scholarly journals Money Laundering as a Manifestation of White Collar Crime. Criminal Liability of Employees of Financial Institutions – Polish and British Perspective

2016 ◽  
Vol 19 (29) ◽  
pp. 21
Author(s):  
Dorota Justyna Czerwiak
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
White Collar Crime ◽  
Criminal Liability ◽  
White Collar ◽  
British Perspective

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

scholarly journals Government Anticipation in Tackling Crime of Money Laundering (White Collar Crime) in Indonesia

2018 ◽  
Vol 3 (1) ◽  
pp. 145-163
Author(s):  
Sunarno Edy Wibowo
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
Financial Services ◽  
White Collar Crime ◽  
Banking System ◽  
The State ◽  
Clearing System ◽  
The Government ◽  
The Stability ◽  
Almost All

Indonesia is currently racing with time related to the increasingly rampant criminal corruption committed by state officials who have a very significant impact also on the increase of TPPU. One of the perpetrators' efforts to avoid him from the law by hiding or obscuring his crime through money laundering takes advantage of the mechanism of financial traffic. Money laundering practices are very often committed against money earned from crime. The practice is simply a way to disguise or conceal the proceeds of a criminal offense. Money laundering is then used as a shield for the proceeds of the crime. Therefore, the existence of provisions or regulations on TPPU is very beneficial to minimize the velocity of funds from the crime. The latent danger of corruption has touched almost all levels of society, not only in relation to state organizers, power and policy, but also to the presence of private parties. Various methods have been taken to eradicate it, both preventively and repressively as well as by making changes to the method of eradication. One of the objectives of repressive action is to restore the State's losses. Corruption has resulted in heavy losses to the state's finances and undermines the stability of the national economy. The state losses in the form of assets resulting from corruption in returning it are not easy, the complexity of the settlement of criminal cases is one of the most dominant causes, not to mention the settlement of cases of corruption, especially those that have obtained permanent legal force, in relation to the spoils and payments replacement money, suspects, defendants, or convicted persons who disappeared at the time the proceedings were underway. The handling of TPPU cases has significance for the return of state assets related to the eradication of corruption. Property becomes a very fundamental object in relation to corruption and TPPU. Money laundering is always associated with property derived from a crime. The outcome of corruption is certainly related to assets or property acquired in an unauthorized and dirty manner. The prosecution of the perpetrators of corruption is not only related to the problem of his actions but also the repression of the result of his act of seizure of assets or assets of the perpetrator. Presidential Instruction Number 5 of 2004 on the Acceleration of Corruption Eradication issued by the President on December 9, 2004 to prove the seriousness of the government in criminalizing the money laundering of corruption results as well as a legal instrument that ordered law enforcement officers to immediately restore the state loss (asset recovery).1 The handling of TPPU, is a tough task for PPATK, especially to detect the occurrence of TPPU and further criminal acts. So the prevention and eradication of money laundering requires a systematic and comprehensive mechanism, which includes the detection process and legal process.2 The practice of money laundering through bank mechanisms is possible because banks are the most vulnerable financial institutions, and are subjected to the practice of Money Laundering whereby banks have a clearing system, international correspondence and a secret banking system.3 The role of the financial and government industry (PPATK) in preventing and eradicating TPPU becomes a barometer. It is based on banking and other financial services providers as front lines, in anti money laundering regimes. It is expected that financial institutions together with employees are at the forefront, in an effort to combat illegal financial activities.4

scholarly journals White-Collar Crime: Ukrainian Experience of Searching for Optimal Model of Criminal Liability

2018 ◽  
Vol 2 (11) ◽  
pp. 100-116
Author(s):  
Nataliya O. Gutorova
Keyword(s):  
Shadow Economy ◽  
White Collar Crime ◽  
Criminal Liability ◽  
White Collar ◽  
Optimal Model ◽  
Sensitive Issue ◽  
Probable Model ◽  
The Law

The Professor of the Law Institute of Poltava Nataliya O. Gutorova analyses quite a sensitive issue for society – white-collar crime in Ukraine, defining the optimally probable model of criminal liability. The white-collar shadow economy level is rather high in Ukraine – 45.96 % of the GDP and correlates with the respective data of Nigeria. The author’s approach can be related to two aspects: first, prevent excessive criminalization activities; second, effectively punish white-collar criminals. Poltavas Tiesību institūta profesore Natālija Gutorova (Nataliya O. Gutorova) analizē sociāli visai sensitīvu problēmu – t. s. balto apkaklīšu noziedzību Ukrainā, izzinot iespējamo kriminālatbildības optimālo modeli. Ar baltajām apkaklītēm saistītais ēnu ekonomikas līmenis Ukrainā ir visai augsts – 45,96 % no IKP un ir tuvs atbilstošam Nigērijas rādītājam. Autores pieeja ir attiecināma uz diviem aspektiem: pirmkārt, novērst darbību pārlieku kriminalizāciju; otrkārt, efektīvi sodīt baltās apkaklītes par noziegumiem.

scholarly journals CYBER MONEY LAUNDERING (Salah satu bentuk White Collar Crime abad 21)

