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Open Access
Article
Publication date: 24 August 2021

Muhammad Saleem Korejo, Ramalinggam Rajamanickam and Muhamad Helmi Md. Said

This paper aims to focus on the concept of money laundering and explores the evolution and expansion of criminalization of predicate offences to the money laundering…

3139

Abstract

Purpose

This paper aims to focus on the concept of money laundering and explores the evolution and expansion of criminalization of predicate offences to the money laundering within the international anti-money laundering (AML) regime over the time. It proposes how to limit the size and scope of predicate offences in designing a balanced legal definition.

Design/methodology/approach

This paper opted a content analysis focussed on the criminalization aspect of offences to money laundering in the international AML regime under the United Nations Conventions (Vienna, Palermo and Corruption Convention) and Financial Action Task Force Standards.

Findings

This paper provides how the criminalization of money laundering has evolved and its definition expanded over the time. The international definition is widely drafted with wide range of predicate offences from proceeds of drug money to corruption, including terrorist financing and terrorist acts; however, the two phenomena – money laundering and terrorist financing are quiet distinct apart. This continual expansion of predicate offences quite leads legality issues such as over-criminalization and conflict with principles of criminal law. This paper suggests an approach to limit the size and scope of predicate offences to money laundering.

Practical implications

This paper includes implications for the development of a balanced approach in defining predicate offences through a qualitative limitation approach consistent with the minimalist theory of penalization of criminal law.

Originality/value

This paper attains an identified issue how the legal definition of the money laundering offence can be improved while considering rule of law and principles of criminal law concerns.

Details

Journal of Money Laundering Control, vol. 24 no. 4
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 1 February 2001

Peter Alldridge

The G7 finance ministers, at a meeting in London on 8th May, 1998, called for international action to enhance the capacity of anti‐money‐laundering systems to deal…

Abstract

The G7 finance ministers, at a meeting in London on 8th May, 1998, called for international action to enhance the capacity of anti‐money‐laundering systems to deal effectively with tax‐related crimes, with a view to achieving the following objectives: the extension of suspicious transaction reporting to money laundering related to tax offences; the permission to money‐laundering authorities to the greatest extent possible to pass information to their tax authorities to support the investigation of tax‐related crimes; and the communication of such information to other jurisdictions in ways which would allow its use by tax authorities.

Details

Journal of Money Laundering Control, vol. 4 no. 4
Type: Research Article
ISSN: 1368-5201

Article
Publication date: 20 July 2010

Marco Arnone and Leonardo Borlini

The purpose of this paper is to present an empirical assessment and outline issues in criminal regulation relating to international anti‐money laundering (AML) programs.

3580

Abstract

Purpose

The purpose of this paper is to present an empirical assessment and outline issues in criminal regulation relating to international anti‐money laundering (AML) programs.

Design/methodology/approach

In the first part, this paper outlines the serious threats posed by transnational laundering operations in the context of economic globalization, and calls for highly co‐ordinated international responses to such a crime. The second part of the paper centres on elements of international criminal regulation of ML.

Findings

The focus is on the phenomenological aspect of ML and highlights that to a large extent it is an economic issue. Economic analysis calls for an accurate legal response, with typical trade‐offs: it should deter criminals from laundering by increasing the costs for such illicit operations, calling for enhanced regulatory and enforcement activities; however, stronger enforcement yields increased costs and reduces privacy. These features have lately inspired the recent paradigm shift from a rule‐based regulatory framework to a risk‐based approach which still represents an extremely delicate regulatory. Both at the international level and within the single domestic legal system, AML law is typically characterised by a multidisciplinary approach combining the repressive profile with preventive mechanisms: an empirical evaluation of the International Monetary Fund‐World Bank AML program is presented, where these two aspects are assessed. The non‐criminal measures recently implemented under the auspices of the main inter‐governmental public organisations with competence in these fields seem to be consistent with the insights of economic analysis. However, some key criminal issues need to be better addressed.

Originality/value

The paper offers insights into international AML programs, focusing on criminal regulation.

