Words and Grammar. aForm nouns from the following verbs and translate them into Russian:

a Form nouns from the following verbs and translate them into Russian:

to prohibit.............................. to link........................................

to sign..................................... to extend..................................

to exempt................................ to recommend...........................

to range................................... to request..................................

b Write out the English equivalents from the text:

следуя статьям Конвенции........................................................................................

отдельные виды преступлений.................................................................................

торговля наркотиками...............................................................................................

статья 6, параграф 1....................................................................................................

включать пункт...........................................................................................................

определенный список серьезных преступлений......................................................

органы правопорядка..................................................................................................

с Match the English and Russian equivalents:

d Add as many nouns as you can which can be used with the following adjectives:

e Insert the correct articles wherever necessary:

... United Kingdom ... Austria ... Netherlands ... provisions of ... 1990 Strasbourg Convention ... Article 6 ... paragraph four ... same Article

... anti-money laundering preventive legislation of... each member state must therefore be extended to eliminate... sectorial weakness.   According to it,... each signatory State is allowed to limit... predicate offences to... specific list of... serious crimes.

f Choose the correct prepositions:

exemption from/of military service

exemption from/of this provision

to contribute in/to the improvement of the cooperation

differences of/in the predicate offences from/in the criminal legislation

to criminalise money laundering derived from/of drug trafficking

legislations move at/to the extension of the predicate crimes

as recommended by/on Article 6

g Write down sentences of your own with the following:

to limit the predicate offences

the request for exemption

to extend the reporting provisions

to produce disparity

to lower the risk

h Encircle the predicates, write down in what forms the verbs are used and translate the sentences into Russian:

1 The request for exemption should be eliminated modal verb “should” plus Infinitive in the Passive. Необходимо отменить все случаи обращений за получением освобождения от уплат пошлин (и налогов)...................................................................................................................................................................

2 These differences produce disparity in the prohibition of money laundering..................................................

3 This would move financial sectors of European countries to extend the reporting provisions..................................................................................................................................................................................

4 This trend is the result of the risk evaluation...................................................................................................

5 They obviously try to lower the risk of being detected....................................................................................

6 The legislation must therefore be extended to eliminate the sectorial weakness............................................

7 Measures will have to be studied to prevent certain sectors from remaining outside the field of the law.............................................................................................................................................................................

§ Suggested activities

i Translate the sentences from the text which speak about:

• possible overregulation

• defence of the free market

• the 1990 Strasbourg Convention

• the differences in the predicate offence in the criminal legislation of the European Union countries

j Make a plan of this text and compose a title of the whole text.

Text 5

If too many obligations are posed upon a specific sector or in a specific country, there is a risk of creating serious distortions among different sectors in a single member state or geopolitical distortions in a specific area of the European region because they increase costs and time devoted to the controls. The resources allocated for anti-money laundering controls would not directly be invested in the production cycle of goods or services and would be perceived as an added fixed cost in respect of other competitors who do not have to sustain those same obligations.

In this direction, Article 13 of the Directive provides for the creation of a Contact Committee, whose main task is to facilitate the coordination and harmonisation of implementing measures between member states, including action regarding the extension of obligations to additional unregulated professions and undertakings. Actually, the Contact Committee is examining the possibility of creating for all European Union member states a common list of professions and categories of undertakings to be covered. In doing so, many problems arise: first of all, there is the consideration that money laundering can be carried out through virtually any kind of business. However, this does not mean that the provisions of the Directive should be applied to all kind of professions and undertakings, regardless of the real risk involved. Any decision in this regard should keep the balance between the obligations and duties to be imposed and the real risk of money laundering. Secondly, it is important to understand the modus operandi of internal control systems and supervisory authorities for each profession. For this reason, the specific obligations to be applied to each profession and the appropriate system to enforce them should be carefully considered.

Certain geographical areas remain scarcely regulated or not regulated at all, and some offshore financial centres are in the European continent or in territories somehow linked to European Union member states. Most offshore banks are subsidiaries or branches of banks headquartered in European Union member countries. Further extension of regulatory provisions also to these subsidiaries or geographic areas should, of course, contribute to enhancing the effectiveness of these obligations and distribute among more actors the economic costs of these preventive policies. The non-compliance to these obligations by external countries or by institutions should be turned into an economic disadvantage, providing sanctions for the institutions or into economic barriers and fiscal disincentives for the countries.

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