Fatf Ninth Special Recommendation on cash couriers

  8. Recent Developments: The 2003 Revised Fatf 40 Recommendations • A Stronger Standard for Predicate Offences • Enhanced Customer Due Diligence • International judicial and judiciary co-operation

  9. Recent Developments: The 2005 Third European Union Directive • Coverage of Terrorist Financing • Politically Exposed Persons • Due Diligence

  10. Old Problems: • Autonomy of Money Laundering • Interest Protected with the Incrimination • Shell Corporations • Bank Secrecy • Gatekeepers

  11. Old Problems: Bank Secrecy There is no effective anti-money laundering policy where bank secrecy reigns

  12. Gatekeepers: Lawyers acting as financial intermediaries are subject to financial regulations

  13. The March 30, 2004German Constitutional Court Decision

  14. Money Laundering: Recent Developments, Old Problems Adapt legal culture to new times and challanges

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