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This paper aims to examine how banks in Tanzania have been vulnerable to money laundering activities and how the banking institutions have been implicated in enabling or aiding the commission of money laundering offences, and highlights the banks’ failure or inability to prevent, detect and thwart money laundering committed through their financial systems.

The paper explores Tanzania’s anti-money laundering law and analyzes non-law factors that make the banks exposed to money laundering activities. It looks at law-related, political and economic circumstances that impinge on the banks’ efficacy to tackle money laundering offences committed through their systems. The data are sourced from policy documents, statutes, case law and literature from Tanzania and other jurisdictions.

Both law-related and non-law factors create an enabling environment for the commission of money laundering offences, and this exposes banks in Tanzania to money laundering activities. Some banks have been implicated in enabling or aiding money laundering offences. These banks have abdicated their obligations to fight against money laundering. This is attributed to the fact that the banks’ internal anti-money laundering policies, regulations and procedures are inefficient, and Tanzania’s legal framework is generally ineffective to tackle money laundering offences.

This paper uncovers a multi-faceted nature of money laundering affecting banks in Tanzania. It is recommended that Tanzania’s anti-money laundering policy should address law-related, political, economic and other factors that create an enabling environment for the commission of money laundering offences. Tanzania’s anti-money laundering law should be reformed to enhance its efficacy and, lastly, banks should reinforce their internal anti-money laundering policies and regulations and policies.

Money laundering is a complex issue which has been ongoing for many years globally. Developed and developing countries form anti-money laundering regime in the view to combat these ever-challenging criminal activities. Laundering of money involves the hiding and cleaning of “dirty money” derived from unlawful activities. Malaysia has come up with its own regime of anti-money laundering. Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) provides power to forfeit proceeds at the end of proceedings. This paper aims to investigate whether the current civil forfeiture regime in Malaysia is effective in fighting against money laundering.

This paper will be based on a doctrinal research where reliance will mainly be on relevant case laws and legislations. AMLATFA is the primary legislation which will be utilised for the purpose of analysis.

Despite the enactment of AMLATFA, little study has been carried out on the effectiveness of civil forfeiture regime under Malaysian anti-money laundering laws. Furthering into forfeiture of criminal proceeds, the findings show that forfeiture provisions are the recent law enforcement strategy to fight against crimes. It is implicit that this strategy is more efficient than the conventional approach, which only focused on punishing the individual criminal but failed to diminish the criminal operations as a whole.

Strengths and weaknesses of AMLATFA are identified where it is less comprehensive in terms of offences covered and standard of proof. With that, this paper analyses the civil forfeiture regime under the Malaysian anti-money laundering laws. This paper would also offer some guiding principles for academics, banks, their legal advisers, practitioners and policymakers, not only in Malaysia but also elsewhere. Anti-money laundering laws can further be improved by being a better and established civil forfeiture regime where Malaysia will be able to discharge its duties well on forfeiting benefits from criminals.

This article aims to constructively critique the new global methodology for evaluating the effectiveness of anti-money laundering regimes against defined outcomes.

With surprisingly little discussion at the intersection of the money laundering and policy effectiveness and outcomes scholarship and practice, this article combines elements of these disciplines and recent peer-review evaluations, to qualitatively assess the Financial Action Task Force’s (FATF’s) anti-money laundering “effectiveness” methodology.

FATF’s “effectiveness” methodology does not yet reflect an outcome-oriented framework as it purports. Misapplication of outcome labels to outputs and activities miss an opportunity to evaluate outcomes, as the impact and effect of anti-money laundering policies.

If the “outcomes” of the “effectiveness” framework do not match the crime and terrorism prevention policy goals of nation states, the new “main” component for assessing the effectiveness of anti-money laundering regimes potentially detracts focus and resources from, rather than towards, intended policy objectives.

There is a dearth of scholarship whether the global anti-money laundering “effectiveness” framework is sufficiently robust to assess effectiveness as it purports. This article begins addressing that gap.

This paper aims to explore the evolution of the law for combating economic crimes including money laundering in Tanzania and explore the current developments in the anti-money laundering (AML) law and the ongoing fight against these crimes in Tanzania.

A desk-based review of documents on money laundering and its control in Tanzania was conducted. The paper presents qualitative data from the documentary sources. It applies the doctrinal legal research approach to examine, analyze and describe the AML law applicable in Tanzania. The paper uses the “law-in-context” research approach to explore some non-law aspects of money laundering in Tanzania and interrogate how the law addresses non-law dimensions of money laundering. Policy documents and media reports were analyzed. The thematic data analysis technique was applied, which involved identifying, describing and reporting issues according to the themes emerging from the data.

