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Nyarugwe, Raymond Tendai. "An analysis of the Zimbabwean money laundering and proceeds of crime amendment act of 2018." University of Western Cape, 2020. http://hdl.handle.net/11394/8057.
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Magister Legum - LLMFinancial crimes are transnational in nature, and no country is immune from them. They are an international problem that can best be solved through international cooperation on a global scale. It is therefore necessary to have rules and norms that apply worldwide in order to deal with these crimes comprehensively.1 Of particular prominence is the crime of money laundering (ML), which may be defined as the processing of criminal proceeds to disguise their illegal origin.2 This term is relatively new and is broadly defined, with the definitions varying from jurisdiction to jurisdiction. In Zimbabwe, money laundering acts are listed in the Money Laundering and Proceeds of Crime Act 34 of 2013 (the Principal Act).3 The Financial Action Task Force (FATF) is the main international inter-governmental body formed specifically to set AML standards and to promote their implementation globally.
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Williams, Carol. "An analysis of the critical shortcomings in South Africa's anti-money laundering legislation." Thesis, University of the Western Cape, 2016. http://hdl.handle.net/11394/5527.
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Hamman, Abraham John. "The impact of anti-money laundering legislation on the legal profession in South Africa." Thesis, University of the Western Cape, 2015. http://hdl.handle.net/11394/4766.
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Doctor Legum - LLDThis thesis investigates the legislative measures employed in South Africa to combat the implication of lawyers in money laundering schemes. Criminals make use of sophisticated technological means to transfer money and launderers routinely approach lawyers to assist them in their illegal endeavours. The legal profession is almost tailor-made for abuse by launderers, because lawyers work with huge amounts of money, clients are entitled to legal professional privilege and the right to legal representation is guaranteed constitutionally. The South African anti-money laundering regime, for the most part, is contained in two statutes, the Financial Intelligence Centre Act (FICA) and the Prevention of Organised Crime Act (POCA). Whilst FICA and POCA require the legal profession to be vigilant and accountable in the fight against money laundering, unfortunately they also infringe on hard-won rights, such as legal professional privilege, the right to legal representation and attorney-client confidentiality. The study considers South Africa’s efforts to fulfil its international anti-money laundering obligations whilst upholding the criminal procedural rights guaranteed in the Constitution. It is suggested that certain sections of FICA and POCA fail to find the required balance between protecting citizens from the harms of money laundering and protecting the fundamental rights of attorneys and their clients. Lawyers are in a unique position of trust and in some instances have access to information that may incriminate their clients. Unfortunately, in its quest to combat money laundering, Parliament did not consider seriously enough the position of lawyers and took the easy option of criminalising fees paid with tainted funds, as well as the non-submission of suspicious transaction reports (STRs) and cash transaction reports (CTRs). As a result, the South African legal profession is saddled with unacceptable constraints.
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Williams, Carol. "An Analysis of the Critical Shortcomings in South Africa’s Anti-Money Laundering Legislation." University of the Western Cape, 2017. http://hdl.handle.net/11394/7969.
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Magister Legum - LLMFrom failing to arrest and surrender Sudanese President Omar Al-Bashir1 in accordance with its obligations under the Rome Statute of the International Criminal Court2 (Rome Statute), to its President acting inconsistently with its Supreme law3, it is evident that the rule of law is under threat in South Africa. Furthermore, South Africa has witnessed the cultivation of a culture of impunity for corruption in high office. South Africa has also experienced an increase in heinous crimes committed against women and children. The South African Rand recently plummeted given that its Minister of Finance Pravin Gordhan, recently faced charges of fraud4, as well as the ripple effect caused by the Fees Must Fall Movement.5 Against the backdrop of the above-mentioned issues that plague South Africa and hinder its development, the fight against money laundering hardly seems of pivotal importance in achieving the desired stability and development of the country. There is a public perception that money laundering is a crime of little consequence.8 This perception derives from the fact that money laundering does not have a direct impact on its victims and in some instances benefits the economy as it increases the profits for the financial sector and results in a greater availability of credit.9 Laundered money arguably is not harmful but rather beneficial to developing economies because money remains money, whether it is proceeds of crime or honestly earned.10 Although an increase in money is appealing to developing countries, the benefits that accompany laundered money are short-lived as the crime affects society adversely in the long run.11 However, where a country fails to prevent and prosecute money laundering offences, the prevalence of money laundering will impede the development of a state as it not only increases the profitability of crime and encourages the prevalence of corruption, but it also causes damage to critical financial sector institutions.12 Money laundering influences the commission of crimes that generate large amounts of profit, namely, organised crime, which is often described as the twin brother of money laundering.13 This is because criminals do not commit crimes to make money only but to enjoy this money as well.14 However, criminals need to launder their money in order to enjoy the proceeds of their criminal activities without drawing attention to these activities.15 Countries that combat money laundering effectively make it more difficult for criminals to launder the proceeds of their crimes. It becomes more risky for them to indulge in their ill-gotten gains, thus dissuading them from engaging in economic criminality.16 Money laundering is a process where the proceeds of crime are concealed and disguised in order to make them appear lawful.17 Criminals are thus able to enjoy the financial benefits of the crimes they commit.18 The pervasiveness of money laundering in a country does not only affect the confidence the public have in the country’s financial institutions but also undermines the confidence foreign investors and financial institutions have in a developing state’s financial institutions.19 A country can, therefore, run the risk of not benefitting from foreign direct investment.20 The financial institutions rely heavily on what the public think about their integrity.21
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Cullen, Catherine. "The reporting responsibilities of accountants in terms of South African anti-money laundering legislation." Diss., University of Pretoria, 2012. http://hdl.handle.net/2263/24302.
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Criminals make use of accountants to assist them, knowingly or unknowingly, with complex money laundering schemes. The nature of the accounting profession places accountants in an ideal position to identify possibly money laundering activities. The purpose of this research is to consider whether the reporting obligations of South African accountants in terms of section 29 of the Financial Intelligence Centre Act, No 38 of 2001, as amended, corresponds sufficiently with the services they provide so as to constitute an effective anti-money laundering measure. In order to evaluate the relevance of section 29, the reporting requirements of accountants practising in South Africa are compared with those of the European Union and the United Kingdom, as well as the requirements of the Financial Action Task Force. The research study will also analyse the money laundering process and the nature of the accounting profession and consider some of the methods used to perpetrate money laundering applicable to accountants. The research found that accountants in South Africa have a duty to report suspicious transactions only when they are party to such transactions or when they are going either to receive the proceeds of crime or be used for money laundering purposes. Accordingly, in view of the fact that accountants are more likely to be in a position to observe money laundering than to be party to such a transaction, the requirements of section 29 of the Financial Intelligence Centre Act, No 38 of 2001, as amended, are not effective when applied to accountants. CopyrightDissertation (MPhil)--University of Pretoria, 2012.
Accounting
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Dolar, Burak. "The anti-money laundering provisions of the USA Patriot Act : a heterogeneous firm model of the banking industry /." Full text available from ProQuest UM Digital Dissertations, 2007. http://0-proquest.umi.com.umiss.lib.olemiss.edu/pqdweb?index=1&did=1417811071&SrchMode=1&sid=1&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1221165353&clientId=22256.
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Moroga, Denis wangwi. "An appraisal of the Institutional framework under the Kenyan proceeds of crime and Anti-Money laundering act, 2009." University of the Western Cape, 2017. http://hdl.handle.net/11394/6367.
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Department of Criminal Justice and ProcedureMoney laundering (ML) evolves in tandem with global technological advancement. This phenomenon calls for multi-faceted responsive measures at national and international levels to combat this nefarious crime.1 Today, combating ML requires co-operation among, inter alia, financial intelligence units (FIUs), reporting institutions, law enforcement agencies, the judiciary, as well as inter-state co-operation. In response to the ML threat, Kenya has adopted comprehensive anti-money laundering (AML) laws, such as the Proceeds of Crime and Anti- Money Laundering Act No. 9 of 2009 (POCAMLA) and the Prevention of Terrorism Act No. 30 of 2012. These, among other statutes, constitute the principal arsenal of the AML legal framework.