2018 ◽  
Vol 8 (2) ◽  
pp. 240
Author(s):  
Iskandar Wibawa
Keyword(s):  
Money Laundering ◽  
White Collar Crime ◽  
White Collar ◽  
Cyber Crime

<p><em>Pencucian uang (“meney laundering”)  adalah perbuatan menyembunyikan asal usul dana yang tidak sah karena diperoleh dari suatu tindak pidana menjadi seolah sah, merupakan suatu tindak pidana sejak di undangkan Undang Undang Nomor 15 tahun 2002 jo Undang Undang Nomor 25 tahun 2003, yang kemudian diperbaharui dengan Undang Undang Nomor  8 tahun 2010 tentang Pencegahan dan Pemberantasan Tindak Pidana Pencucian Uang.  Tahapan pencucian uang yang terdiri atas konversi (“placement”), pelapisan (“layering”), dan pengintegrasian (“integration”)  pada perkembangannya dilakukan dengan memanfaatkan dunia maya (“cyber”), sehingga merupakan “cyber crime”,  yang penanganannya menjadi semakin sulit dan kompleks, karena kejahatan ini bisa merupakan kejahatan lintas Negara, padahal aparat penegak hukum dalam melaksanakan kewenanagannya dibatasi yurisdiksi.Disamping itu juga dibutuhkan kompetensi dan keahlian khusus di bidang “cyber”.“Cyber money laundering” merupakan keniscayaan yang harus dihadapi  sebagai salah satu bentuk “white collar crime” pada era abad ke 21, sehinnga upaya untuk pencegahan dan pemberantasan tindak pidana pencucian uang dapat diaksakan secara optimal.</em></p>

scholarly journals Regulating the Wild West: Symbolic Security Bubbles and White Collar Crime in the Art Market

2021 ◽  
pp. 2631309X2110357
Author(s):  
Naomi Oosterman ◽  
Simon Mackenzie ◽  
Donna Yates
Keyword(s):  
Money Laundering ◽  
White Collar Crime ◽  
Self Regulation ◽  
Art Market ◽  
White Collar ◽  
Wild West ◽  
Managing Risk

The study of crime and criminality in the art market has received increasing attention within criminology, however little has been written on the criminogenic values built into the structure of the art market. Despite increasing legislation to counteract instances of money laundering and fraud, the legal governance of the art market brings such ambiguity that actors in the market have formed their own responses to managing risk. In this article, we discuss how these actors rely on security bubbles and self-regulation and how this can have the unfortunate effect of adding to a criminogenic art market where white-collar crime is sustained. The dependence on self-policing created a field where powerful elites run things, and traditional policing agents have little purchase.

scholarly journals Unintended Consequences of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)

2017 ◽  
Vol 4 (2) ◽  
pp. 16
Author(s):  
George Costas Georgiou
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
Conflicts Of Interest ◽  
White Collar Crime ◽  
War On Drugs ◽  
Unintended Consequences ◽  
Developed Economies ◽  
Money Flows ◽  
Financing Of Terrorism ◽  
Government Initiative

Money laundering is illegal world-wide and constitutes a significant economic inefficiency. One must wonder why current anti-money laundering and combating the financing (AML/CFT) efforts are primarily driven by the threat of terrorism and drug-trafficking when the overwhelming majority of illicit money flows is due to other causes, primarily fraud. The significant costs imposed on financial institutions, together with ever increasing levels of regulation mandated by AML/CFT efforts and the minuscule in comparison illicit money flows intercepted by these efforts has thereby resulted in both moral hazard and conflicts of interest for financial institutions. Furthermore, AML/CFT efforts take on a new meaning when one realizes that illicit money, flows not only through traditional banks but also shadow banks and other non-bank financial intermediaries. The costs of compliance are enormous in comparison to the benefits with the “war on terrorism” superseding the more relaxed “war on drugs”, although even the latter was onerous in comparison to the even more relaxed efforts against the more widespread “white-collar” crime of fraud. In this paper, we trace the evolution of the present AML/CFT regime while at the same time assessing the costs and benefits of this government initiative on the efficiency of the financial system both in modern advanced economies and as well as the less developed economies of the world.

scholarly journals Profiling white-collar crime: evidence from German-speaking countries

2008 ◽  
Vol 5 (4) ◽  
pp. 149-161 ◽  
Author(s):  
Roland Füss ◽  
Achim Hecker
Keyword(s):  
Money Laundering ◽  
Economic Activity ◽  
White Collar Crime ◽  
White Collar ◽  
Effective Strategies ◽  
Situational Contexts ◽  
German Speaking ◽  
Great Relevance

White-collar crime is a notable phenomenon attending economic activity. But although both prominent individual cases and more systematic statistics on claims indicate a considerable and pressing problem, rather little is known about particular types of offenses, patterns of response, situational contexts, or offender profiles. Nor is much known about which instruments effectively prevent and fight white-collar crime. Utilizing an extensive dataset of 329 organizations and over 400 case descriptions from Germany, Austria and Switzerland, this analysis offers a first detailed inquiry into the relevance and characteristics as well as prevention and redress of five basic kinds of white-collar crime: corruption, fraud, theft, anti-competition, and money laundering. In addition to an explication of overarching commonalities and specific differences, we strive to show that these five types can furthermore be reorganized into two differing classes that are each internally rather homogenous. This finding is of great relevance and importance to effective strategies for preventing and countering white-collar crime