Details

Journal of Money Laundering Control, vol. 13 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 1 April 2021

Lewis Chezan Bande

The purpose of this paper is to critically appraise the legal definition of the offence of money laundering under Malawian law. The goal is to evaluate whether the…

Abstract

Purpose

The purpose of this paper is to critically appraise the legal definition of the offence of money laundering under Malawian law. The goal is to evaluate whether the definition meets international standards and best practices on legal definition of money laundering, particularly as contained in the United Nations Convention against Transnational Organized Crime (UNCATOC).

Design/methodology/approach

The paper is a doctrinal analysis of the legal definition of the offence of money laundering under Malawian law. It examines the constituent elements of the offence based on the traditional conception of a criminal offence as constituting the prohibited conduct (or actus reus) and the mental element (or mens rea). The paper comparatively evaluates the offence vis-à-vis international standards and best practices, particularly as contained in the UNCATOC.

Findings

The paper concludes that the definition is compliant with international standards and best practices.

Research limitations/implications

The paper is based on the statutory definition of the offence, but was unable to examine how the offence is interpreted and applied in concrete cases by Malawian courts. The reason is the lack of any case law through which courts have interpreted and applied the offence.

Practical implications

The paper provides the template for future interpretation and application of the offence by courts in the future.

Social implications

Enhancing the clarity and certainty in the law on money laundering in Malawi.

Originality/value

The paper is an elucidation of a statutory provision that was recently adopted in Malawi and for which there is no authoritative clarification. The paper, therefore, makes an invaluable contribution to the fight against money laundering in Malawi by being a guide to law enforcers, lawyers, courts and policy/legislative makers.

Details

Journal of Money Laundering Control, vol. 24 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 16 November 2020

Eugene E. Mniwasa

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Originality/value

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.

Details

Journal of Money Laundering Control, vol. 24 no. 4
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 3 February 2020

Chat Le Nguyen

The purpose of this paper is to examine the international standards for establishing national jurisdiction over the transnational crimes of money laundering and bribery…

Abstract

Purpose

The purpose of this paper is to examine the international standards for establishing national jurisdiction over the transnational crimes of money laundering and bribery and identify challenges to the adoption of those standards by different states in practice.

Design/methodology/approach

This paper, first, defines transnational money laundering and transnational bribery; then, it examines the legal bases and principles on which a state can claim criminal jurisdiction over these offences. This paper also discusses the application of jurisdictional conditions in a transnational context and how to deal with the problems arising from national claim of jurisdiction over these offences, for example, jurisdictional concurrence.

Findings

This paper argues that when the jurisdictional concurrence occurs, the involved states should consult one another by taking into account a number of relevant factors and take the “centre of gravity” approach to deciding which state or forum should prosecute eventually. States less able to establish jurisdiction over the offences are often those which have a weak legal basis and/or insufficient resources.

Originality/value

To the authors’ knowledge, this article would be the good guidance on how a state could claim jurisdiction over the offences of transnational money laundering and transnational bribery.

Details

Journal of Financial Crime, vol. 27 no. 4
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 3 October 2016

Kenneth Murray

This paper aims to highlight the persistent influence of the concept of “predicate offence” in respect of how the crime of money laundering is conceived and discussed, and…

Abstract

Purpose

This paper aims to highlight the persistent influence of the concept of “predicate offence” in respect of how the crime of money laundering is conceived and discussed, and to discuss how this inhibits the ability to prosecute the crime even where, as is the case in the UK, “predicate offence” is not a requirement of the relevant legislation.

Design/methodology/approach

Discussion of a recent UK Supreme Court judgment, R v GH, in particular, how the import of it appears to contrast with perceptions offered by the experience of two recent money laundering convictions on Scotland, where no evidence was led on establishing the money was criminal before the criminal act was libelled as money laundering. Design of modern money laundering schemes are illustrated and assessed in terms of how they can be prosecuted in the context of prevailing interpretations of the law.

Findings

The effectiveness of the UK money laundering offences as set out in the Proceeds of Crime Act of 2002 requires revaluation. Clarification is required in respect of how criminality in such cases can be proved. Consideration should be given to introducing new legislation targeted at the transmission of money or value under the cover of false documentation.