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Ahlers, Christelle. "The South African anti-money laundering regulatory framework relevant to politically exposed persons." Diss., University of Pretoria, 2013. http://hdl.handle.net/2263/31985.
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Politically exposed persons have become a specific risk factor in money laundering. The Financial Action Task Force has formulated clear and specific requirements for dealing with these individuals. Internationally, various jurisdictions such as the United Kingdom and the European Union have adopted effective legislation encompassing the 2003 Financial Action Task Force Recommendations. In South Africa the requirement to apply appropriate, risk based procedures to politically exposed persons has been limited to banks.
The aim of this research study was to identify whether the South African anti-money laundering regulatory framework, adequately addresses managing the risks of politically exposed persons. The regulatory frameworks of the United Kingdom and the European Union, as well as the requirements of the Financial Action Task Force, were used to determine whether best practice is followed in South Africa with regard to politically exposed persons. The process of how money is laundered has been examined as well as the methods that corrupt politically exposed persons use in order to launder money.
The study has shown that politically exposed persons are not regulated in South Africa in accordance with the Financial Action Task Force Recommendations issued in 2003, while the South African Anti-Money Laundering Regulatory Framework does not adequately address the risk posed by corrupt, politically exposed persons. Both international best practice and the recommendations of the World Bank were considered in terms of the way in which to address the risks posed by these persons effectively.Dissertation (MPhil)--University of Pretoria, 2013.
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Al-Abdullah, Muhammad. "AN ACTOR-NETWORK THEORY APPROACH IN INVESTIGATING THE INFORMATION SYSTEMS PERSPECTIVE OF ANTI-MONEY LAUNDERING COMPLIANCE THROUGH A CASE STUDY OF THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA) IMPLEMENTATION IN A JORDANIAN LOCAL BANK." VCU Scholars Compass, 2015. http://scholarscompass.vcu.edu/etd/3924.
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Implementation of the Foreign Account Tax Compliance Act (FATCA) goes beyond a technological modification to automate the identification of US clients and report their information to the IRS. FATCA implementation requires foreign financial institutions (FFIs) to learn the new requirements, to modify their organizational structures and their employees’ relationships and responsibilities, and to adjust the technology that helps the employees collect new FATCA-related information and to process that information so that it can be reported to the IRS in the correct format. In spite of that, research on FATCA implementation has focused on studying each constituent separately. However, according to the information systems (IS) body of research and from a systems thinking perspective, the whole (the bank that is complying with FATCA as a system) is more than the sum of its parts (the information, technology, and social structures that it includes). For this reason, this dissertation argues that in order to achieve an effective FATCA implementation and reduce tax evasion activity, FATCA implementation should be studied from an IS perspective. This will assist in appreciating the complexity of FATCA implementation and compliance and will help practitioners to better anticipate future uncertainties. The dissertation uses actor-network theory (ANT), as it is a socio-technical theory, to investigate the implementation of and compliance with FATCA in a Jordanian local bank. Our interpretation revealed a number of problems in the bank’s compliance initiative; among them were the issues of overlooking technology, information, and the bank’s customers as actors with interests of their own. Accordingly, we provide eight propositions that can enhance the effectiveness of FATCA compliance. Tax-evasion has been shown in the literature to be a predicate crime involving money laundering (ML), i.e., a crime that generates proceeds that need to be treated in secretive ways so that they can be falsely legitimized. We argue in this dissertation that the findings of our case study could provide lessons for the anti-money-laundering (AML) domain in relation to its structurally coupled domain of ML. Thus, we presented some lessons that can be tested in the ML/AML domains.
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Kaspar, Lundberg. "Varför anmäler revisorer få penningtvättsrapporter till Finanspolisen? : En kvalitativ studie om revisorers rapportering till Finanspolisen analyserat utifrån selektionsteori." Thesis, Södertörns högskola, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-31475.
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Purpose: Apply selection theory to the subject of money laundering. The aim of the study is to examine why auditors report few money laundering reports to the finacial intelligence. Method: Qualitative interviews for data collection. Frame of reference: Selection Theory formulated by the National Council for Crime Prevention, audit-expectationgap and the money laundering act. Results and conclusions: Money laundering reports from auditors to the financial intelligence police have been few, both presently and in the past. There are many causes for the few reports, a short conclusion reads as follows: Laundering is difficult and time-consuming to examine. Auditors do not consider it a part of their duties. They have a high threshold for reporting suspected money laundering, higher than the money-laundering act prescribes. It is fairly safe for auditors to avoid reporting without consequences for themselves. Some auditors fear the customer can claim a compensation charge if they send in an erroneous report. Through the study the author understood that auditors tend to be more loyal towards their employers than towards law enforcement authorities. The author finds it likely, that, to a large extent, auditors are happy to discontinue their mandate, when they find irregularities, rather than to report to the law enforcement authorities (FIU or Swedish Economic Crime Authority). Some shelf-corporation company auditors could probably prevent money laundering to a greater extent than they do today. Some shelf corporation divestments carried out are probably sold to persons who intend to commit tax offences, false accounting and fraud. The coordinator at the Financial Intelligence (FIU) police unit stated that unfortunately shelf-corporation auditors do not obey the money laundering act.Syfte: Tillämpa selektionsteori inom ämnet penningtvätt. Huvudutgångspunkten är att undersöka varför revisorer avger få penningtvättsrapporter till Finanspolisen. Metod: Kvalitativa intervjuer (13 stycken) för insamling av data. Referensram: Brottsförebyggande rådets selektionsteori, revisions-förväntningsgap samt penningtvättslagen. Resultat och slutsatser: Revisorer gör i dagsläget, och har även historiskt, gjort få penningtvättsrapporter till Finanspolisen. Många orsaker ligger till grund för rapporteringsgraden, nedan följer en kort sammanfattning. Penningtvätt är svårt och tidsödande att granska. Revisorer anser att det inte ingår i deras arbetsuppgift. Revisorer har en hög rapporteringströskel för misstänkt penningtvätt, högre än penningtvättslagen föreskriver. Det är tämligen riskfritt för revisorer att undvika rapportering, vissa revisorer upplever dessutom att risken för att kunden yrkar skadestånd vid en felaktig anmälan är stor. Författaren har genom studien förstått att revisorer är mer lojala mot sina uppdragsgivare än gentemot rättsvårdande myndigheter. Författaren finner troligt att revisorer i större utsträckning nöjer sig med att avsluta sitt uppdrag genom revisorsavsägelse då dessa finner oegentligheter än att anmäla till myndigheter (Finanspolisen eller Ekobrottsmyndigheten). Vissa lagerbolagsföretags revisorer kan sannolikt stävja penningtvätt i betydligt större utsträckning än de gör idag. En del lagerbolagsförsäljningar som genomförs, säljs troligen till personer som ämnar genomföra skattebrott, bokföringsbrott och bedrägerier. Tyvärr upplever samordnare på FIPO att lagerbolagsrevisorer inte följer penningtvättslagen.
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Norell, Stefan, and Nathalie Styren. "Externa och interna bankrevisorers yrkesutövning i det förebyggande arbetet mot penningtvätt." Thesis, Högskolan i Gävle, Avdelningen för ekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-18868.
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Titel: Bankrevisorers yrkesutövning i det förebyggande arbetet mot penningtvätt Syfte: Studien syfte är att öka förståelsen samt förklara hur externa och interna bankrevisorer arbetar förebyggande mot penningtvätt inom banksektorn. Syftet besvaras genom att undersöka hur penningtvättslagen tillämpas i bankrevisorers yrkesutövning, hur det arbetet förhåller sig till god revisionssed samt om berörda parter upplever ett förväntningsgap gällande bankrevisorers ansvar att upptäcka finansbrott, såsom penningtvätt. Metod: Studien har tillämpat en kvalitativ forskningsmetod för att studera hur externa och interna bankrevisorers yrkesutövande förhåller sig till det förebyggande arbetet mot penningtvätt. Detta har genomförts med hjälp av tio stycken semi-strukturerade intervjuer med externa och interna bankrevisorer samt berörda parter för att kunna bidra med ytterligare perspektiv. Resultat och slutsats: Ett resultat som studien kan påvisa är att varken interna eller externa bankrevisorer rapporterar misstänkt penningtvätt direkt till Finanspolisen. Interna bankrevisorer rapporterar misstänkt penningtvätt till Compliance-funktionen samt att externa bankrevisorer rapporterar misstänkt penningtvätt till företagets VD eller styrelse i första hand. Studien finner stöd i att god revisionssed är en betydande faktor i det förebyggande arbetet mot penningtvätt för externa och interna bankrevisorer. Det finns även ett förväntningsgap eftersom externa och interna bankrevisorer kan göra mer i deras yrkesutövning för att förebygga penningtvätt inom banksektorn. Förslag till vidare forskning: En liknande studie som enbart fokusera på banker som sysslar med kontanthantering samt att Revisorsnämndens perspektiv beaktas. Studiens bidrag: Studien bidrar till att kartlägga externa och interna bankrevisorers ansvar i det förebyggande arbetet mot penningtvätt inom banksektorn. Studiens resultat bidrar till företagsekonomisk forskning genom att öka förståelsen av samarbetet mellan samtliga parter för att förebygga penningtvätt inom banksektorn. Nyckelord: Bankrevisorer, internrevision, externrevision, penningtvätt, PTL, penningtvättslagen, god revisionssedTitle: Bank auditors professional practice in the prevention of money laundering Aim: The aim of this essay is to increase understanding and explain how external and internal bank auditors work to prevent money laundering in the banking sector. The aim is answered by examining how the Money Laundering Act apply in their professional practice, how the work relates to the generally accepted auditing standards and if concerned parties are experiencing a gap of expectations regarding bank auditors responsibility of detecting financial crimes such as money laundering. Method: The essay has applied a qualitative research method to study how external and internal bank auditors professional practice relates to the prevention of money laundering. This has been achieved by executing ten semi-structured interviews with external and internal bank auditors and other concerned parties to contribute additional perspectives. Results and Conclusions: The result of the essay shows that neither external nor internal bank auditors report suspected money laundering directly to the Finance Police. Internal bank auditors report suspected money laundering to the Compliance department and the external bank auditors report suspected money laundering to the company CEO or board in firsthand. The essay shows that the generally accepted auditing standards are a significant factor in the prevention of money laundering for external and internal bank auditors. The result shows a gap of expectations, the external and internal bank auditors can contribute more in their professional practice to the prevention of money laundering in the banking sector according to concerned parties. Suggestions for future research: A similar study focusing solely on banks with cash management including the Auditor Board´s perspective. Contributions of the essay: The essay helps to identify external and internal bank auditors responsibility in the prevention of money laundering in the banking sector. The results contribute to business research by increasing understanding of the cooperation between concerned parties to prevent money laundering in the banking sector. Keywords: bank auditors, internal audit, external audit, money laundering, PTL, the Money Laundering Act, generally accepted auditing standards
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Yusuf, Hoda, and Cidona Yonas. "I skuggan av AML (Anti Money Laundering Act) : En studie om hur lokala kontorsenheter i Sveriges storbanker förhåller sig till risk och regelefterlevnad vid AML-implementering." Thesis, Örebro universitet, Handelshögskolan vid Örebro Universitet, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-83123.
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German, Peter Maurice. "Confiscating the proceeds of crime : the amendments to Canada's Criminal Code, their force and effect." Thesis, University of British Columbia, 1990. http://hdl.handle.net/2429/28825.
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This thesis examines the amendments to Canada's Criminal Code which target the proceeds of crime by, inter alia, criminalizing money laundering and enabling the confiscation of assets. The amendments represent the central thrust of Canada's contribution in a global effort to stem the traffic in illicit drugs, Canada belatedly following the lead of the United States, Great Britain and Australia.
In the thesis, I argue that the amendments go much further than earlier crime control initiatives and represent a paradigmatic shift from the traditional, single transaction, individual-oriented structure of criminal law to one which is both property-driven and premised upon multiple-transactions perpetrated by criminal organizations. The amendments focus on the proceeds of crime, as opposed to the offender, individual or corporate, their avowed purpose being to neutralize criminal organizations rather than punish offenders.
The effectiveness of the amendments is inexorably tied to the speed by which criminal proceeds can be seized or restrained and thus they operate prospectively, in anticipation of a later conviction. In order to accomplish their objectives, the amendments draw upon concepts previously the preserve of the private law of contract and tort, introducing some which are foreign to the classic norms and traditions of criminal law and sentencing, both substantive and procedural.
The thesis examines the amendments from both a textual and a Charter perspective. In so doing, considerable emphasis is accorded the presumption of innocence, a strong legitimating force in criminal law. Integral to the presumption is the Crown's burden of proof - beyond a reasonable doubt. The legislation's adoption of the civil balance of probabilities test is, therefore, considered its weakest link. Other aspects of the legislation give rise to interpretive and Charter challenges.
The thesis also discusses the need for tracing mechanisms, mandatory financial transaction reporting, the development of a strike force approach to implementation and a sharing of proceeds by law enforcement agencies. Further, the thesis decries any use of the legislation as a tool for plea bargaining or to target petty criminals.Law, Peter A. Allard School of
Graduate
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Lai, Miu-suet Carol. "Money laundering and counter-money laundering in Hong Kong." Click to view the E-thesis via HKUTO, 2007. http://sunzi.lib.hku.hk/hkuto/record/B38927640.
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Lai, Miu-suet Carol, and 黎妙雪. "Money laundering and counter-money laundering in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2007. http://hub.hku.hk/bib/B38927640.
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Teichmann, Fabian M., and Madeleine Camprubi. "Money laundering through consulting firms." Universität Leipzig, 2019. https://ul.qucosa.de/id/qucosa%3A36368.
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The aim of this article is to illustrate potential conduits for money laundering in the consulting
sector in Austria, Germany, Liechtenstein, and Switzerland. A qualitative content
analysis of 100 semi-standardized expert interviews with both criminals and prevention
experts was conducted, along with a quantitative survey of 200 compliance officers, allowing
for the identification of concrete methods of money laundering in the consulting sector. Due
to their excellent reputation, consulting companies in German-speaking countries in Europe
continue to be extraordinarily attractive to money launderers. Most notably, they can be
used for layering and integration, as well as for working around various issues with tax
codes. As the qualitative findings are based on semi-standardized interviews, they are limited
to only the 100 interviewees’ perspectives. The identification of loopholes and weaknesses
in the current anti-money laundering mechanisms is meant to provide compliance officers,
law enforcement agencies, and legislators with valuable insights into how criminals operate,
with the aim of helping them to more effectively combat money laundering. While the
previous literature focuses on organizations fighting money laundering and on the improvement
of anti-money laundering measures, this article illustrates how money launderers
operate to avoid arrest. Prevention methods and criminal perspectives are equally taken
into account.
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Dusabe, Francis. "Rwanda’s responses to money laundering." University of the Western Cape, 2014. http://hdl.handle.net/11394/4404.
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Magister Legum - LLMIn 20 the years after the genocide that afflicted Rwanda, the country has made considerable progress towards developing human resources in the public sector. It has kick-started its economy and improved sectors such as public health and education. There is still a need to attract direct foreign investment to boost the economy even further. However, Rwanda needs to take precautionary measures to ensure that it does not fall prey to economic criminality which will impede its economic progress. The fact of the matter is that young transitional democracies are prone to attract economic delinquents who take advantage of loopholes in the law to advance their criminal goals. This is particularly so in a country such as Rwanda, where the government has to prioritise other pressing needs that must be addressed. This paper assesses the extent to which Rwanda is prepared to deal with the menace of money laundering, a threat that may well stunt its ambitions to build a strong economy.
