3. Put the verbs in brackets into the proper tense forms, translate the sentences into Ukrainian.

1. However, the Criminal Justice Act 1993 ( to make) the laundering of the proceeds of non-drug trafficking crimes an offence for the first time.

2. It ( to be ) not until the enactment of the Criminal Justice Act 1995 and the Proceeds of Crime Act 1995 that Scotland ( to come ) into line with England regarding the extension of money laundering (to cover) all crime proceeds.

3. The biggest source of illicit profits ( to come) from the drugs' trade and it ( to be) drug trafficking that ( to provide) the initial catalyst for concerted international efforts against money laundering.

4. The drugs' industry ( to be ) a highly cash intensive business and "in the case of cocaine and heroin the physical volume of notes received ( to be ) much larger than the volume of drugs themselves".

5. The reporting of suspicious transactions not ( to limit) to cash in the UK.

6. Transfers to and from the financial system ( to be) also under the umbrella of ‘reporting of suspicious transactions’ and this can ( to provide) useful information on the ‘layering’ stage of the money laundering process.

7. The keeping of comprehensive transaction records (part of the procedures) by financial organizations ( to provide) a useful audit trail and ( to give) useful information on people and organizations involved in laundering schemes once discovered.

Writing

a/ Translate into Ukrainian:

An A-Z of Money Laundering ( part 1)

Laundering ill-gotten gains is of necessity a murky business, and even the professionals – on both sides of the fence, legally speaking – spend years to get grips with it. The explosion of interest in how terrorist groups fund their activities has added new concepts and ideas to the mix, muddying the water further.

But don’t make the mistake of thinking that the two are identical. Laundering money and financing terrorism may share some techniques – but they are still very different activities.

On the one hand, money laundering is all about hiding the proceeds of criminal – or at least illegitimate activity. This could be anything : the biggest amounts, probably hundreds of billions of dollars each year, stem from the global narcotics trade, but bank robbers, embezzlers, fraudsters, tax dodgers – not to mention corrupt public servants and politicians – all need some way of making their money look legal when its origin is otherwise.

b/ Explain the reasons: Why money laundering process is so attractive for criminals. ( 150 words)

SECTION 2:

Process and methods of money

LAUNDERING

Before you read

Discuss these questions:

1. What are ways of money laundering ?

2. What do you know about the process and methods of money laundering ?

Key vocabulary:

to be accomplished, placement, layering, integration, to conceal, to maintain,

to shrink, to be smuggled out, the location of acquisition, asset forms, concealment, audit trail, to disassociate, offshore bank, shell companies, wire transfers, stock, anonymity, to be assimilated with, to verify, ‘off the shelf banks,.

loan.

Read and translate the text: