AMLChain: Supporting Anti-money Laundering, Privacy-Preserving, Auditable Distributed Ledger

2022 ◽  
pp. 50-67
Author(s):  
Yueyue He ◽  
Jiageng Chen
Keyword(s):  
Money Laundering ◽  
Privacy Preserving ◽  
Distributed Ledger

scholarly journals Proposal for Customer Identification Service Model Based on Distributed Ledger Technology to Transfer Virtual Assets

2021 ◽  
Vol 5 (3) ◽  
pp. 31
Author(s):  
Keundug Park ◽  
Heung-Youl Youm
Keyword(s):  
Money Laundering ◽  
Service Providers ◽  
Task Force ◽  
Service Model ◽  
Cross Border ◽  
Model Based ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Customer Identification ◽  
Financial Action Task

Recently, cross-border transfers using blockchain-based virtual assets (cryptocurrency) have been increasing. However, due to the anonymity of blockchain, there is a problem related to money laundering because the virtual asset service providers cannot identify the originators and the beneficiaries. In addition, the international anti-money-laundering organization (the Financial Action Task Force, FATF) has placed anti-money-laundering obligations on virtual asset service providers through anti-money-laundering guidance for virtual assets issued in June 2019. This paper proposes a customer identification service model based on distributed ledger technology (DLT) that enables virtual asset service providers to verify the identity of the originators and beneficiaries.

scholarly journals A Privacy-Preserving Healthcare Framework Using Hyperledger Fabric

Sensors ◽  
2020 ◽  
Vol 20 (22) ◽  
pp. 6587
Author(s):  
Charalampos Stamatellis ◽  
Pavlos Papadopoulos ◽  
Nikolaos Pitropakis ◽  
Sokratis Katsikas ◽  
William J. Buchanan
Keyword(s):  
Privacy Preserving ◽  
Management Systems ◽  
Proof Of Concept ◽  
Current Management ◽  
Experimental Performance ◽  
Security Attack ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Storage Solutions ◽  
Management Approaches

Electronic health record (EHR) management systems require the adoption of effective technologies when health information is being exchanged. Current management approaches often face risks that may expose medical record storage solutions to common security attack vectors. However, healthcare-oriented blockchain solutions can provide a decentralized, anonymous and secure EHR handling approach. This paper presents PREHEALTH, a privacy-preserving EHR management solution that uses distributed ledger technology and an Identity Mixer (Idemix). The paper describes a proof-of-concept implementation that uses the Hyperledger Fabric’s permissioned blockchain framework. The proposed solution is able to store patient records effectively whilst providing anonymity and unlinkability. Experimental performance evaluation results demonstrate the scheme’s efficiency and feasibility for real-world scale deployment.

scholarly journals A Privacy Preserving Distributed Ledger Framework for Global Human Resource Record Management: The Blockchain Aspect

IEEE Access ◽  
2020 ◽  
Vol 8 ◽  
pp. 96455-96467
Author(s):  
Tai-Hoon Kim ◽  
Gulshan Kumar ◽  
Rahul Saha ◽  
Mritunjay Kumar Rai ◽  
William J. Buchanan ◽  
...  
Keyword(s):  
Human Resource ◽  
Privacy Preserving ◽  
Record Management ◽  
Distributed Ledger

ANALISIS IMPLEMENTASI PENCEGAHAN PENCUCIAN UANG MENGGUNAKAN CUSTOMER DAN ENHACED DUE DILLIGENCE DI BANK SYARIAH MANDIRI JAKARTA

Paradigma ◽  
2020 ◽  
Vol 17 (1) ◽  
pp. 72-86
Author(s):  
Siti Noviatun ◽  
Isfandayani
Keyword(s):  
Money Laundering ◽  
Data Retrieval ◽  
Data Display ◽  
Suspicious Transaction ◽  
Qualitative Descriptive ◽  
Proceeds Of Crime ◽  
The Government ◽  
Transaction Services ◽  
Data Reductions ◽  
Descriptive Method