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Cheong, Tat Man. "Money laundering data analysis and visualization." Thesis, University of Macau, 2011. http://umaclib3.umac.mo/record=b2492978.
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Akyay, Ilkay. "Problems Encountered in Money Laundering Investigations." Thesis, University of North Texas, 2001. https://digital.library.unt.edu/ark:/67531/metadc2856/.
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The purpose of this study is to identify how the U.S. is responding to money laundering and what kind of problems arise while countering it, beginning with a detailed description of money laundering, its stages, typologies, impacts, and complications. Due to the broad nature of this subject only three main issues form the focal point of this study: problems concerning the banking industry and other financial organizations, problems resulting from the limitations of law enforcement agencies, and problems arising from the lack of cooperation between and within financial institutions and law enforcement agencies. Several probable solutions to the above problems are identified: Considering the financial industry, there are loopholes in the Bank Secrecy Act (BSA) and in other regulations that apply to the industry. Thus, there is a comparison of the Subjective Model vs. Objective Model in terms of reporting systems for financial organizations. On the law enforcement side, the priority is the need to update and upgrade their technology and investigation mechanisms in order not to fall behind the criminals. Finally, cooperation is something that can be achieved through mutual respect and understanding of the priorities of each side, which can be achieved by the creation of an upper agency of whose members represent both sides of the combat efforts.
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Jacso-Potyka, Judit. "Bekämpfung der Geldwäscherei in Europa : unter besonderer Berücksichtigung des Geldwäschestrafrechts von Österreich, der Schweiz und Ungarn /." Berlin : Wien : BWV, Berliner Wissenschafts-Verlag ; NWV, Neuer Wissenschaftlicher Verlag, 2007. http://deposit.d-nb.de/cgi-bin/dokserv?id=2991411&prov=M&dok_var=1&dok_ext=htm.
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Müller, Christof. "Geldwäscherei : Motive, Formen, Abwehr : eine betriebswirtschaftliche Analyse /." Winterthur : H. Schellenberg, 1992. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=002967888&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Amali, Mohammed O. "Curbing money laundering : global reception and implementation of international anti-money laundering standards : a case study on Nigeria." Thesis, University of Huddersfield, 2016. http://eprints.hud.ac.uk/id/eprint/31396/.
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Anti-Money laundering legislation has become a major global issue, with nations and organisations under pressure to adhere and comply with strict control measures in place. The United States post 9/11 in league with other big Nations have been at the forefront of strict Anti-Money laundering initiatives, but a fair question to ask is how well the system is really doing? The implementation of the global AML framework is dependent upon the compliance of individual states, thereby making the presence of an adequate legal and institutional framework at national level a requisite requirement for an effective Anti-Money laundering system. Despite the incorporation of strict Anti-Money Laundering regulations into Nigerian laws, the misappropriation of Nigerian moneys, notably by public officials, has continued unabated. While the need for a concise and unambiguous harmonisation of international regulations cannot be overemphasised, and despite the concerted efforts in this regard, a trans-jurisdictional review by this researcher of both primary and secondary sources like conventions and academic literature have unearthed conceptual, legal, regulatory problems, as well as a seeming desire for theoretical, rather than practical compliance. In other words, global AML efforts seem more academic than practical. Accordingly, legal and regulatory reforms to International Anti-Money laundering initiatives can only be achieved with a proper appreciation of the culture and unique peculiarities of the receptive jurisdiction where emphasis is placed on the local environment rather than a mere response to International requirements for the sake of it. International AML regulations, and within this context, the FATF recommendations are meant for universal application, traversing the distinct quirks of diverse cultures, but the test here is its suitability or otherwise to the socio-cultural, political, economic and legal realities of Nigeria. The fleecing of Nigerian public moneys most notably by public officials has continued unabated despite the incorporation of strict AML laws.
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Jiang, Hua. "Money laundering control in Macau gaming industry." Thesis, University of Macau, 2010. http://umaclib3.umac.mo/record=b2147560.
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Joosten, Johann. "Combating cyber money laundering: selected jurisdictional issues." Thesis, University of the Western Cape, 2010. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_2570_1363012160.
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Li, Xue Bin. "Money laundering and its regulation in China." Thesis, Cardiff University, 2009. http://orca.cf.ac.uk/54966/.
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Money laundering activity in China emerged hundreds of years ago, although the concept of money laundering is recent terminology. The thesis provides an overview of money laundering history in China. This includes selected dynastic periods, the time between the creation of the People's Republic of China in 1949 and the beginning of economic reform, the resurgence of money laundering following the 1980s, and underground banking. It explores the money laundering 'problem' and contemporary responses in China. This includes discussion of the external pressures exerted by international bodies and agreements, including the influence of the United States, and an overview of the domestic Chinese response to the 'problem' of money laundering. Data collection methods included reviews of money laundering cases identified in newspaper and journal articles, and court cases. It also includes twenty (N=20) interviews with participants drawn from the fields of banking, police, security, entrepreneurs and members of the general public. These methods permitted the identification of twenty-three (N=23) cases that were subject to systematic analysis, and compared against international evidence on money laundering methods and predicate offences. Using the generic AML structure of prevention and enforcement components (Levi and Reuter 2006) that addresses the international standards, an effort is made to assess the potential impact of the AML regime in the context of China. The work concludes with discussion of the major themes that have emerged, and it offers recommendations for AML policy and further research on this topic.
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Tontoh, Francis. "Evaluation of Money Laundering Regulations in Ghana." Thesis, Blekinge Tekniska Högskola, Sektionen för management, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-1188.
