The Limits of Policy Diffusion: Introducing International Norms of Anti-Money Laundering into China's Legal System

Governance ◽  
2011 ◽  
Vol 24 (4) ◽  
pp. 639-664 ◽  
Author(s):  
SEBASTIAN HEILMANN ◽  
NICOLE SCHULTE-KULKMANN
Keyword(s):  
Money Laundering ◽  
Legal System ◽  
Policy Diffusion ◽  
International Norms

Application of international norms on human rights as a complex general legal problem

2021 ◽  
pp. 154
Author(s):  
Lev A. Lazutin
Keyword(s):  
Human Rights ◽  
Legal System ◽  
International Norms ◽  
Legal Problem ◽  
National Legislation ◽  
Legal Norms

The article is devoted to the interaction of domestic and international legal norms on human rights and the application of the latter in national legislation. The author comes to the conclusion that there are a number of problems in the implementation of international legal norms on human rights in the Russian legal system.

CRIME OF MONEY LAUNDERING AND MODUS BUSINESS LAW IN PERSPECTIVE

2015 ◽  
Vol 1 (1) ◽  
pp. 33-46
Author(s):  
Aal Lukmanul Hakim
Keyword(s):  
Money Laundering ◽  
Legal System ◽  
International Research ◽  
White Collar Crime ◽  
Science And Technology ◽  
White Collar ◽  
Business Activity ◽  
Business Law ◽  
Business Area

ABSTRACT  Advance in science and technology today is an advancement of human civilizations that affect all aspects of life, include the growing and the diverting motifs and forms of crime increasingly. Along with the progress, the business area was not immune used as a means of committing a crime by the offender, one of them is money laundering that harness of advances in technology and the progress of the system that contained in the business area, such as the use of sophistication and to make ease of banking transactions, and other of business activity forms. Proportional to this, various efforts have been undertaken to prevent and to make the space narrower for the perpetrators of this money laundering, particularly by establishing a legal system in the business area that can eradicate the white -collar crime, both national and international research. Keywords: money laundering, modus, business law

Aspekty prawne przeciwdziałania i zwalczania prania pieniędzy w Polsce. Wyzwanie dla polskich instytucji finansowych

2019 ◽  
Vol 77 ◽  
pp. 7-22
Author(s):  
Małgorzata Brulińska
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
Legal System ◽  
Task Force ◽  
Research Problem ◽  
National System ◽  
Legal Challenges ◽  
New Challenges ◽  
Financing Of Terrorism

This publication consists of two parts: The first part concerns new challenges, which financial institutions will have to meet on the basis of the new act on counteracting money laundering and financing of terrorism (Dz.U. 2018, item 723), which came into force on 13 July 2018 and implement the provisions of Directive of the European Parliament and of the Council (EU) 2015/849 of 20 May 2015 to the Polish legal system. and introduces revised Financial Task Force (FATF) recommendations. The changes are aimed to increasing the effectiveness of the national system of counteracting money laundering and financing of terrorism and will have a significant impact on the functioning of the Polish financial institutions. The second part focuses on presenting long-term challenges in the area of AML (Anti-Money Laundering) / FTR (Financial Transaction Report) that will be faced by Polish financial institutions. The research problem is the question, which legal challenges will appear for the Polish institutions at the time of entry into force of the Act of 1 March 2018 on counteracting money laundering and financing of terrorism and what new challenges will face the legislator (and not only legislator) in the further future.

scholarly journals Freezing Financial Assets in The United States and in Mexico: Contrasts in Constitutionality and Legal Parallels

2019 ◽  
Vol 11 (2) ◽  
pp. 115
Author(s):  
Delia Sánchez Castillo
Keyword(s):  
United States ◽  
Civil Rights ◽  
Money Laundering ◽  
Legal System ◽  
United States Of America ◽  
Due Process ◽  
The United States ◽  
Financial Assets ◽  
The Us

The purpose of this article is to understand how asset freezing works in the United States of America and in Mexico, as well as the contrasts and similarities in both systems. The threats posed to civil rights that can arise from asset freezing led us to compare the judicial criteria held by the US Courts and the corresponding reasoning in the Mexican legal system. Alternative rulings from European courts are also considered. Finally, some recommendations are made to improve due process in the Mexican legal system after preventing money laundering and funding terrorism when freezing financial assets.

