On 17 October 2016, EU POL COPPS advisers delivered a specialized course on money laundering for 37 Palestinian lawyers at the Palestinian Bar Association in Ramallah.
The Mission’s advisers explained to the attendees -- both practitioners and trainees – the concept of money laundering and ways to combat it. The advisers also showed the lawyers how money laundering can be investigated, on unusual money transactions and predicated offences. The three-hour event was praised by the participants, who were engaged in extensive discussion about issues related to money laundering such as disguising sources of finance, facilitating money laundering and methods to detect unusual transactions.
Money laundering is a process by which illegally obtained money (in general all proceeds of a crime) is given the appearance of having originated from a legitimate source. The process involves three steps: the first is called placement and it involves introducing cash into the financial system; the second (layering) involves carrying out complex financial transactions to camouflage the illegal source of the cash; and finally, integration, acquiring wealth generated from the transactions of the illicit funds but now coming out of an apparently legitimate source.
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