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Purpose: The purpose of this thesis is to identify and appraise within the Ghanaian environment the level of regulations in combat of money laundering and terrorism financing, the extent of the regulation and the effectiveness of the regulations or laws. Method: Research methodology will be based on qualitative data collection and analysis approach which will consider the gathering of information personally by the researcher including interviews based on structured or semi-structures questions to potential respondents Theory: The theory considered various concepts of money laundering that exist. The chosen concepts identified the various typologies of the money laundering, the negative effects and the regulations adopted in the fight against money laundering in the light of internationally accepted standards. Analysis: The analysis was modeled around four set of issue as a means of evaluating the money laundering regulations in Ghana. They include extent of nation’s vulnerability to Money Laundering; existing Laws or Regulations; the Conformity of Laws or regulations to international standards and an overview of the new anti-money laundering law. Conclusion: Research and analysis revealed that the nation is susceptible to money laundering though it has existing regulations to combat the menace. The forms of money laundering are many and there seems to be very little public knowledge about money laundering. Financial sector of the economy is expanding and there is a need for a more rigorous means for the combat of laundering as its effect on the sector could be disastrous. The New Anti – Money Laundering law, Anti – Money Laundering Act 2008, Act 749 is timely but it has not been operational, the Financial Intelligence Center is yet to be set up since the enactment of the act in January in 2008; as at the time of writing this conclusion there is a new government in power and this government is yet to constitute a full cabinet of ministers or substantive ministers of state hence it is quite impossible to estimate when the Financial Intelligence Centre; according to France (BoG) during my interview with her, she mentioned that the Center is to be formed under the supervision of Ministry of Finance. Not withstanding, the yet to be formed Center, there has been some exiting laws or regulations from Bank of Ghana for the financial institutions in combat of money laundering and terrorism financing. 83% respondents agreed that there are existing regulations and Laws but only one respondent representing 17% indicted that those laws can best be cosmetic. The forms of existing regulations identified are as follows: The (KYC) Know Your Client or Know Your Customer Policy; (PEP) Politically Exposed Persons Policy; (CDD) Customer Due Diligence; (EDD) Enhanced Due Diligence and also regulations for banks to adopted a policy of setting threshold for which any cash or cheque deposit into an account should register to an investigate unit of the bank, such that any amount above the threshold raises an alarm for further investigation and so is any huge withdrawal request. In evaluating the existing regulations, two main assessment points were use as yardstick. They are conformity to international standards and effectiveness of the laws or regulations. Ghana is a member of the Inter-Governmental Action Group against Money Laundering and Terrorism Financing in West Africa (GIABA) which has formulated some for steps member countries to follow in their design of their internal policies in combat of Money Laundering. These steps are based on the 40 recommendation and the 9 special recommendations. Clearly it is noted that the few regulations or directives from Bank of Ghana conform to the FATF recommendations. For example • The (KYC) Know Your Customer directive, (CDD) Customer Due Diligence directive and (EDD) Enhanced Due Diligence directive that Bank of Ghana issued to the banks conform with Recommendations 4 to 12 of FATF. • The (PEP) Politically Exposed Persons directive which enables the banks deal with political figures of other countries is an international co-operation and a need for mutual legal assistance, these two conforms with the FAFT Recommendation 35 and FAFT recommendations 36 to 39 and again of FATF Recommendation 40. • The policies on threshold level also conforms to FAFT recommendations 17 to 21 as depicted in the literature review. From the examples given above there are clear indications that the regulations conform to international standards. The effectiveness of the regulation was set to detail or show how wide enough the regulation is in tackling the menace a stake, it should equally involve the institutions that will regulate, implement and enforce the regulations and finally the regulations should be enforced or to be seen a such. However the general picture is that the Laws or Regulations prior to the new Act 749 hasn’t been too effective. The respondents who agreed that there are existing laws or regulations once again agreed there are some lax in the enforcement of the regulations. Roi (SFO) believes that if there is any regulation at all, they can only be said to be just cosmetic.ftontoh@yahoo.com; +233244284956;+233244212902
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Nunes, Monica Maria, Ming-tak Kalwan Kwan, Rajvinder Singh, Wai-shun Wilson Tam, 羅嘉雯, and 譚威信. "Explaining money laundering with rational choice theory." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2014. http://hdl.handle.net/10722/205834.
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This research aims to explore if rational choice theory can be applied to explain money laundering in Hong Kong by drawing on the characteristics of stooges and their motives for colluding in money laundering activities and the effectiveness of imprisonment or other forms of punishments as a means of deterrence. An actor has limited cognitive capacity, makes decisions based on incomplete information and his actions reflect personal optimal beliefs (Piquero and Tibbetts, 2002; Hindmoor, 2006). Findings from the seven in-depth interviews conducted as part of the research and documentary reviews of local court cases support that financial reward is the major reason “why” offenders engage in money laundering activities at both the individual and institutional level. The findings also show that, in addition to ignorant and vulnerable individuals being chosen as stooges, well-regarded individuals and charitable organizations are also possible candidates. The research highlights a luring process experienced by the stooges which supports the psychosocial dynamics of rational choice. The research findings also challenge one of the cornerstones of classical criminology that maximum penalty is an effective means of deterrence.published_or_final_version
Criminology
Master
Master of Social Sciences
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Ali, Shazeeda Ashmeen. "Money laundering control : a Commonwealth Caribbean perspective." Thesis, University of London, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.402141.
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Mott, Bryan. "Terrorist networks, money laundering schemes, and nation stability." Thesis, Monterey, California : Naval Postgraduate School, 2010. http://edocs.nps.edu/npspubs/scholarly/theses/2010/Jun/10Jun%5FMott.pdf.
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Thesis (M.S. in Defense Analysis)--Naval Postgraduate School, June 2010.Thesis Advisor: Lee, Doowan. ; Second Reader: Berger, Marcos. "June 2010." Description based on title screen as viewed on July 16, 2010. Author(s) subject terms: Terrorist networks, organized crime, illicit activities, money laundering, financial crimes, nation-state, exploit, infrastructures. Includes bibliographical references (p. 47-50). Also available in print.
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Durrieu, Roberto. "Rethinking money laundering offences : a global comparative analysis." Thesis, University of Oxford, 2012. http://ora.ox.ac.uk/objects/uuid:a9511b88-fec2-40ce-86ec-e5ef380cb0ca.
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Since the late 1980s, efforts made by the international community to deal with the complex and global problem of money laundering have stimulated the creation and definition of the so-called 'international crime of money laundering', which is included in various United Nations and Council of Europe international treaties, as well as European Union Directives. The Central purpose of this thesis is to investigate if the main goal of effectiveness in the adaptation of the international crime of money laundering at the domestic level, might undermine other values that international law is seeking to protect, namely the guarantee of due process and the adequate protection of human rights principles. Then, if the adoption of any element of the crime shows to be inconsistent with civil rights and guarantees, to propose how deficiencies could be remedied.
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Chitsime, Collin Brian Sukali. "Mobile Money Payments as Vehicles for Money Laundering: A Case Study of Malawi." University of the Western Cape, 2016. http://hdl.handle.net/11394/5706.
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Magister Legum - LLM (Criminal Justice and Procedure)Money laundering is defined as the process of converting the proceeds derived from a wide range of underlying criminal offences, called predicate offences, to apparently legitimate property. In other words, it is the process of washing away the stain of illegality from the proceeds of crime in order to give them the appearance of legality. In fact, the nomenclature of the practice itself was inspired by America�s notorious gangster Al Capone�s practice of channelling the proceeds of his criminal enterprise through his laundromats in order to cloak their illegality so as to endow them with an appearance of legality. The crime of money laundering has been a scourge on the economies of the world, hence it has become a crime of international concern. The international community has developed numerous international treaty norms obligating states to criminalise money laundering. These norms, when incorporated into national legislation, are expected to serve as the legal basis not only for national prosecution of money laundering offences but also for international mutual legal assistance in AML (for example, international co-operation in the confiscation of criminal proceeds and extradition of money launderers).
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Kao, Albert L. "INCREASED ANTI-MONEY LAUNDERING BANKING REGULATIONS AND TERRORISM PROSECUTIONS." Monterey California. Naval Postgraduate School, 2013. http://hdl.handle.net/10945/32842.
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CHDS State/LocalAfter 9/11, anti-money laundering banking regulations were increased to counter terrorism finance. This study attempts to identify whether increasing banking regulations has countered terrorism finance by reviewing terrorism prosecutions. This study looked at federal terrorism prosecutions from January 2004 through April 2009. The study reviewed court documents and case backgrounds for indicators that anti-money laundering banking regulations were useful to the terrorism prosecution by either detecting terrorism financing or by supporting other charges, such as money laundering. The study did not find that banking regulations detected terrorist financing. The avoidance of banking regulations was used to support money laundering charges in two cases; however, pre-9/11 regulations would have sufficed. The study found that increasing anti-money laundering banking regulations had limited effects on countering terrorism financing. How anti-money laundering banking regulations are implemented within a counter-terrorism finance regime should be reevaluated.
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Danková, Diana. "(Anti) Money laundering and its macroeconomic and microeconomic perspective." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-262293.
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The primary objective of this diploma thesis is to comprehensively present the issue of money laundering not only on a macro level but also in terms of commercial bank and its microeconomic response to it. The main contribution of this diploma thesis is to identify the global indicators, which should be considered when drafting strategies in the fight against the legalization of proceeds from crimes. This diploma thesis addresses the changes caused by current globalization and highlights the dangerous effects it has on evolution of this consequent criminal activity together with evaluation of its potential in the future. Due to the tense situation in Europe caused by the series of terrorist attacks, part of the work is dedicated to the explanation of the relationship between terrorist financing and money laundering.
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Zoppei, Verena. "“Tax evasion as a predicate offence for money laundering”." Thesis, University of the Western Cape, 2012. http://hdl.handle.net/11394/4448.