The AML law in Tanzania emerged from the law that was originally enacted to curb economic crimes. The law has evolved for some decades. Its evolution has been driven by domestic factors and foreign drivers which are political, economic and social in nature. The role of the AML law has been changing. Initially, the law was a tool for curbing economic crimes. Recently, the law has acquired a new role, namely, to facilitate the recovery of illicit funds and non-financial assets from offenders and enable the authorities in Tanzania to use those economic resources for developmental purposes.

The paper underscores the need for the Government of Tanzania to re-consider the broader implications involved in its current efforts to tackle economic crimes and money laundering. The balance between the implementation of the measures to combat money laundering and economic crimes in Tanzania and the importance of protecting rights of persons indicted with those offences should be struck. The AML law should be applied in such a way not to infringe the rights of the accused persons and not to throttle economic activities including the flow of legitimate foreign investments into Tanzania.

This paper generates insightful information to policymakers, law enforcers, regulators and other stakeholders who undertake activities to tackle money laundering and its control in Tanzania and researchers who study these issues for purposes of providing understanding of the problem and facilitating policy and legal reforms. The paper raises issues that can be explored further in future and contribute to the discourse on money laundering and its control in Tanzania.

This study aims to analyse the effects of the Presidential Powers (Temporal Measures), amendment to the Money Laundering and Proceeds of Crime Act to include legal practitioners under the list of designated non-financial business and professions.

The study is a textual analysis of anti-money laundering legislation [anti-money laundering (AML) legislation] within the context of legal practice in Zimbabwe.

The amendment put Zimbabwe on the international standard in the fight against money laundering, as legal practitioners have become a soft target for money laundering. Despite its noble aim, in Zimbabwe there is anecdotal evidence that the AML legislation turns lawyers into watchdogs or law enforcement agents. On the contrary, the amendment prevents lawyers from falling to the mercy of organised criminals and money launderers. Furthermore, there is a dearth of empirical research that can demystify the impact of some of the provisions of this law on contested issues, such as legal professional privilege.

This study aims to outline the rationale for anti-money laundering policy and law. This study will analyse how the issue has been approached in other jurisdictions such as England and Wales. The paper will then try to establish coherent principles in the prevention of money laundering. This study will also suggest a number of recommendations as to how Zimbabwe could approach some of the issues while still considering the need to balance competing influences of legal privilege and money laundering regulations.

The paper will bring this issue to the fore and initiate an informed debate, as well as provide practical talking points for legal practitioners to embrace the AML regime and to engage policymakers on the issues that need reform.

This paper provides the first in depth analysis of the money laundering legislation in the legal fraternity in Zimbabwe and goes to offer practical tips and entry points on the application of the regulations or for advocacy towards any reform as might be needed.

Money laundering has become a global concern in recent years, and many countries attempt to employ some preventive measures to cope with this phenomenon. Anti-money laundering (AML) controls vary in different countries, and consequently many studies, to date, have taken account of these differences along with the AML efforts. In this regard, financial institutions play an important role to tackle money laundering by involving in all three stages of money laundering (placement, layering and integration). The purpose of this paper is to investigate the AML situation of the Iranian banks and also study some related variables.

Using the Wolfsberg questionnaire, a survey consisting of 24 Iranian authorized banks in 2017 was conducted.

We conclude that Iranian banks have proper AML controls in place. Furthermore, it is concluded that banks with more staffs and more experienced employees are more likely to establish strong AML controls; conversely, banks with more branches are less likely to set up strong AML controls.

The present study is the first study conducted in Iran, and the outcomes of the study may be helpful to the Iranian and also International Banking System to establish stronger AML controls.

Policy mobility scholarship concerning anti-money laundering (AML) has typically favoured the study of power structures and interests to the neglect of the constructivist perspective and the local cultural–symbolic driving forces of policy adoption. This study aims to redress this, by analysing the shifting ideational drivers of AML policy in Singapore over the past 31 years through a thematic analysis of Singapore’s parliamentary debates (Hansard).

Through a thematic analysis of Singapore's Hansard over the past 31 years, this study seeks to present a social constructivist perspective of AML policy adoption in Singapore.

The thematic analysis reveals how the internal driving forces of AML policy in Singapore have shifted, from the idea of “crime prevention” in the early 1990s, to the symbolic value of “international norm compliance” by the 2010s.

