Organized crime, suspicious transaction reporting and anti-money laundering regulation

2020 ◽  
Vol 54 (12) ◽  
pp. 1761-1775
Author(s):  
Lucia dalla Pellegrina ◽  
Giorgio Di Maio ◽  
Donato Masciandaro ◽  
Margherita Saraceno
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
Suspicious Transaction

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.

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.

scholarly journals The Effects of Money Laundering (ML) on Growth Application to the Gulf Countries

2020 ◽  
pp. 1428-1441
Author(s):  
Fakhri Issaoui ◽  
Toumi Hassen ◽  
Touili Wassim
Keyword(s):  
Logistic Regression ◽  
Saudi Arabia ◽  
Money Laundering ◽  
Logit Model ◽  
Terrorist Financing ◽  
Positive Effects ◽  
The Third ◽  
Suspicious Transaction ◽  
Gulf Countries ◽  
Strategic Goal

The strategic goal of this paper is to study the effects of the prevention policies against money laundering on growth in the gulf countries (Saudi Arabia, Kuwait, Qatar, Bahrain, UAE and Oman) from 1980 to 2014. Thus, the logistic regression (logit model) had given three fundamental results. The first had shown that the main policies in matter of fight against money laundering (anti money laundering law AMLL, suspicious transaction reporting STR, the criminalizing of terrorist financing CTF) have had positive effects on the increasing of probabilities to realize more growth. The second is that the said policies have had positive effects on the increasing of the degree of openness of the whole sample. The third is that the variable (proximity) had a positive and significant effect on anti-money laundering policies.

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.

Data mining in anti-money laundering field

2017 ◽  
Vol 20 (3) ◽  
pp. 301-310 ◽  
Author(s):  
Noriaki Yasaka
Keyword(s):  
Data Mining ◽  
Knowledge Management ◽  
Money Laundering ◽  
Design Methodology ◽  
Point Of View ◽  
Important Task ◽  
Content Type ◽  
Suspicious Transaction ◽  
Mining Methods ◽  
The Creation

Purpose This report aims to focus on how suspicious transaction report is created with data mining methods and used from the point of view of knowledge management. Design/methodology/approach This paper considers data mining versus knowledge management in the anti-money laundering (AML) field. Findings In the AML field, the information and knowledge gained are not necessarily used for or shared with the related shareholders. Creating and co-evolving the network of “knowledge professionals” is the impending assignment in this industry. The first and most important task is knowledge management in the global AML field. Originality/value The report considers the creation with data mining methods and utilization from the point of view of knowledge management.

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.

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