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Magister Legum - LLMThis paper discusses the progress of international anti-money laundering (AML) law with regard to making tax evasion a predicate offence for the crime of money laundering (ML). This paper will focus particularly on the recent amendments that the Financial Action Task Force (FATF) made to its 40 + 9 Recommendations. The FATF Recommendations are recognised as the global AML standards. The amendments to these have resulted in tax crimes being made designated offences for ML. The aim of this paper is to reconstruct the rationale behind this change and to assess the implications of bringing fiscal crimes under the AML regime.
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Pena-Guzman, Claudia P. "Exploitation of free markets and globalization to finance terrorists." Monterey, Calif. : Naval Postgraduate School, 2008. http://edocs.nps.edu/npspubs/scholarly/MBAPR/2008/Sept/08Sep%5FPena%5FGuzman%5FMBA.pdf.
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"Submitted in partial fulfillment of the requirements for the degree of Master of Business Administration from the Naval Postgraduate School, September 2008."Advisor(s): San Miguel, Joseph G. ; Freeman, Michael. "September 2008." "MBA professional report"--Cover. Description based on title screen as viewed on November 4, 2008. Includes bibliographical references (p. 47-52). Also available in print.
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Sittlington, Samuel Brian Kerr. "What are the factors that influence the effectiveness of anti-money laundering policy implementation in the UK? : exploring money laundering crime and policy." Thesis, Northumbria University, 2014. http://nrl.northumbria.ac.uk/36465/.
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Anti-Money Laundering has become the term for many stakeholders including Financial Institutions and law enforcement agencies that attempt to prevent the movement of money obtained from criminal activity. This research combines two important areas within the money laundering arena: Anti-Money Laundering preventative measures and Anti-Money Laundering Policy. This study aims to discover significant determinants that influence the current anti-money laundering policy (AML) by understanding the relationship between criminal activity, stakeholder activity and public policy. This research adopts a pragmatic approach which embraces the use of mixed methods. The strategy using mixed method (triangulation) approach for data collection increase the rigor and robustness of the research in terms of exploration, validation and confirmation of findings. From a pragmatic perspective a better understanding of the research problem could be achieved that overcomes complexities in the context of the research, such as access to key stakeholders. The research question “What are the factors that influence the effectiveness of AML policy implementation in the UK?” is answered using a four phase approach to data collection and analysis that incorporates theme identification from literature, focus group interviews, survey questionnaire and verification of factors through individual participation. The findings of the research point to three areas of activity that could be confirmed as areas in which policy changes can be applied. These are ‘sentencing’ as a deterrent to crime; ‘reporting regime’ for suspicious activity reports, and ‘criminal knowledge’ based on law enforcement tactics’. The methods used also provided an abundance of additional material that set the findings in their appropriate environment.
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Gonçalves, Maria. "“Now You See It. Now You Don't”- How Cryptocurrencies Enable Money Laundering." Thesis, Malmö universitet, Fakulteten för hälsa och samhälle (HS), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-25432.
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Money laundering is a non-violent crime, however when successfully executed it has a negative impact on society, as it tends to support other illicit activities, including terrorism. As was the case for other financial crimes, the internet opened the door for new tools that enable criminals to launder their illicit profits. One of these tools is cryptocurrency.This paper takes the form of a literature review, in order to find the most relevant and important work within the research topic, and to identify central issues associated with laundering money through cryptocurrencies. It aims to explain the crypto-laundering process, methods and features that make cryptocurrencies tempting to criminals when searching tools to launder their illicit profits.The findings of this literature review demonstrate that cryptocurrencies have more characteristics that appeal to launderers than deters them. The results also show the existence of different methods that are employed in crypto-laundering and how it mirrors traditional money laundering stages, making evident that crypto-laundering is a real threat. Due to these results, it is essential that the criminological community delve into financial crimes perpetrated in the online environment.
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Le, Nguyen Chat. "International anti-money laundering standards and their implementation by Vietnam." Thesis, University of Canterbury. School of Law, 2014. http://hdl.handle.net/10092/9827.
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In recent decades, the international community has made a concerted effort to develop the international Anti-Money Laundering Standards (AMLSs) and enhance their implementation at a national level. It is submitted that the AMLSs serve various laudable aims and States should adequately implement those standards. In fact, most States, including Vietnam, have been striving for the highest level of compliance with the AMLSs. This thesis suggests that external pressure and State socialization has compelled developing States to implement and comply with the international AMLSs, and Vietnam is an obvious case study.
This thesis examines concisely the development and underlying rationales of a number of key categories of international AMLSs, and the difference in national implementation of each category. The implementation of such multifaceted standards in a transitional State, like Vietnam, requires substantial legal and administrative reform, which often faces numerous domestic hurdles. The examination of Vietnamese AML legislation has revealed that while significant deficiencies remain, certain categories of AMLSs have been transformed wholesale into Vietnamese law. As a part of the objectives of this study, suggestions for law reform have been made to close the gaps between the AML laws of Vietnam and the international standards. It is likely that Vietnam, within a short time, will revise the laws in order to obtain a better degree of compliance. However, given the political, economic and legal factors of Vietnam, this thesis argues that the enforcement of the laws in practice will be still limited. In other words, in the near future Vietnam can achieve what appears to be a high level of compliance with the international AMLSs, but only on paper.
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Kuhn, April. "Human trafficking| Identification and prevention through anti-money laundering efforts." Thesis, Utica College, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=1555422.
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Human trafficking is one of the most profitable and quickly growing organized crimes. Human trafficking occurs across the globe, including in the United States. The high profits from human trafficking outweigh the risks to the trafficker, making this a lucrative crime. Victims of trafficking are often not willing to come forward, making prosecution difficult. Federal laws and regulations have evolved over the years to be a valuable tool. However, inconsistencies in state laws surrounding trafficking often leave the burden of identification and prosecution on federal agencies. Anti-money laundering efforts are one of the ways this crime can be identified and prevented. Human trafficking profiles of high risk businesses, trafficker characteristics, victim characteristics, and money laundering red flags should be combined to create a typology that can be used by financial institutions and law enforcement to identify possible human trafficking activity. Existing money laundering statutes should be used more often during the prosecution stage to add additional sentencing times and allow for seizure of assets.
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Gololobov, Dmitry. "The Yukos case : the new dimension in money laundering cases." Thesis, Queen Mary, University of London, 2008. http://qmro.qmul.ac.uk/xmlui/handle/123456789/1789.
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The Yukos case is known for its unprecedented character and complexity as a Russian corporate, tax and money laundering case. It continues to raise political and legal problems, both domestically and internationally, and has already become a symbol of the contemporary Russian political regime. This dissertation analyses in detail the criminal and corporate aspects of the case, and focuses mainly on the reasons for, and the development and implications of the embezzlement and money laundering case, which is known as the backbone of the Yukos Affair. The thesis is primarily based on a comparative analysis of the international academic findings, case law and the Russian data on the case. The dissertation also discusses in detail the political nature of the Yukos Affair, whilst attempting to show the substantive aspects of case. The findings of the dissertation highlight new types of risk that result from the politically motivated application of Russian anti money laundering legislation to the activities of the international corporate groups, which has been enacted on the basis of the internationally recognised principles. The paper also describes the nexus between the corporate tax evasion schemes, which have been widely used in Russia, and money laundering risks for corporations. Such a situation creates potentially unavoidable criminal risks for all corporate groups that have functioned in Russia over the recent decade. The thesis shows that the corporations, which invest directly and indirectly in the Russian economy, must be aware of the politically driven corporate criminal risks, which quite commonly are not reflected in the corporate disclosure data, and remain unnoticed by the investors. The paper is unique as reflects the personal experiences of the author as the longterm leading lawyer to the Yukos group and as the consultant on the Yukos-related cases.
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Naheem, Mohammed Ahmad. "Trade Based Money Laundering : exploring the implications for international banks." Thesis, University of Wolverhampton, 2017. http://hdl.handle.net/2436/620745.
