1. If found guilty, Mr McNamara, who has been charged with mail fraud, wire fraud, and money laundering, could face up to 30 years in jail, the seizure of all his assets and fines amounting to more than $800m. (BNCI)
2. New legislation against" money laundering" came into effect on Aug. 1, 1990, making complicity in the laundering of" dirty money" (essentially the proceeds of the international drugs trade) a criminal offence punishable by a prison sentence of up to five years, and compelling banks to identify the true owner of monies deposited with them. (BNCI)
3. On the other hand, controls of all kinds and state interventions do not have an impressive record in avoiding money laundering, while they frequently create opportunities for corruption. Does this still hold true in a context of globalization?(WebCorp)