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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.
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Illegal wildlife trade (IWT) is a transnational organized crime that generates billions in criminal proceeds each year. Yet, it is not regarded by many countries as a serious…
Abstract
Purpose
Illegal wildlife trade (IWT) is a transnational organized crime that generates billions in criminal proceeds each year. Yet, it is not regarded by many countries as a serious crime. There is also no general consensus on its recognition as a predicate offence for money laundering. In this regard, banks are misused in different ways to facilitate financial flows linked to IWT. This paper aims to illustrate the importance of the banking sector in combating money laundering relating to IWT. It also aims to demonstrate the need for a general recognition of IWT as a predicate offence for money laundering.
Design/methodology/approach
This study investigates the implementation of money laundering controls by banks in the illegal-wildlife-trade context. As background to this investigation, it provides an overview of IWT, which is followed by an exploration of some of the general characteristics of the banking sector, before discussing the relevant Financial Action Task Force (FATF) recommendations.
Findings
This study finds that the banking sector is well-placed to combat money laundering relating to the IWT and is, by virtue of its international nature and strong focus on compliance, able to be effective in preventing the use of the proceeds of IWT as well as in identifying broader trafficking networks. Moreover, the banking sector is well-equipped to develop appropriate platforms to facilitate the swift, easy and effective sharing of financial intelligence between banks at the local, regional and especially international level.
Research limitations/implications
This study draws on publicly available information on financial flows relating to IWT. Little data and research are available on the financial flows and consequently the money laundering techniques used in cases suspected of IWT.
Originality/value
There has been little scholarly research on the relationship between money laundering and the IWT as well as the financial flows of IWT in general. This study highlights some of the money laundering techniques used in relation to IWT by drawing on the works of various international organizations, including the FATF.
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Theo Nyreröd, Stelios Andreadakis and Giancarlo Spagnolo
With sanctions becoming an increasingly important tool in ostracising autocratic regimes from western markets, the need for effective enforcement of sanctions and anti-money…
Abstract
Purpose
With sanctions becoming an increasingly important tool in ostracising autocratic regimes from western markets, the need for effective enforcement of sanctions and anti-money laundering (AML) is increasing, and the global AML regime will be the backbone to detecting evasion of sanctions. This regime, however, has been widely criticised as ineffective. This paper aims to discuss issues with the current sanctions/AML regime and propose a reward scheme for whistleblowers to enable asset seizures that is not reliant on its effectiveness.
Design/methodology/approach
This paper reviews weaknesses in the global AML regime, provide suggestions on how to design whistleblower reward programmes, based on agency experience and empirical evidence, as well as elaborate on how to use such programmes in the AML context.
Findings
This study concludes that for reward programmes to be effective in the context of AML and sanctions enforcement, they need to include witness protection and leniency for money launderers, though not for those convicted of a criminal offence associated with the predicate crime. Moreover, rewards should be mandatory and scale with the amount of money seized or confiscated, and the cap on monetary rewards should be higher than it is under the Kleptocracy Asset Recovery Rewards Programme in the USA.
Originality/value
In contrast to how the USA went about implementing rewards in this area under the Kleptocracy Asset Recovery Rewards Programme, this study argues that these programmes should be designed differently. This study also provides novel advice to governments on different design dimensions in the AML context and a model with three crucial pillars along with other design dimensions that should be considered.
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Karunanithi Kanagaraj and Ramalinggam Rajamanickam
The purpose of this paper is to explore and evaluate the current legal position on the admissibility and exclusion of illegally obtained evidence in money laundering cases.
Abstract
Purpose
The purpose of this paper is to explore and evaluate the current legal position on the admissibility and exclusion of illegally obtained evidence in money laundering cases.
Design/methodology/approach
A thorough exploratory analytical analysis signifies that such illegally obtained evidence from money laundering offences is admissible, provided it does not undermine the administration of justice or the right to a fair trial.
Findings
By virtue of the lack of written or codified rules governing the admissibility and exclusion of illegally obtained evidence in cases involving money laundering, the rule of admissibility remains the primary foundational principle for the governance of the admissibility and exclusion of illegally obtained evidence in money laundering cases.
Originality/value
The Malaysian Criminal Justice System has historically relied on the long-standing admissibility principles to admit and exclude illegally obtained evidence. For decades, courts have used their discretion to admit illegally obtained evidence based on the relevancy test, and they have further demonstrated to use the same discretion to exclude gravely prejudicial evidence. Evidence obtained illegally but if relevant to the matter in issue is deemed admissible. Evidence derived from an act associated with unlawful activities or a predicate offence in money laundering may be obtained illegally, which may influence the prosecution case and conversely, defend the accused’s rights to a fair trial.