CRYPTOCURRENCIES IN THE POLISH LEGAL SYSTEM – BASIC PROBLEMS AND CHALLENGES

2021 ◽  
Vol 1 (XXI) ◽  
pp. 75-84
Author(s):  
Wojciech Mincewicz
Keyword(s):  
European Union ◽  
Property Rights ◽  
Money Laundering ◽  
Legal System ◽  
Regulatory Framework ◽  
European Union Law ◽  
Electronic Payments ◽  
State Institutions ◽  
Terrorist Financing

The article presents a sketch of the most important legal and normative problems and challenges that are directly related to the emergence and development of cryptocurrencies. The case study is Poland, where in the first phase of existence, Bitcoin and other altcoins were considered property rights. Since 2018, under the Act on counteracting money laundering and terrorist financing, thanks to the unification of European Union law, they are classified as virtual currencies. The challenges identified in the course of the analysis that must be addressed include: the problem of creating an effective regulatory framework for the functioning of cryptocurrencies and placing them in the legal system; the problem of regulating relations with state institutions as monopolists in the field of finance and the worldwide trend of abandoning cash in favor of electronic payments and the formation of a cashless society

scholarly journals Legalization of Central Bank Digital Currency under Blockchain Industry

CONVERTER ◽  
2021 ◽  
pp. 450-458
Author(s):  
Yuting Hsu, Chengyong Liu
Keyword(s):  
Central Bank ◽  
Money Laundering ◽  
Consumer Protection ◽  
Legal System ◽  
Financial Stability ◽  
Central Banks ◽  
User Privacy ◽  
General Outline ◽  
The Public ◽  
Digital Currency

In recent years, private digital currency based on blockchainindustry has caused many doubts, such as privacy infringement, money laundering tools, consumer protection and financial stability. However, as digital currency has gradually become the important issue, the central banks of various countries have already started to study the central bank digital currency (CBDC). In this paper, firstly, the concept of private digital currency and its derivative issues are explained. Secondly, based on the two chains scheme of the blockchain, a CBDC system is established to facilitate supervision, which stores and accesses transaction information and verification information separately to balance the user privacy security and the convenience of supervision. Meanwhile, the consortium blockchain is settled to the public chain to protect the reliability of the data. Moreover, although some countries have started to develop CBDC, laws and regulations which regulate various aspects of it are still deficient. Therefore, in this paper, in addition to proposing a general outline of the legal system regulating the CBDC, it also illustrates separately the monetary rights and obligations of the central bank, merchant banks and the public, which will be helpful for the future legal construction.

scholarly journals REGISTER OF ULTIMATE BENEFICIARIES AS A LEGAL MECHANISM FOR TRACKING THE REAL OWNER OF THE COMPANY. EXPERIENCE IN RUSSIA AND ABROAD

2020 ◽  
pp. 178-183
Author(s):  
Olga A. Zykova
Keyword(s):  
European Union ◽  
Money Laundering ◽  
Legal System ◽  
Tax Planning ◽  
Modern Trend ◽  
The European Union ◽  
The Real ◽  
Foreign Companies ◽  
Legal Mechanism ◽  
Union Directive

In 2015, the European Union adopted the Fourth European Union Directive 2015/849 of the 20th of May, 2015 «on the prevention of the use of the fi nancial system for the purpose of money laundering and terrorist fi nancing», which introduced the most important innovation – the introduction of a public register of benefi cial owners of European companies and other structures. This article examines the reaction of individual countries to the main proposals and comments of the Directive, which is refl ected in the amendments to the current legal system. Special attention is paid to offshore zones, which are trying to fi nd a compromise between the comments of the European Union, promoting business transparency, and the principle of anonymity, which is the main privilege of offshore territories and which attracts a considerable fl ow of entrepreneurs and their investments. In addition, the article deals with the problem of contradiction of the Russian legislation regulating the procedure for maintaining the register of benefi cial owners and providing information contained therein. The article formulates the main conclusion regarding the register of benefi ciaries as a new modern trend of international tax planning, which should be taken into account in the future when creating the structure of foreign companies, as well as when choosing the jurisdiction in which business activities are planned.

scholarly journals The Influence Of The Constitutional Court Decision Against Combating Money Laundering In The Context Of Criminal Law Reform

2016 ◽  
Vol 1 (2) ◽  
pp. 99
Author(s):  
Somawijaya ◽  
Ajie Ramdan
Keyword(s):  
Money Laundering ◽  
Criminal Law ◽  
Legal System ◽  
Criminal Procedure ◽  
Court Decision ◽  
Law Reform ◽  
Constitutional Court ◽  
The Law

According to Moeljatno, Criminal Law is a part of a country’s legal system that prohibits certain acts with the threat of sanction for those who break said laws, determines when and in what cases such punishments should be imposed upon those who commit said acts and determines precisely how punishments should be carried out in the event that a person is accused of such acts. This paper will analyse Constitutional Court Decision No. 77/PUU-XII/2014 and Decision No. 21/PUU-XII/2014 regarding Criminal Law reform. Looking to the theory of procedural criminal law, an indictment of cumulative charges of money laundering requires that the underlying predicate offences be proven. If, for example, the predicate offence is corruption, the corruption must be proven as multiple crimes have been committed by the same suspect, namely corruption leading to money laundering. the Decision of  the Pretrial Judge of  the Court    of South Jakarta, Sarpin Rizaldi, and Constitution Court Decision No. 21/PUU- XII/2014 on the review of Article 77 of Act No. 8 Year 1981 concerning the Law of Criminal Procedure broadened the range of pretrial objects and greatly affected the principles of  formal criminal law.

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