UNDCP Publishes Report on Financial Havens, Bank Secrecy and Laundering

On May 29, 1998, the United Nations Office for Drug Control and Crime Prevention (UNDCP) released a report entitled "Financial Havens, Banking Secrecy, and Money Laundering." Written by four consultants, Jack A. Blum, Esq., Professor Michael Levi, Professor R. Thomas Naylor, and Professor Phil Williams, the report reviews the proclivity of the commission of money laundering and related crimes in financial centers and makes a number of recommendations. In the foreword, Pino Arlacchi, Under Secretary General and Executive Director, Office for Drug Control and Crime Prevention, explains that the study aims to stimulate discussion on bank secrecy and financial havens, but is not intended to necessarily reflect the views of the United Nations on the issue... [more]