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This study aims to determine how integrity influences money laundering combatting.
Abstract
Purpose
This study aims to determine how integrity influences money laundering combatting.
Design/methodology/approach
A qualitative approach using methodological triangulation was used to answer the question to describe and understand the phenomena from the participants’ perspective. Data was gathered with a semi-structured questionnaire, observation and field notes.
Findings
Analysis revealed that 93% of law enforcement investigators believe integrity is required to combat money laundering. They also observed that integrity is needed for the political environment, institutions and their personnel or officers.
Practical implications
There is a need for integrity in the economy’s public and private sectors to combat money laundering effectively. Integrity must be present in the political environment, institutions and personnel. Hence, a recommendation is to appoint chief integrity officers in all stakeholder organisations.
Originality/value
This study is among the few research that covers the area of integrity and its influence on combatting money laundering from law enforcement investigators’ perspective.
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This study aims to investigate Bangladesh’s e-commerce regulations in light of the growing criticism that they are insufficient to curb predicate crimes like fraud and money…
Abstract
Purpose
This study aims to investigate Bangladesh’s e-commerce regulations in light of the growing criticism that they are insufficient to curb predicate crimes like fraud and money laundering in the online marketplace.
Design/methodology/approach
This study used the exploratory design to examine the latest ministerial directives and laws governing e-commerce in Bangladesh to determine why they cannot prevent fraudulent activities in this promising sector and identify potential solutions.
Findings
Bangladesh’s regulatory responses to e-commerce fraud prevention and detection are reactive and inadequate. Regulators are unwilling and unable to enforce available legal provisions for various reasons, including a lack of knowledge and coordination among the agencies.
Research limitations/implications
This paper focuses solely on the legal and regulatory framework in place to combat e-commerce fraud. Other critical issues, such as consumer rights, privacy and data protection in e-commerce, are not addressed.
Practical implications
The findings of this study will assist policymakers in revising current regulatory approaches to e-commerce to protect this sector from criminal abuse.
Originality/value
This study looked into the possibility of using a proactive risk-based approach in the e-commerce sector, similar to what the Bangladesh Financial Intelligence Unit does in the financial sector.
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Recent developments in the EU’s anti-corruption strategy have brought the EU closer to meeting the UNCAC’s objectives, i.e. the Proposal for a Directive on combating corruption…
Abstract
Purpose
Recent developments in the EU’s anti-corruption strategy have brought the EU closer to meeting the UNCAC’s objectives, i.e. the Proposal for a Directive on combating corruption (2023) and the Proposal for a Directive on Asset Recovery and Confiscation (2022). This paper aims to discuss these developments from the perspective of the UNCAC, to identify missing elements in the EU’s asset recovery mechanisms.
Design/methodology/approach
Critical approach towards EU anti-corruption policy (discussing the problems and solutions). Review of EU developments in asset recovery law.
Findings
There is a political will on the part of the EU to fight corruption through the rules enshrined in the UNCAC. However, improving EU law by introducing a new type of confiscation of unexplained wealth and criminalising illicit enrichment, without establishing convergent rules for the return of corrupt assets from EU territory to the countries of origin, cannot be seen as sufficient action to achieve the UNCAC’s objectives. In modelling mechanisms of the return of assets, the EU should search for solutions to overcome the difficulties resulting from the ordre public clause remaining a significant factor conditioning mutual legal assistance.
Originality/value
This paper discusses the possible input of the EU, as a non-State Party to the UNCAC, to advance implementing the UNCAC solutions on asset recovery by establishing convergent rules for the return of corrupt assets from EU territory to countries of origin.
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Fahmi Bin Adilah, Mohd Zamre Mohd Zahir, Hasani Mohd. Ali and Muhamad Sayuti Hassan
The objectives of this study are to analyse the present Malaysian law regarding money laundering, to identify advantages and disadvantages of the current anti-money laundering…
Abstract
Purpose
The objectives of this study are to analyse the present Malaysian law regarding money laundering, to identify advantages and disadvantages of the current anti-money laundering law, to analyse its impact on the public sector and the private sector and to make recommendations on any improvements that should be made.
Design/methodology/approach
This study will use a qualitative method where the literature review method applies to collect primary and secondary data regarding anti-money laundering laws. Data has been collected from the various provisions of laws and text reading, such as books, articles, journals, law cases and thesis regarding anti-money laundering laws and those analysed with the content analysis method and the critical analysis method.
Findings
This study found that Malaysia has one law regarding anti-money laundering and they have control over individual and corporate entities in Malaysia.
Originality/value
This study found that Malaysia has one law regarding anti-money laundering and they have control over individual and corporate entities in Malaysia.
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