Criminal Liability of Corporations in Nigeria: A Current Perspective

1994 ◽  
Vol 38 (1) ◽  
pp. 35-45
Author(s):  
Chijioke Okoli
Keyword(s):  
White Collar Crime ◽  
Criminal Liability ◽  
Limited Liability ◽  
White Collar ◽  
Business Community ◽  
Current Perspective ◽  
Recent Origin ◽  
The Law ◽  
Corporate Criminal Liability ◽  
Corporate Personality

The criminal liability of corporations in Nigeria is an often neglected or forgotten aspect of the law, even in many of those cases where its consideration is ordinarily required. The reason for this anomaly is essentially two-fold. Firstly, the concept of distinct corporate personality remains a fiction to most Nigerians. At least in practical terms, even lawyers and members of the business community do not readily conceive the concept as going so far as a limited liability company being criminally liable. And as a matter of fact, the emphatic judicial affirmation of the concept is of relatively recent origin. Even then, the leading Nigerian text on criminal law states that its “exact extent is a matter of some doubt” and “await[s] clear definition”. The second reason is that those crimes for which corporations are most likely to be liable, in the main, are necessarily white-collar in nature. It is a self-evident fact that the attitude of organs of the state to the prevention and prosecution of white-collar offences is generally lukewarm. The pervasive corruption of the Nigerian society, a veritable point of agreement amongst analysts of diverse persuasions and disciplines, is to a considerable extent both the offspring as well as a manifestation of this cavalier attitude to white-collar crime. The result has been the danger of the law on corporate criminal liability falling into desuetude.

scholarly journals Do we need a new “recipe for salvation” of criminal law? (Mournful reflections about A.S. Alexandrov’s and I.A. Alexandrova’s article)

2021 ◽  
pp. 100-105
Author(s):  
Alexei Kibalnik
Keyword(s):  
Social Justice ◽  
Criminal Law ◽  
White Collar Crime ◽  
Criminal Liability ◽  
White Collar ◽  
Overwhelming Majority ◽  
Legal Basis ◽  
Criminal Punishment ◽  
Criminal Process ◽  
Domestic Science

This article presents a response to the work of A.S. Alexandrov and I.A. Alexandrova entitled «Proceduralstrategy for the development of criminal law in the XXI century». These authors state the decline of the Russian doctrine of criminal law, characterized by its «archaism» and the impossibility of rejecting «dogmas». They offered a very original «recipe for salvation» of the domestic science of criminal law through its «procedural revolution». The author of the article gives a number of arguments against the reasoning of Professors Alexandrovs. In particular, it is emphasized that the overwhelming majority of modern specialists in the field of criminal law do not raise the question of his «seniority» over the criminal process. Further, if the question of the criminality of an act is decided by the court and/or by the prosecution side authorities then practically any act of behavior can be arbitrarily declared criminal (or vice versa). Finally, some of the «dogmas of criminal law» that Professors Alexandrovs were talking about are simply absent in the doctrine. In particular there is no principle of «inevitability of criminal liability» as a mandatory punish-ability of any crime, the postulates of «invariability of the criminal legal basis» of responsibility, of «social justice» of criminal punishment. The article indicates that professors Alexandrov’s (deliberately or unknowingly) distorted doctrinal positions on a number of problems of criminal law (for example, on the assessment of «white-collar» crime, on the «fragmentation» of norms on fraud). A general conclusion about the inadmissibility of the «procedural revolution» of Russian criminal law is made.

scholarly journals MANAJEMEN BANK SYARI’AH DALAM UPAYA PENCEGAHAN PENCUCIAN UANG DAN UANG HARAM (Studi Kasus di Perbankan Syari’ah Solo Raya)

2016 ◽  
Vol 2 (03) ◽  
Author(s):  
Sumadi Sumadi
Keyword(s):  
Money Laundering ◽  
Corporate Crime ◽  
Positive Impact ◽  
White Collar Crime ◽  
White Collar ◽  
Economic Crime ◽  
Business Crime ◽  
Technological Advances ◽  
Narcotics Trafficking ◽  
Illegal Activities

Technological advances and the globalization of financial information, do not always have a positive impact for the community but sometimes it becomes the development of crime, especially white-collar crime (white collar crime), business crime (business crime), or a corporate crime (Corporate crime). Money laundering or commonly known as money laundering, is a method to hide, move, and use the result of a criminal act, the activities of criminal organizations, economic crime, narcotics trafficking, and other activities that constitute criminal activities. Money laundering, essentially involves assets (income / wealth) disguised so that it can be used without being detected that such assets derived from illegal activities. Melaului money laundering income or assets derived from illegal activity is converted into a financial asset that seems to come from a legitimate source / legal. Key Words : Money laundering, Economic syariah, Islamic Bank.

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