Global Program Against Money Laundering - Explained
What is the Global Program Against Money Laundering?
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Table of ContentsWhat is the Global Program Against Money Laundering (GPML)?A Little More on What is Global Program Against Money LaunderingThe Mentoring ProgramAcademic Research on Global Program against Money Laundering (GPML)
What is the Global Program Against Money Laundering (GPML)?
The GPML is a UN programs to fight money laundering, proceeds of crime, and the financing of terrorism. These programs are global and part of the United Nations Office on Drugs and Crime (UNODC). This office assists member states in complying with the UN conventions and other instruments dealing with money laundering and terrorist financing.
The United Nations Global Programme against Money Laundering (GPML) processes crimes and financial frauds. GPMLs purview and intents were increased in 2008 which now incorporates the UN Conventions on:
- Traffic in Narcotic Drugs and Psychotropic Substances.
- Suppression of the Financing of Terrorism.
- Transnational Organized Crime.
The GPMLs objectives were increased to meet the growing needs and demands for bespoke assistance. The instruments were a practical implementation for the UN and other international AML/CFT standards.
The GPML provides technical assistance and training in the development of related infrastructure, legislation, and skills. It directly helps member states in detecting, seizing, and confiscating illicit proceeds.
A Little More on What is Global Program Against Money Laundering
- GPML is the central point for AML policy and activities within the UN system and a key player in strengthening CFT. In 2015, GPML provided long-term assistance in the flourishing of AML/CFT programs to 66 jurisdictions as well as technical assistance and training in the development of related legislation, infrastructure, and skills.
- Train The Trainer - Majority of the authorities received training from local experts who had participated in the GPML train-the-trainer program.GPML has trained over 4,000 representatives out of which 900 benefited from the train the trainer scheme.
The Mentoring Program
- Mentor Program is one of the most successful training. The mentor can point out the needs and can provide advice regarding the same.
- GPML had employed five mentors in 2015, mentors were stationed in Senegal, South Africa, Gabon, Samoa, and Vietnam.
Academic Research on Global Program against Money Laundering (GPML)
- The illegal sector, Money Laundering and the legal economy: A macroeconomic analysis, Masciandaro, D. (2000). Journal of Financial Crime, 8(2), 103-112. This paper highlighted the macroeconomic framework dedicated to the analysis of the relation among the illegal sector, money laundering, and the legal economy. In previous years this author had developed a microeconomic thesis of the moneylaundering mechanisms.
- International initiatives against corruption and money laundering: an overview: Shehu, A. Y. (2005). Journal of Financial Crime, 12(3), 221-245. It Examines in detail the various international, legal, policy and institutional principles to deal with money laundering and corruption. Begins with the many United Nations (UN) initiatives: The 1988 Convention contra Illicit Trafficking of Narcotic Drugs and Psychotropic Substances. 2000 Convention against Transnational Organised crime and Corruption. Convention to Suppress the Financing of Terrorism and Money Laundering. Global Programme against Corruption
- From drugs to terrorism: the focus shifts in the international fight against money laundering after September 11, 2001, Bachus, A. S. (2004). Ariz. J. Intl & Comp. L., 21, 835.
- Crackdown on money laundering: a comparative analysis of the feasibility and effectiveness of domestic and multilateral policy reforms, Lacey, K. A., & George, B. C.(2002). Nw. J. Intl & Bus., 23, 263. The terrorist attacks in the United States in September 2001, security agencies throughout the world have followed leads that may prove that Osama bin Laden financed the attack with massive amounts of laundered money. Awareness of the harmful effects of money laundering, and public and governmental concerns regarding reverse- money laundering by terrorists has resulted in attention being directed toward anti-money laundering efforts. Governments also are undergoing prima face due to upsurged public pressure to increase and expand the anti-money laundering legislative framework initiatives to determine if they sufficiently resolve the challenges relevant to the eradication of money laundering are being taken up. All the initiatives being evaluated are from The USA.
- The war against money laundering, terrorism, and the financing of terrorism, Morais, H. V. (2002). Lawasia J., 1.
- Money laundering in Southern Africa. Incidence, magnitude and prospects for its control, Goredema, C. (2004). Institute for Security Studies Papers,2004(92), 11-11.
- Watching the Clothes Go Round: Combating the Effecting of Money Laundering on Economic Development and International Trade, Kennedy, P. (2003). Currents: Intl Trade LJ, 12, 140.
- Governance of money laundering: an application of the principal-agent model, Shah, S. A. H., Shah, S. A. H., & Khan, S. (2006). The Pakistan Development Review,1117-1133.
- Fighting international crime and its financing: The importance of following a coherent global strategy based on the rule of law, Morais, H. V. (2005). Vill. L. Rev., 50, 583.
- UN Anti-Money Laundering Initiatives, McDonell, R. (2007). Anti-Money Laundering: International Law and Practice, 49.
- The global detection and deterrence of money laundering, Sandhu, H. S.(2000). Journal of Money Laundering Control, 3(4), 336-344. Crime has become ever more international. The world is faced with criminality that profits by the advantages of the socalled free world, be it is drug trafficking, financial fraud or cyberpornography. Criminals know no geographical boundaries; nor does their dirty money recognize any such barriers.