This constructivist perspective of AML policy adoption is particularly useful in complementing the existing materialist theories of AML policy diffusion and allows us to better appreciate the historical nuances of AML policy transfer across the globe.

This research will provide a useful comparative case study for other policy mobility scholars interested in presenting a constructivist account of AML policy adoption in different jurisdictions.

There is no literature in the field of policy mobility, explaining the diffusion/transfer of AML policy from a social constructivist perspective.

This paper aims to examine the authorities tasked to fight against money laundering in Tanzania and appraise the efficacy of the country’s anti-money institutional framework to tackle the problem.

The paper draws on a qualitative research and data generated from the analysis of documentary materials. It surveys the anti-money laundering (AML) law in Tanzania to describe the legal and institutional frameworks for tackling money laundering. It explores law-related and non-law aspects to interrogate and appraise the efficacy of Tanzania’s AML law and authorities. The qualitative data were generated using the thematic content analysis technique.

The law in Tanzania establishes authorities and vests them with powers to combat money laundering. The authorities, which are part of Tanzania’s AML institutional framework, have been instrumental in combating money laundering. Nevertheless, several law-related and non-law factors emasculate the efficacy of the AML law and authorities in Tanzania. Some political and economic factors wear off the effectiveness of the country’s AML institutional framework. The transnational nature and complexity of money laundering overwhelm the capacity of the AML authorities in Tanzania.

The paper provides useful insights on money laundering and the legal regime to counteract the scourge in Tanzania which sets up the country’s AML institutional framework. It raises some issues for researchers, policymakers and law enforcers who can re-examine the problem and revisit the law and re-evaluate authorities and propose measures that will enable the government to reinforce the country’s AML regime. The paper makes a case for the government to implement the reforms of the country’s AML policy, legal and institutional frameworks.

The paper investigates issues relating to money laundering and its control in Tanzania beyond the legal perspective to uncover limitations and challenges that emasculate the efficacy of the AML authorities in the Tanzanian context. The issues examined in this paper are not unique to Tanzania and, hence, have relevance to other jurisdictions in sub-Saharan Africa.

This paper aims to examine the money laundering vulnerability of private legal practitioners in Tanzania, the involvement of these practitioners in money laundering activities and their role in preventing, detecting and thwarting money laundering and its predicate crimes.

The paper applies the “black-letter” law research approach to describe, examine and analyze the anti-money laundering law in Tanzania. It also uses the “law-in-context” research approach to interrogate the anti-money laundering law and to provide an understanding of factors impacting on the efficacy and readiness of private legal practitioners in Tanzania to tackle money laundering. The review of literature and analysis of statutory instruments and case law, reports of the anti-money laundering authorities and agencies and media reports-generated data are used in this paper. This information was complemented by data from interviews of purposively selected private legal practitioners.

Private legal practitioners in Tanzania are vulnerable to money laundering. There is an emerging evidence that indicates the involvement of some private legal practitioners in the commission of money laundering and/or its predicate crimes. The law designates the legal practitioners as reporting persons and imposes on the obligation to fight against money laundering. Law-related factors and practical challenges undermine the capacity of the legal practitioners to curb money laundering. Additionally, certain hostile perceptions contribute to the legal practitioners’ unwillingness, indifference or opposition against the fight against money laundering.

The paper underscores the need for Tanzania to reform its policy and legal frameworks to create enabling environment for anti-money laundering gatekeepers, including private legal practitioners to partake efficiently in the fight against money laundering. It also underlines the importance of incorporating the principles that govern the private legal practise to enable the practitioners to partake effectively in tackling money laundering.

This paper generates useful information to private legal practitioners, policy makers and academicians on issues relating to money laundering and its control in Tanzania and presents recommendations on possible policy and legal reforms that can be adopted and applied to augment the role of the legal practitioners in Tanzania to combat money laundering.

The purpose of this study is to explore how the banking industry seeks to prevent money laundering and how the phenomenon is reflected in practice in the daily work of bank employees in Finland.

This study is a qualitative case study by its nature. The concept of accountability has been used as a theoretical approach in the study.

This study shows that knowing the customer is one of the most important factors in preventing money laundering. The risk-based approach, customer risk classification and bank’s internal instructions have partially clarified daily routines in anti-money laundering (AML). Technological developments and various payment services have generated new ways of money laundering, but technology has also made it easier to monitor cash flows through various monitoring systems. The challenge is constantly changing regulations concerning how to act in different situations for different customers.

This study investigated the accountability of banks in AML in Finland and highlighted how bank employees implement accountability for AML in an ever-changing socio-technical context.