Abstract             The main fuction of the Bank as an funding and lending activities by offering various types of financial transaction services an attractive choice for people who do money laundering to hide money proceeds of crime. Because of that the government and Indonesian Banks make regulations related prevent money laundering that contains Customer Due Dilligence and Enhanced Due Dilligence. Bank Mandiri Syariah has implementation Customer Due Dilligence and Enhanced Due Dilligence as an effort to prevent money laundering. This analyze aims for knowing implementation Customer Due Dilligence and Enhanced Due Dilligence that has been applied by Bank Syariah Mandiri. In this study using a qualitative descriptive method. Data retrieval is done by observation, interviews and documentation to three sources of informants Bank Syariah Mandiri KCP Bekasi Timur and one sources of informants that specifically handles money laundering prevention program that is SKAP( Satuan Kerja APU PPT) Bank Mandiri Syariah. Data analysis will be done by doing three steps, they are; data reductions, data display, and verification.The observation result shows that implementation Customer Due Dilligence done at the time prospective customer open the account and the Bank doubt information customer by doing identification and verification. implementation Enhanced Due Dilligence is done to customers Politically Exposed Person/ High Risk open the account, but in practiceat Bank Syariah Mandiri KCP Bekasi Timur done when there is suspicious transaction or there is a case. Reporting process suspicious transaction through the system SIAP (System Aplikasi APU PPT) to Satuan Kerja APU PPT (SKAP) Bank Syariah Mandiri then SKAP reports to PPATK (Pusat Pelaporan Analisis Transaksi Keuangan). From implementation Customer Due Dilligence and Enhanced Due Dilligence Bank Mandiri Syariah has been prevent money laundering enter the financial system at Mandiri Sharia Bank.

Concealment of Illegally Obtained Assets in Nigeria: Revisiting the Role of the Churches in Money Laundering

2020 ◽  
Vol 28 (1) ◽  
pp. 106-121
Author(s):  
Kato Gogo Kingston
Keyword(s):  
Economic Growth ◽  
Money Laundering ◽  
Financial Crime ◽  
The Past ◽  
Key Drivers ◽  
Nigerian Government

Financial crime in Nigeria – including money laundering – is ravaging Nigeria's economic growth. In the past few years, the Nigerian government has made efforts to tackle money laundering by enacting laws and setting up several agencies to enforce the laws. However, there are substantial loopholes in the regulatory and enforcement regimes. This article seeks to unravel the involvement of the churches as key drivers in money laundering crimes in Nigeria. It concludes that the permissive secrecy which enables churches to conceal the names of their financiers and donors breeds criminality on an unimaginable scale.

Criminal Forfeiture under Kenya's Proceeds of Crime and Anti-Money Laundering Act: Nature and Challenges

2020 ◽  
Vol 28 (4) ◽  
pp. 657-676
Author(s):  
Constance Gikonyo
Keyword(s):  
Money Laundering ◽  
Present State ◽  
Complex Nature ◽  
Fair Process ◽  
Proceeds Of Crime ◽  
State Of Affairs ◽  
Substantive Law

Criminal forfeiture is an asset confiscation mechanism used to seize benefits gained from an offence that one is convicted of. In Kenya, the Proceeds of Crime and Anti-Money Laundering Act provides the facilitating legislation. The present state of the regime's underutilisation prompts an examination of the substantive law and procedure provided in this statute. The analysis indicates that the provisions are technical in nature and the process is systematic. This ensures that a procedurally and substantively fair process is undertaken, in keeping with constitutional provisions. Nonetheless, identified challenges, including the complex nature of the provisions, translate to unclear interpretation and consequently ineffective implementation. This state of affairs is reversible through increased understanding of the criminal forfeiture provisions and their operation. This can potentially lead to an upsurge in its use and facilitate depriving offenders of criminal gains, removing the incentive for crime and reducing proceeds available to fund criminal activities.

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