scholarly journals Assets Recovery of Money Laundering Criminal Acts: A Study of Restoring Assets for Money laundring Criminal Acts Related in the Account of Overseas Bank

2021 ◽  
Vol 04 (07) ◽  
Author(s):  
Sri Lestari Handayani ◽  
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Deterrent Effect ◽  
Cooperation Agreement ◽  
Asset Recovery ◽  
Bilateral Cooperation ◽  
Legal Concepts ◽  
Recovery Approach ◽  
The Relationship ◽  
Offshore Bank

This research was conducted to investigate the obstacles to asset recovery for the proceeds of money laundering deposited in offshore bank accounts, as mandated in Law Number 8 of 2010. The issues raised in this study are about the relationship between corruption and money laundering. As well as law enforcement in the monetary sector in Indonesia through the criminal approach and Asset Recovery in the Money Laundering case. Based on the research, it was found that the recovery of assets resulting from money laundering that was stored abroad experienced obstacles due to differences in legal concepts (money laundering and assets proceeds from money laundering). The research was conducted through juridical normative methods and data collection. It is concluded that the Asset Recovery approach is more of a deterrent effect for the perpetrators of corruption than punishment. To facilitate the withdrawal of money laundering funds abroad, a bilateral cooperation agreement between the Indonesian and recipient countries of money laundering assets is necessary.

scholarly journals ANALISIS PERAN PPATK SEBAGAI SALAH SATU LEMBAGA DALAM MENANGGULANGI MONEY LAUNDERING DI INDONESIA

Yuridika ◽  
2013 ◽  
Vol 28 (3) ◽  
Author(s):  
Toetik Rahayuningsih
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Criminal Law ◽  
Focal Point ◽  
Financial Information ◽  
Fundamental Change ◽  
Criminal Offence ◽  
Asset Recovery ◽  
Administrative Sanctions ◽  
Recovery Program

The promulgation of the Law No. 8 Year 2010 on the Prevention and Eradication of Money Laundering creates a fundamental advancement of law enforcement in the field of criminal law. The fundamental change includes; broader change of the authority of PPATK to investigate suspicious transactions, blocking delay transaction, recommend surveillance, enforce of administrative sanctions, and conducta joint cooperation on anti money laundering and asset returnsas results of a criminal offence. By the authority PPATKwill be able to maximize its role as focal point in the prevention and eradication of the crime of money laundering and be able to strengthen the cooperation in the event when the suspect rushed out of the country. In the asset recovery program, PPATK plays important role especially in terms of financial information intelligence for the purposes of assets tracing, both on the analysis, and the investigation, prosecution and proceedings in the court.Keywords: authority of PPATK, combating money laundering.

scholarly journals The art of deterrence: Singapore’s anti-money laundering regimes

2018 ◽  
Vol 25 (2) ◽  
pp. 467-498
Author(s):  
Veltrice Tan
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
Financial Institution ◽  
Deterrent Effect ◽  
Limited Data ◽  
Content Type ◽  
Effective Deterrent ◽  
State Of Affairs ◽  
The Relationship ◽  
Practical Implications

Purpose In light of the recent 1MDB Scandal in Singapore, this research paper aims to examine the deterrent effect of Singapore’s sanctions against money laundering within financial institutions. Design/methodology/approach Case laws and legislations are examined as are relevant reports by regulators. Findings Singapore’s anti-money laundering (AML) regimes may not act as an effective deterrent against money laundering activities within financial institutions. This is due to the overreliance on the theory of deterrence-based thinking, the lack of an “enforcement pyramid” and economic factors which influence regulators to be lenient towards financial institutions. Research limitations/implications There are limited data available in relation to regulators in Singapore and the prevalence of money laundering activities within Singapore’s financial institution. Any discussions within this article is based on the impressionistic observations of this author, which may not reflect the true state of affairs in Singapore. Practical implications Those who are interested in examining the relationship between money laundering and the deterrent effect of sanctions against financial institutions will have an interest in this topic. Originality/value The value of the paper is to demonstrate that Singapore’s AML regimes may not act as an effective deterrence against money laundering activities within financial institutions.

Money Laundering, Political Corruption and Asset Recovery in the Spanish Criminal Code

2021 ◽  
pp. 1-17
Author(s):  
Daniel González Uriel
Keyword(s):  
Money Laundering ◽  
Political Corruption ◽  
Criminal Code ◽  
Penal Code ◽  
Asset Recovery ◽  
The Relationship

Abstract This article analyzes the relationship between corruption offenses and money laundering with reference to the Spanish Penal Code. These two criminal categories lack a certain definition, as there is no such univocal concept of “political corruption” and “money laundering.” The reasons for the denaturation of these criminal figures will be addressed. Then, the paper will expose how these criminal figures relate to each other. We argue that a real concurrence between both figures is possible, although it may lead, in certain cases, to double incrimination and its consequent punitive excess. Therefore, we will propose some criteria for a restrictive interpretation of “money laundering” to avoid confusion with other legal figures such as “confiscation.” The paper will end with reference to the Spanish Criminal Code’s regulation on “confiscation” and a brief review of the main critics.

