Ukraine, International money laundering, and the investigation of organized crime

2001 ◽  
Vol 6 (3-4) ◽  
pp. 37-42
Author(s):  
Alexander N. Gorodysky
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
International Money

PMLA 2002’s Gremlins: Anatomizing the Labyrinth of Recent Amendments and Precedent

2021 ◽  
Author(s):  
Jaideep Singh Lalli ◽  
Nikita Garg
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
Judicial Opinions ◽  
The Relationship

Abstract Enacted to regulate the incubus of organized crime, India’s Prevention of Money Laundering Act has quickly degenerated into interpretative chaos, with conflicting judicial opinions straining its otherwise sound provisions. Instead of chastening statutory mercuriality, close to eleven amendments to the Act have only fuelled incertitude further. The most damaging feature of the PMLA’s disarray is that the interpretive conflict eclipses the most basic punitive machinery of the Act. Part 2 of the article clarifies the relationship between the offence of money laundering and its predicate offences in the realm of how the latter ought to influence property attachment and prosecution proceedings for the former. Part 3 dissects the complication of Indian Criminal Procedure’s applicability to investigations under the PMLA and proposes an inventive two-step enquiry to determine the extent of said applicability in view of the provisions of both statutes. Part 4 chronicles the peculiar acquiescence of some Indian courts in not insisting upon furnishing written grounds of arrest to a detenu and explains why that jurisprudential course deserves to be abandoned. Lastly, Part 5 addresses the topical disputation of the effect of recent amendments on the potential revival of sui generis bail conditions under the PMLA that had previously been declared unconstitutional. The article presents a syncretism of recommended interpretative paths that the judiciary must take to remedy the recognized flaws.

China’s dirty laundry – international organizations posing a risk to China’s AML systems

2018 ◽  
Vol 21 (2) ◽  
pp. 189-202 ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Risk Assessment ◽  
Money Laundering ◽  
International Organizations ◽  
Banking Sector ◽  
Due Diligence ◽  
International Banking ◽  
Content Type ◽  
International Money ◽  
Customer Due Diligence ◽  
Chinese Banking

PurposeThis paper aims to review some of the current challenges that international money laundering schemes are posing in the Chinese banking sector. Anti-money laundering (AML) systems in China are relatively new, and customer due diligence checks and other AML systems are underdeveloped in some areas.Design/methodology/approachThe paper considers a particular case example of a multi-company organization that has known links to China. This company has been the target of both European and US investigations for suspected embezzlement and money laundering, and yet is still in operation.FindingsThe paper considers the complexities of this organization and how a seemly innocent link to a used clothing charity can fund an international organization spanning several countries. The paper offers a list of basic indicators of risk that could be applied to a risk-based system used within the Chinese banking context by using this group as an example.Originality/valueThe paper uses empirical and academic studies from other authors working in this region and supports many of the findings of the need to develop stronger risk-based, as opposed to rules-based, systems for managing AML risk assessment. Previous work by the author and suggestions from other authors are both used to suggest a basic framework for AML risk assessment. The paper concludes by reiterating the fact that China, like all other countries, is now operating in an international banking context, in much the same way that international organized crime is also operating at a global level.

scholarly journals COMBATING MONEY LAUNDERING AS A PART OF TRANSNATIONAL ORGANIZED CRIME-CRIMINAL LAW METHODS AND PROBLEMS

2019 ◽  
Vol 31 (5) ◽  
pp. 1503-1507
Author(s):  
Tatijana Ashtalkoska-Baloska ◽  
Aleksandra Srbinovska-Doncevski
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
Criminal Activity ◽  
Financial Flows ◽  
Transnational Organized Crime ◽  
Long Time ◽  
Financial Power ◽  
Criminal Legislation ◽  
And Control ◽  
Global Financial System

Money laundering its serious problem which threatens global financial system for a long time, hence measures against money laundering are part of one global system of criminal justice and policy against transnational organized crime, starting with predicting actions as criminal offences, precision its basic elements, giving priority of property sanctions and measures as a part of penal policy against this type of crime, but also finding new mechanism, in a way of detection and procedure of these illicit actions. This notion covers various activities directed against legalization of money acquired with committing crime, and therefore the center of injustice is exactly in covering criminal origin of money and including in legal financial flows. Although, in terms of detection and combating of this phenomenon, apart from the basic criminal offense, the money laundering operation itself and the predicate act often constitute a problem with regard to processing, which, if is not proved can constitute an additional obstacle of the procedure against the basic offence, as well as seizure of funds that are illegally obtained through such criminal activities. In this regard, the aim of this paper is to emphasize the necessity of building a global anti-money laundering system containing legislative measures as a first step in the control of money laundering and institutional restructuring for the effective enforcement of the existing criminal legislation. Criminalization and control of money laundering is complemented by confiscation of property and property gain acquired by such criminal activity, as measure which should enable reduction of financial power of criminal offenders and possibility of further committing of crime.