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Written in response to a current gap in academic and industry based literature, this thesis was written on the topic of Trade Based Money Laundering (TBML) and risk assessment, within the banking context. Despite the increased use of TBML, most academic descriptions of money laundering have used the cash based model of placement and integration of large cash deposits acquired from criminal activity, which are then merged into legitimate pre-existing funds. However, there are a significant number of examples to show that cash transferred into goods and then shipped to other countries can be easier to move and less conspicuous or traceable than simple cash based deposits. One of the main challenges for detecting shipping based laundering techniques is that they involve a number of agencies sharing data and information, in order to catch the criminals. Simple banking checks may not always elicit the required information without verification from either customs or law enforcement agencies. The research sought to identify the current challenges and issues facing risk assessment professionals in the banking sector and to identify gaps in the current systems being used. The data collected included interviews and survey information taken from professionals working on AML risk assessment in banking and financial institutions from across the globe. In addition to the description of different money laundering schemes, much of the current academic discussion on money laundering in banking has focused on the regulation requirements for financial institutions to stop money laundering activity, but there has been little empirical guidance on how regulation can be adapted and implemented at the individual banking level. This research accessed a number of legal cases available in the public domain, which were analysed to see how and where some of the larger banks have failed to implement current anti-money laundering controls and to consider how this could impact on the detection of TBML activity. This research uses an Agency theory model to look at the pressures banks are under to manage client’s accounts efficiently, versus the requirements of outside regulation to undertake extensive checks on business transactions and accounts. Finally, the researcher proposed a simple risk matrix approach that developed the current thinking of client behaviour and transaction monitoring risk analysis associated with cash based laundering, to develop a four-point risk model that added geography and third party behaviour, to account for shipping and trade based laundering activity.
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Wu, Qian Huai. "Perspectives of casino staff on anti-money laundering in Macau." Thesis, University of Macau, 2016. http://umaclib3.umac.mo/record=b3534651.
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Alrahoomi, Juma. "The policing of money laundering : the role of Dubai police." Thesis, Northumbria University, 2011. http://nrl.northumbria.ac.uk/4455/.
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This thesis examines trends and issues in the policing of money laundering in Dubai focusing on the role of Dubai Police in money laundering control. It acknowledges that money laundering is a global phenomenon and Dubai is not an exception. It explores the existing governmental initiatives aimed at addressing money laundering and the financing of terrorism. Whilst the unit of analysis in this thesis is the Emirate of Dubai, the thesis also considered the impact of regional (GCC) and international legislations and regulations (UN and FATF) on the policing of money laundering in Dubai. It is argued in this thesis that the major problem with policing of money laundering in Dubai is the lack of accountability of the AMLSCU that plays a leading role in the fight against money laundering. In addition, the information sharing amongst various government agencies and financial institutions is extremely poor. Where information pertaining to money laundering cases is shared, they are inconsistent and haphazard. Consequently, the government is facing problems to effectively combat money laundering in the Emirate. Other factors identified as major impediments are the lack of national database of money laundering cases which can be shared amongst the Police, the Customs Authority and the AMLSCU of Central Bank of UAE. The thesis also argues that poor training and lack of multi-agency/ interagency working is making the work of Dubai police difficult. Finally, it is argued that an a formal, integrated and intelligence-led information sharing model such as the UK National Intelligence Model (that draws on the importance of multi-agency working, information sharing and accountability) can serve as a more effective approach to the policing of money laundering in Dubai.
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Oliveira, Inês Sofia de. "Anti-money laundering : the conditions for global governance and harmonisation." Thesis, University of Edinburgh, 2015. http://hdl.handle.net/1842/15922.
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This thesis advances global governance literature by focusing on the conditions under which procedural harmonisation occurs and how it is characterised. It suggests that the existence of a network of intergovernmental organisations (IGOs) complements great powers’ action and acts as a force for harmonisation in the making of international anti-money laundering (AML) standards. Procedural harmonisation is identified firstly, through a discussion on great power coalitions and how their interests set international agendas and impose compliance. Secondly, it is also recognised as an outcome of the IGOs’ network action through shared preferences, resource exchanges and stable relationships. Ultimately, the analysis determines that great powers are a necessary but not sufficient condition for procedural harmonisation, which is moreover favoured when legitimacy, expertise, and the need to achieve compliance are present. In sum, the thesis discusses the impact of international actors’ interactions in the making of international AML standards from 1989 to 2014, particularly the development of FATF Recommendations on ‘Customer Due Diligence’. The analysis identifies that the United States and the European Union, as great powers and members to the G-7, are the most influential actors. However, it adds that the IGOs network structure created between the Financial Action Task Force (FATF), the International Monetary Fund, the World Bank, the United Nations, and the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism is also a necessary actor to the achievement of procedural harmonisation. Data analysis is carried out through process-tracing, which triangulates elite interviews and non-participant observation with primary and secondary documents of legal, policy and expert nature. This thesis concludes that: a) procedural harmonisation is a product of international cooperation; b) IGOs gain influence in standard-making through network structures; and, c) procedural harmonisation may be an example to future global governance strategies if complemented with levels of legitimacy, expertise and the need to achieve compliance.
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Huang, Yun-hsuan, and 黃云宣. "Money Laundering Crime (Money Laundering Control Act Article11 Item1and 2)." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/22247982049408635003.
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Cheng, Hui-Ling, and 鄭惠玲. "A comparative study of financial supervision for money laundering-an analysis of Taiwan and USA with respect to The Money Laundering Control Act." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/t2qgrc.
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碩士國立臺灣海洋大學
海洋法律研究所
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The term “money laundering” has become an increasing focal point of international concern in recent years, as well as being an issue of extensive public discussion. Money laundering is defined by concealing or covering up the source and nature of a business’s finances through illegal means in an effort to make the profit gained appear legitimate.Money laundering has a negative social and economic effect on society. Not only does it result in criminal acts being free from legal penalty, it also encourages new patterns of crime to emerge that subsequently damage the reputation of financial institutions, disrupt national financial order, and destroy economic stabilization. Due to the scientific and technological progress of recent years, the means of financial transaction has diversified greatly so that almost all models of financial transaction can be used as tools for easy money laundering manipulation. Of those financial transactions, financial institution is the easiest to be manipulated by criminals. As a result of this, finding ways to a build sound money laundering control system and prevent money laundering from criminals effectively is a major issue for international governments. Moreover, building a sound money laundering control system that will also improve internal functioning for financial institutions while enhancing risk management is vital to establishing a more effective defense function. However, what is money laundering? What exactly does money laundering mean? Furthermore, what does money laundering carry so much weight worldwide, and why is it deemed a crime by all countries? The main reason that strict guidelines are needed is that laundering has a severe impact in regard to national legal order and economic performance. Even more serious is that money laundering often encompasses other illegal activity from various criminal organisations, such as the underground drug trade, economic fraud, the funding of international terrorist activities, and crimes related to actions like blackmail, kidnapping, violent coercion and insider trading. Preventing the activities from international terrorism organization is even more vital for all countries especially after terrorist attack incidents. As terrorist activities are often organized crimes and their source of fund usually gains from money laundering activities. Therfore, detering money laundering effectively could achieve purposes of cracking down international terrorist activities and prevent major crimes. The nature of money laundering is transnational, cross-regional, and cross-locational, however, due to the diversity conditions of each country, there are different perceptions of money laundering between nations along with different governmental rules. For that reason, the legislative models of money laundering control and its allied measures differ. As a result, cracking down on transnational money laundering cannot be achieved effectively through just one of the existing means of operation. In Taiwan, we face new patterns of crime related to money laundering activities. The Money Laundering Control Act was enacted in October 1996, and is the first special law for money laundering control in Asia. After years of enforcement, some elements of the Act were deemed unsuitable as they have proven too difficult to enforce practically in the process of application. Accordingly, the Act has been twice amended in January 2003 and December 2016. Rather than making occasional amendments to the law once an issue arises, the Taiwanese government should arguably be more vigilant on potential problems before they occur by giving greater control to relevant financial institutions. Most Taiwanese workers based in financial institutions and law enforcement authority are not familiar with The Money Laundering Control Act, and very few university courses has been taught in the department of law. This could explain the seeming lack of general respect for our financial environment and systems across the country. We live in a capitalist country where we are all involved in a high proportion of financial business activity to some degree, yet we largely ignore the necessary cost and social responsibility that financial services require for financial services. For the past few years, many financial malfeasance cases have erupted, such as the Panama Papers scandal and international funding of terrorist groups. This has consequently added to the need for more robust international money laundering and counter terrorist controls. Moreover, we will face the third round of the Asia/Pacific Group assessment soon, including submitting a national report before the end of 2017 and receiving the season 4 mutual evaluation in 2018. This comes a full decade after the second round of mutual evaluation in 2007. If the legal system is not revaluated in time, the practice will again not be changed. The New York Branch of Mega International Commerical Bank was fined by the NYDFS （New York Department of financial service）on August 19th 2016 for violating the Money Laundering Control Act, and was penalized with a 1.8 billion (US dollars) fine, the highest in Taiwan’s financial history. But what was the reason for it? The main focus of this dissertation is to analyze differences between the financial supervision for money laundering control in the Taiwanese and USA governments, while making recommendations on how related financial institutions can enhance money laundering control in Taiwan, in the hope of achieving a better preventive system. Using Mega malfeasance case as an example, this study has analyzed the differences between the Taiwanese and USA systems with respect to the financial supervision mechanism in an attempt to find out the shortcomings of this system in Taiwan. The study then presents recommendations on how the authorities can improve Taiwan’s financial supervision system, in the hope that the recommendations assist in carrying out Taiwan’s financial supervision policy more effectively to enhance the financial institutions’ managerial efficiency, allowing the country to pass the third round of Asia/Pacific Group on Money Laundering (APG) successfully.
