Unit 21 caught in a legal trap of suspicious minds

1. Pronounce the following words and word combinations. Use a dictionary if necessary.

Foul, confidentiality, solicitor, disclosure, regime, usher, suspicion, proceeds, paltry, suspicious, privilege, inevitably, authorities, access, conveyancer, threshold, misdemeanour, commerce, apparent, fraud, inconsistent, conduct, prejudicing, suspect, covert.

2. Give Russian equivalents to the following words and word combinations.

Anti-money laundering, to compromise client confidentiality, law enforcement, to breach client confidentiality, to disclose suspicions of criminal activity, proceeds of crimes, de minimis provision, tax evasion, to tip-off a client, in a misguided attempt, in clear breach of the principles, to cause mayhem, misdemeanour, small high street practices, the prejudicing of an investigation, identity check, to tackle money laundering.

3. Read the text again and answer the following questions.

1. What legal documents ushered the new anti-money laundering regime?

2. What obligations do many solicitors, advocates and others have under the new anti-money laundering regime?

3. Why are lawyers compelled to make reports on their clients? What consequences may both sides have?

4. How did some solicitors behave under the anti-money laundering regime?

5. How had many countries implemented the money laundering directive and why? Give examples.

6. How did many banks interpret the anti-money laundering regulations?

7. What “extreme problems” was the tipping-off offence causing bank staff?

8. What are longstanding account holders often asked to produce and why?

9. What is meant by “covert human intelligence source”?

10. Why could solicitors and others be identified as the original source of information about suspects of tax evasions or money laundering?

11. Why do most people accept the anti-money laundering regime?

4. Complete the sentences with the information taken from the text.

1. At the recent annual conference lawyers were warned against … … … with too many unnecessary disclosures.

2. Lawyers must disclose minor … … no matter how … the sums involved.

3. Edward Nally called for the government to … … for the value of criminal proceeds.

4. Many money-laundering regulations … from European directives.

5. Making suspicious transaction reports by lawyers in the UK could amount to the … … … .

6. Many banks have increased their … … on customers beyond the requirements of the act.

7. As a result longstanding account holders are asked to produce … or … … to prove who they are.

8. Some customers can become … or … when accounts are frozen or they are questioned over … .

9. The prime concern for retail banks is the threat of … … .

5. Explain the following English words and word combinations in your own words.

Money laundering, confidentiality, solicitor, barrister, law enforcer, conveyancer, a longstanding account holder, a utility bill, to frozen an account, a retail bank.