Research limitations/implications

Clarification is required on how the concept of “irresistible inference” as established by R v Anwoir can be applied to money laundering cases in light of the R v GH judgement of the UK Supreme Court.

Practical implications

Upgrade of law enforcement knowledge base and investigation skills is required to prosecute existing money laundering offences more effectively, but the lack of clarity as to what will suffice as proof of criminality serves to inhibit the investigation of these crimes as well as their prosecution.

Social implications

Protection of democracies, democratic institutions and the communities they serve from the corrupting influence of laundered criminal money through more effective prosecution of money laundering offences.

Originality/value

To encourage discussion on whether the relevant legislation remains fit for purpose and what practical measures can be taken to improve it.

Details

Journal of Money Laundering Control, vol. 19 no. 4
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 13 October 2022

Ping He

The purpose of this paper is to introduce the background and significance of criminalization of self-money laundering in China and to analyze its application in judicial practice.

Abstract

Purpose

The purpose of this paper is to introduce the background and significance of criminalization of self-money laundering in China and to analyze its application in judicial practice.

Design/methodology/approach

This paper introduces the international and domestic background of the criminalization of self-money laundering, demonstrates the theoretical basis and practical significance of the changes of Article 191 in the 11th amendment to the criminal law and puts forward solutions to some controversial issues in judicial practice.

Findings

The 11th amendment to the Criminal Law, which came into force in March 2021, criminalizes self-money laundering under Article 191 and has brought an impact on the traditional theory of criminal law. There are no similar amendments to the other two crimes, namely, Article 312 and Article 349, which lead to some confusion in the judicial practice, especially in the understanding of the number of crimes, and the meaning of proceeds of crime. This paper puts forward solutions to some controversial issues in judicial practice.

Originality/value

This paper introduces the criminalization of self-money laundering in the 11th amendment to the criminal law in China, presents a comprehensive description of and comments on the difference between the Article 191 and its similar articles, namely, Article 312 and Article 349, to make a well understanding in the application of law in judicial practice, which would be beneficial to theoretical researchers and judicial professionals.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 6 June 2020

Eugene E. Mniwasa

This paper aims to examine the money laundering vulnerability of private legal practitioners in Tanzania, the involvement of these practitioners in money laundering…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Originality/value

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.

Details

Journal of Money Laundering Control, vol. 24 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 7 October 2019

Sherene Alicia Murray-Bailey

This paper aims to examine the socio-economic effect of money laundering in Trinidad and Tobago. It assesses the efficacy of the administration of justice in addressing…

Abstract

Purpose

This paper aims to examine the socio-economic effect of money laundering in Trinidad and Tobago. It assesses the efficacy of the administration of justice in addressing money laundering and the confiscation of the proceeds of crime. It identifies deficiencies within the existing anti-money laundering system and provides recommendations to ensure a robust anti-money laundering framework in keeping with international standards.

Design/methodology/approach

The paper embraces a pluralist approach. It uses qualitative and quantitative methods and uses a case study approach with contextual qualitative analysis. Empirical data are used and causal connections are linked to the analysis.

Findings

The paper highlights a fragmented and inefficient system in addressing money laundering and the confiscation of the proceeds of crime. It concludes that a robust money laundering framework, which meets international standards, requires strong legislative and institutional alignments that promote timeliness, collaboration and efficiency across many agencies.

Research limitations/implications

Findings are limited to Trinidad and Tobago and to the period ending December 2018. Accordingly, these findings lack generalisability.

Practical implications

Trinidad and Tobago needs to revisit its silo approach to anti-money laundering (AML). New policies which embrace harmonisation, collaboration and timeliness in adjudicating upon ML matters are critical.

Social implications

The negative socio-economic effects of money-laundering are considered in this paper. A disruption of money laundering and the confiscation of the proceeds of crime, benefits society economically and socially.

Originality/value

Trinidad and Tobago has been listed as a country with strategic AML deficiencies by the Financial Action Task Force (FATF). This study provides assistance in guiding much needed reform in the anti-money laundering area and has not before been undertaken.

Details

Journal of Money Laundering Control, vol. 22 no. 4
Type: Research Article
ISSN: 1368-5201

Keywords

1 – 10 of 592