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Van, Jaarsveld Izelde Louise. "Aspects of money laundering in South African law." Thesis, 2011. http://hdl.handle.net/10500/5091.
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Money laundering involves activities which are aimed at concealing benefits that were acquired
through criminal means for the purpose of making them appear legitimately acquired. Money
laundering promotes criminal activities in South Africa because it allows criminals to keep the
benefits that they acquired through their criminal activities. It takes place through a variety of
schemes which include the use of banks. In this sense money laundering control is based on the
premise that banks must be protected from providing criminals with the means to launder the
benefits of their criminal activities.
The Financial Intelligence Centre Act 38 of 2001 (‘FICA’) in aggregate with the
Prevention of Organised Crime Act 121 of 1998 (‘POCA’) form the backbone of South Africa’s
anti-money laundering regime. Like its international counterparts FICA imposes onerous duties
on banks seeing that they are most often used by criminals as conduits to launder the benefits of
crime. In turn, POCA criminalises activities in relation to the benefits of crime and delineates
civil proceedings aimed at forfeiting the benefits of crime to the state. This study identifies the
idiosyncrasies of the South African anti-money laundering regime and forwards
recommendations aimed at improving its structure.
To this end nine issues in relation to money laundering control and banks are investigated.
The investigation fundamentally reveals that money laundering control holds unforeseen
consequences for banks. In particular, a bank that receives the benefits of crimes such as fraud
or theft faces prosecution if it fails to heed FICA’s money laundering control duties, for example,
the filing of a suspicious transaction report. However, if the bank files a suspicious transaction
report, it may be sued in civil court by the customer for breach of contract. In addition, if the bank
parted with the benefits of fraud or theft whilst suspecting that the account holder may not be
entitled to payment thereof, it may be sued by the victim of fraud or theft who seeks to recover
loss suffered at the hand of the fraudster or thief from the bank.
Ultimately, this study illustrates that amendment of some of the provisions of South
Africa’s anti-money laundering legislation should enable banks to manage the aforementioned
and other unforeseen consequences of money laundering control whilst at the same time
contribute to the South African anti-money laundering effort.Criminal and Procedural Law
Mercantile Law
LL.D.
48
CHUNG, YAO, and 鍾瑤. "Study on the Evolution of Anti-Money Laundering Act in China and Taiwan." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/25355559380511944587.
Full textAbstract:
碩士中國文化大學
法律學研究所
98
Money Laundering is international crime. The paper Summarized conventions essence in order to could further understand the current international trend of Anti-Money Laundering Act. Recently China and Taiwan paid attention to Anti-Money Laundering Act and legislated about them. However, Anti-Money Laundering Act in China and Taiwan are different. The paper differentiated between Money Laundering Crime and Money Laundering administrative control, and made the comparison and analysis to understand the advantages and disadvantages in the System of China and Taiwan, and hopes to could further make amendments. Besides, Cross-border Money Laundering questions are serious in China and Taiwan. The paper investigated “Cross-strait Cooperation in Fighting Crime and Mutual Legal Assistance Agreement” and understands the agreement and the loss of legal system in Taiwan, and offers the way to prevent Money Laundering in China and Taiwan Finally.
49
Lee, Yi-Ju, and 李意如. "The Research on The Money Laundering Control Act in the Republic of China." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/89724005655037884449.
Full text
50
Naicker, Asogan. "Money laundering : fiscal and economic implications and the potential impact of the financial intelligence centre act (FICA)." Thesis, 2004. http://hdl.handle.net/10413/1720.
Full textAbstract:
Money laundering is the act of converting money gained from illegal activity, such as drug smuggling, into money that appears legitimate and in which the source cannot be traced to the illegal activi ty. Criminal proceeds also include that which is derived from tax evasion. Estimates of the scale of money laundering globally range between 2 and 5% of the worlds Gross Domestic Product. Another study refers to money laundering as the third largest industry globally. Money laundering has devastating consequences for countries individually and for the global economy as a whole. Potential macroeconomic consequences include inexplicable changes in money demand, greater prudential risks to banks' soundness, contamination effects on legal financial transactions and greater volatility of international capital flows and exchange rates due to unanticipated cross-border asset transfers. A number of initiatives have been established for dealing with the problem at international level. Amongst the most significant is the formation of the Financial Action Task Force (FATF), a body that was established by the G-7 nations in 1989 to develop a coordinated international 096572 response to money laundering. South Africa was recently accepted as a full member of the FAFT, having satisfied the FATF recommendations with the implementation of a Financial Intelligence Centre Act. The provisions of the Act came into effect on 1 June 2003. The Act imposes reporting obligations on accountable institutions like banks, insurance companies, estate agent and casinos. The Financial Intelligence Centre (FIC) is established by the Act in order to identify the proceeds of unlawful activities and to combat money-laundering activi ties. It aims to do so by making information collected by it available to investigating authorities (South African Police, Scorpions, Asset Forfeiture Unit etc. including SARS). The FIC will in the course of its functions build up a database of information, which it will retain and utilise to support the above-mentioned bodies in the performance of their functions. The FICA creates a special relationship particularly with SARS. The FIC data will assist SARS to combat tax evasion and to collect taxes more effectively. The Act explicitly requires all institutions to report any transactions that may be relevant to the investigation of any evasion or attempted evasion of any tax, levy or duty. Money laundering by its very nature does not lend itself to being accurately measured but based on estimates discussed above, this can amount to a substantial loss to the fiscus. The estimated range of between 2 and 5% of the world's GDP would translate to between R24 and R60 billion being laundered annually in South Africa. If one applies the minimum marginal tax rate of 18%, one arrives at a potential loss of between R4.32 and RI0.8 billion to the fiscus. Whilst the new Financial Intelligence Centre Act cannot totally eradicate the laundering of undeclared or criminal proceeds, the many obligations now placed on accountable institutions in terms of the Act is most likely to be a further deterrent or obstacle to tax evasion.Thesis (M.Com.)-University of KwaZulu-Natal, 2004.