scholarly journals The сoncept and types of factual communities in the modern theory of law

2021 ◽  
Vol 25 (2) ◽  
pp. 395-413
Author(s):  
Elena Yur’evna Tsukanova
Keyword(s):  
Law Enforcement ◽  
Theory Of Knowledge ◽  
Modern Theory ◽  
Methodological Basis ◽  
Effective Implementation ◽  
Theory Of Law ◽  
Legal Concepts ◽  
Dialectical Analysis ◽  
Relationship Of ◽  
The Relationship

The article is devoted to the problems of formation and positioning of the category of factual communities in legal science. The relevance of this phenomenon in law is due to the need for a broader approach to the study of a set of factual circumstances that are the grounds for the emergence, change or termination of legal relations, which undoubtedly contributes to a more effective implementation of the goals of both lawmaking and law enforcement practice. The purpose of this article is to determine the prerequisites for the formation of the legal category under consideration, to identify the main types of factual communities, as well as to understand their functions. Achievement of this goal will make it possible with sufficient certainty to identify the main characteristics of the specified legal category, as well as to determine functional links with related legal concepts. The methodological basis of the article was made by modern achievements in the theory of knowledge. In the process of research, theoretical, general philosophical (dialectical, analysis, synthesis, deduction, systemic method), as well as traditional legal methods (formal-logical, normative-dogmatic and others) were used. In the course of the research, based on the analysis of the relationship of physical objects, phenomena and their groups among themselves, it was concluded that the term factual communities is a logical continuation of the development of the theory of legal facts, reflects the interconnected association of individual legal facts, as well as their actual composition. Such associations can have a different scope, as a result of which their functionality may also differ. The primary factual commonality is the actual composition. Factual systems are larger in volume and more complex in structure.

scholarly journals Realisticity of Individual Choice Model Does Matter: On Cartel Prosecution

2021 ◽  
Vol 13 (2) ◽  
pp. 7-25
Author(s):  
A. Ye. Shastitko ◽  
K. V. Dozmarov
Keyword(s):  
Choice Model ◽  
Criminal Code ◽  
Deterrent Effect ◽  
Criminal Prosecution ◽  
Individual Choice ◽  
Antitrust Enforcement ◽  
Sensitive Tool ◽  
The Russian Federation ◽  
Legal Concepts ◽  
The Relationship

Criminal prosecution of monopolistic activities in the form of market cartelization is the most sensitive tool for individuals, which can have both a serious deterrent effect and limit behavior that is beneficial to public welfare. This paper discusses the theoretical aspects of the issue of choosing a regime of antitrust enforcement in connection with the design of amendments and enforcement of the norms of Article 178 of the Criminal Code of the Russian Federation, taking into account possible differences between the initialization, conclusion of a cartel agreement and participation in it. The article shows that there are various options for the relationship between the concept of conclusion and participation in the agreement, including anti-competitive one. However, this requires the application of realistic assumptions regarding the behavior of individuals. Practical issues of designing criminal penalties for cartels are considered taking into account various legal concepts, including the form and types of guilt, as well as on the basis of a comparison with other articles of the Criminal Code that punish collective unlawful acts. In connection with the problem of reproduction of an inhospitable tradition, the Russian antitrust identified the risks of imputed imputation (risks of I type errors) and insufficient punishment of the cartel organizer (risks of II type errors) in case of underestimating the importance of economic concepts based on the principle of methodological individualism and the assumption of bounded rationality of individuals.

scholarly journals KEWENANGAN KOMISI PEMBERANTAS KORUPSI DALAM MELAKUKAN PENUNTUTAN MONEY LAUNDERING

2018 ◽  
Vol 17 (1) ◽  
pp. 117
Author(s):  
Roni Efendi
Keyword(s):  
Criminal Justice ◽  
Law Enforcement ◽  
Criminal Justice System ◽  
Money Laundering ◽  
Criminal Law ◽  
Justice System ◽  
Initial Investigation ◽  
Asset Recovery ◽  
The Law ◽  
The Right