El delito de lavado de dinero

2021 ◽  
pp. 54-66
Author(s):  
Argus Ariel Gómez Mendiola
Keyword(s):  
Money Laundering ◽  
Rule Of Law ◽  
Organized Crime ◽  
Global Perspective ◽  
Financial Systems ◽  
The Rule Of Law ◽  
The Real

The aim of this essay is to present a brief introduction to the crime of money laundering, starting from its conceptualization as well as the purpose sought by the mechanisms that are implemented to operate the resources of illicit origin. A mention is made of the origin of the term ""money laundering"" and why the term money is used specifically. Organized crime mainly integrates the great fluxes of illicit capital it generates into the financial systems of various countries, with the aim of laundering money in its different stages. This, however, impacts different activities of countries and societies in general. The phenomenon of money laundering must be focused from a wide and global perspective to appreciate the real magnitude of the problem, since it undermines the rule of law, therefore have been detected some activities that are particularly vulnerable to being carried out to money laundering, which are being controlled more severely to stop the flux of this type of capital.

Money laundering and predicate offenses: models of criminological and legal relationships

2018 ◽  
Vol 21 (1) ◽  
pp. 22-32 ◽  
Author(s):  
Georgy Rusanov ◽  
Yury Pudovochkin
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
Design Methodology ◽  
Statistical Data ◽  
General Structure ◽  
Criminal Record ◽  
Content Type ◽  
The Public ◽  
Crime Organization ◽  
Economic Crimes

Purpose Purpose of the study is to show the relationships of money laundering with predicate offenses. Design/methodology/approach Each of these groups of crimes was investigated against the following criteria: statistical data on convictions and the proportion of prisoners in the general structure of a criminal record, links to organized crime, methods of money laundering and proportion of laundered money received from a particular predicate offense in the total amount of money laundered. Findings Based on the study of Russian legislation and practice peculiarities of this relationship, the features of the following relationships were revealed: relationship between widespread and relatively easy-to-control crimes against the property and drug trafficking and high latent and more difficult-to-control corruption and economic crimes. Originality/value As a result, it was concluded that there is a potential connection between the public danger of money laundering, the degree of crime organization and efficiency of the process of money laundering depending on the type of a predicate offense.

Anti-money laundering – the need for intelligence

2017 ◽  
Vol 24 (3) ◽  
pp. 472-479 ◽  
Author(s):  
Richard John Lowe
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
Financial Services ◽  
National Level ◽  
Financial Sector ◽  
International Standards ◽  
Policy Makers ◽  
Content Type ◽  
The Military ◽  
The Impact

Purpose The purpose of this paper is to highlight the need for predictive intelligence to support anti-money laundering programs in the financial sector. Design/methodology/approach The methodology adopted herein consists of a literature review on the use of intelligence in anti-money laundering, the sources of intelligence and information used in the financial sector, supported by experience gained from investigating and prosecuting money laundering cases, and the assistance provided to financial services companies. Findings Banks and other regulated services are required to meet international standards to deny services to criminals and terrorists, identify suspicious activity and report to the authorities. Regulated businesses have large operations which check customers against sources that confirm their identity or against lists of proscribed or suspected offenders at an individual or national level. Their controls tend to look backwards when other organisations that rely on intelligence, such as the military, value predictive, forward-looking intelligence. The penalties that banks and others face for failure in their controls are increasingly severe, as looking backwards and not forwards reduces the extent to which the controls meet their purpose of reducing the impact of organized crime and terrorism. Originality/value This paper serves as a useful guide to alert and educate anti-money laundering professionals, law enforcement and policy makers of the importance of predictive intelligence in countering organized crime and terrorism. It also considers whether lessons in intelligence handling from other areas can inform a debate on how intelligence can be developed to counter money laundering.

Sign in / Sign up

Export Citation Format

Share Document