The tackling of money laundering through the criminal Justice System has not been debatable as long as it is handled by sub-systems in the criminal justice system such as the police and prosecutors since they have been bestowed a clear mandate in law. That raised a question, what about Corruption Eradication Commission or KPK?  In Article 6 letter C Act no.30 of 2002 on the Corruption Eradication Commission (Law of KPK) explicitly and clearly revealed that the KPK has a duty to conduct the initial investigation, investigation and prosecution of corruption. That article also did not provide the further explanation. For that reason, the authority of KPK in conducting initial investigation, investigation and prosecution is only regarding the criminal act of corruption.In several corruption cases settling, KPK also often tried to apprehend the perpetrators through the law of prevention and Eradication of Money Laundering Crime. Many People criticized KPK but some gave the appreciation on KPK’s efforts in asset recovery. That was also addressed to KPK on its’ authority in investigating and prosecuting TPPU. In the case of No. 39/Pid.Sus/ TPK/2013/PN.Jkt.Pst with the accused Ahmad Fathanah, Joko Subagion and I made Hendra as 2 (two) members of the judges’ panel stated dissenting opinion. It declared that KPK has the authority to investigate TPU but it is only concerning with the wealth which is suspected from a criminal act of corruption. Actually, the authority to persecute TPPU is on the general attorney. Meanwhile, persecutors of KPK does not have the right to file the indicment and demand of the TPPU. Therefore, the indictment related to money laundering should be declared unacceptable. It brings the writer’s unrest on the criminal law enforcement’s practice. It is especially in the eradication of money laundering since it is supposed that law enforcement does no provide justice for justicia belene, certainty and expediency in asset recovery.

scholarly journals The Legal Status of Auditors and Audit Organizations in the AML / CFT system

2018 ◽  
Vol 3 (2) ◽  
pp. 512
Author(s):  
Morozov N.V. ◽  
Gubina A.M. ◽  
Kotelyanets O.S.
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Legal Status ◽  
The State ◽  
Law Enforcement Agencies ◽  
Terrorist Financing ◽  
The Russian Federation ◽  
The Government ◽  
Legislative Changes ◽  
The Relationship

Money laundering has become an increasing concern to law makers in recent years, principally because of its association with terrorism. Recent legislative changes mean that auditors may become state law enforcement agencies in the private sector. We examine this legislation in terms of the changing nature of the relationship between auditors and the state and the aggregate of supervision within which it is located. According to the Resolution of the Government of the Russian Federation of February 16, 2005 No. 82 [2], all lawyers, notaries and auditors are obliged to inform the state of any suspicious transactions of their clients. Keywords: money laundering, terrorist financing, auditors, audit organizations.

Stages and methods of legalization of criminal proceeds obtained as a result of economic and tax crimes

2020 ◽  
Vol 2020 (3) ◽  
pp. 148-156
Author(s):  
Pyotr Ivanov
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Economic Security ◽  
Theory And Practice ◽  
Scientific Publications ◽  
The Subject ◽  
Points Of View ◽  
Internal Affairs

In this article, based on the study and analysis of operational-search legislation, scientific publications, law enforcement practice and the criminal situation in the field of legalization, the operationalsearch counteraction to the legalization of income received from the Commission of tax crimes is considered. The paper focuses on the stages (stages) of laundering, the existing points of view on this account, as well as on the methods of illegal withdrawal of funds abroad. The author of the article aimed to develop scientifically based proposals and recommendations for improving the effectiveness of this type of activity by the territorial bodies of internal Affairs and their divisions of economic security and anti-corruption. It is proposed to put forward and work out operational search versions within the subject of study, as well as to develop, taking into account the methods (schemes) used by criminals to launder criminal proceeds and illegally withdraw funds abroad for the purpose of their subsequent legalization, operational search measures to document their criminal actions. In addition, the author recommends constant monitoring of money laundering methods based on operational and investigative practices. The results and key conclusions formulated in this article can be used in the theory and practice of operational investigative activities of internal Affairs bodies to counteract the legalization of income received from tax crimes.

Money laundering through raw diamonds

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fabian Maximilian Johannes Teichmann ◽  
Marie-Christin Falker
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Qualitative Content Analysis ◽  
Law Enforcement Agencies ◽  
Content Type ◽  
Compliance Officers ◽  
German Speaking ◽  
Three Stages ◽  
Practical Implications ◽  
Combat Money Laundering

Purpose This paper aims to illustrate how illegally obtained funds are laundered through raw diamonds in Austria, Germany, Liechtenstein and Switzerland. Design/methodology/approach To identify specific money laundering techniques involving raw diamonds, this study used a qualitative content analysis of data collected from 60 semi-standardized interviews with both criminals and prevention experts and a quantitative survey of 200 compliance officers. Findings Raw diamonds are extraordinarily suitable for money laundering in European German-speaking countries. In particular, they may be used in all three stages of the laundering process, namely, placement, layering and integration. Research limitations/implications Because the qualitative findings are based on semi-standardized interviews, their insights are limited to the perspectives of the 60 interviewees. Practical implications Identifying gaps in existing anti-money laundering mechanisms should provide compliance officers, law enforcement agencies and legislators with valuable insights into how criminals operate. Originality/value While prior studies focus on the methods used by organizations to combat money laundering and how to improve anti-money laundering measures, this paper investigates how money launderers operate to avoid detection, thereby illustrating authentic experiences. Its findings provide valuable insights into the minds of money launderers and combines criminal perspective with that of prevention experts.

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