Anti Money Laundering Regulations in Europe Comparative Analysis

2015 ◽  
Author(s):  
Patrycja Chodnicka-Jaworska
Keyword(s):  
Comparative Analysis ◽  
Money Laundering

A Comparative Analysis of the Extent of Money Laundering in Australia, UAE, UK and the USA

2010 ◽  
Author(s):  
Ali Obaid Alkaabi ◽  
George Mohay ◽  
Adrian Mccullagh ◽  
Nicholas Chantler
Keyword(s):  
Comparative Analysis ◽  
Money Laundering ◽  
The Usa

FATF’s Concerns and Pakistan's Measures for Compliance

2020 ◽  
Vol 3 (2) ◽  
pp. 185-196
Author(s):  
Tehmina Aslam ◽  
Muhammad Asad Aslam
Keyword(s):  
Comparative Analysis ◽  
Literature Review ◽  
Money Laundering ◽  
Task Force ◽  
Legal Assistance ◽  
Current Position ◽  
The Social ◽  
Terrorism Financing ◽  
Financial Action Task ◽  
Harsh Conditions

Since August 2018, Pakistan has been dealing with the Financial Action Task Force (FATF) to avoid its harsh conditions. The aim of the study was to examine the current position of Pakistan vis-à-vis the conditions laid down by the FATF. A literature review was conducted to assess the situation over 20 months and a comparative analysis was done. Findings of the study showed that the ministry took nine actions. First, it banned two main and eleven affiliated organizations. Second, it froze 976 moveable and immovable assets of the banned organizations. Third, it intervened in the social welfare activities conducted by the banned organization and seized relevant institutes. Fourth, it ministry convicted more than 200 individuals concerned. Fifth, it appropriated funds amounting to Rs 2,400 million. Sixth, it introduced the mutual legal assistance law and contacted about 84 countries to glean information from them. Seventh, it formulated asset-freezing regulations. Eight, it introduced the charity law across the country. Ninth, it tri-furcated the 4th schedule of the Anti-Terrorism Act of 1997 and established procedures for watching the prospective offenders. The result was that, in 20 months, Pakistan formulated policies meant for curbing money laundering and combating terrorism financing.

Forfeiture of criminal proceeds under anti-money laundering laws

2018 ◽  
Vol 21 (1) ◽  
pp. 104-111 ◽  
Author(s):  
Anusha Aurasu ◽  
Aspalella Abdul Rahman
Keyword(s):  
Comparative Analysis ◽  
Money Laundering ◽  
Design Methodology ◽  
Policy Makers ◽  
Content Type ◽  
Standard Of Proof ◽  
Terrorism Financing ◽  
Efficient Regime ◽  
Proceeds Of Crime ◽  
Similarities And Differences

Purpose Money laundering has been a focal problem worldwide. Governments constantly come up with initiatives to fight against this offence. To clean proceeds of corruption, the laundering of money is utilised, as it transforms “dirty” money into “clean” ones. A comparative analysis between Malaysia’s Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) and United Kingdom’s Proceeds of Crime Act (POCA) is performed on the basis of the similarities and differences of both legislations, in terms of forfeiture provisions. The purpose of this paper is to investigate whether the current forfeiture regime in both jurisdictions is effective in fighting against money laundering. Design/methodology/approach This paper is based on a doctrinal research where reliance will mainly be on relevant case laws and legislations. AMLATFPUAA and POCA are key legislations which will be utilised for the purpose of analysis. Findings Strengths and weaknesses of both AMLATFPUAA and POCA are identified through a comparative analysis where findings show that POCA is more comprehensive than AMLATFPUAA in terms of offences covered by it and standard of proof. With that, the anti-money laundering (AML) laws can further be improvised by being a better and efficient regime where Malaysia and United Kingdom will be able to discharge their duties effectively on forfeiting benefits from criminals. Originality/value This paper offers some guiding principles for academics, banks, their legal advisers, practitioners and policy makers, not only in Malaysia but also elsewhere.

scholarly journals Predicate Offences of Money Laundering and Anti Money Laundering Practices in Bangladesh Among South Asian Countries

2017 ◽  
Vol 12 (3) ◽  
pp. 63-75
Author(s):  
Mohammad Saiful Islam ◽  
Sharmin Akter Eva ◽  
Mohammad Zahed Hossain
Keyword(s):  
Factor Analysis ◽  
Comparative Analysis ◽  
South Asian ◽  
Money Laundering ◽  
Banking Sector ◽  
Model Development ◽  
Asian Countries ◽  
National Board ◽  
Development Factor ◽  
Test Of Hypothesis

Abstract The purpose of the study is to identify the main reasons of money laundering in Bangladesh among the twenty seven predicate offences of money laundering prescribed by Bangladesh Bank and position of Bangladesh among South Asian Countries regarding anti-money laundering practices. Besides, an anti-money laundering model has been developed to combat against money laundering as 14 percent bankers think that only existing know your customer form and transaction profile of banking sector are not enough to detect money laundering. To conduct the study, 91 bankers have been surveyed to take response through structured questionnaire regarding their opinion about the predicate offences of money laundering and sufficiency of existing KYC form of banking sector to detect money laundering. From the responses, factor analysis, test of hypothesis, correlation and regression analysis have been conducted using SPSS software. The study identifies that predicate offences of money laundering can be minimized mainly through scrutinizing the activities of local criminals with foreign network and strict anti-corruption measures through automation in National Board of Revenue, strict policy adoption of criminal detection and support from foreign experts. Besides, regression model shows that only six predicate offences of money laundering explains 87.2 percent of money laundering that should get more emphasize to combat against money laundering. From the comparative analysis, it has been found that Bangladesh in holding better position just after India among six South Asian Countries according to Basel AML Index score. This study provides a complete understanding of the position of Bangladesh in case of money laundering and anti-money laundering practices. The integration of four domains, i.e. AML model development, factor analysis, econometric analysis and comparative analysis of AML index will provide insights to managers and policy makers about the money laundering scenario in Bangladesh.

COMPARATIVE ANALYSIS OF CLASSIFICATION METHODS IN PROCESSING DATA ON THE ACTIVITIES OF CREDIT ORGANIZATIONS

2020 ◽  
pp. 29-39
Author(s):  
Yu. M. Beketnova
Keyword(s):  
Neural Network ◽  
Comparative Analysis ◽  
Money Laundering ◽  
Practical Importance ◽  
Support Vector ◽  
Classification Algorithms ◽  
Classification Methods ◽  
Processing Data ◽  
Decision Forest ◽  
Credit Institutions

The results of solving the classification problem of credit organizations from the point of view of possible involvement in the money laundering processes are presented. A comparative analysis of the results obtained using various modern classification algorithms is carried out. When analyzing credit institutions, Rosfinmonitoring analysts have to operate with large amounts of information. The actual need for the number of objects to be analyzed is in many times greater than the capabilities of analysts. This problematic situation requires prioritization of inspections. The heterogeneous nature of information resources and their significant volume exclude the possibility of their manual processing. It is necessary to move from successive expert examinations of individual objects to parallel mass automated checks, taking into account modern methodological and instrumental possibilities in the context of digital transformation of public administration. A comparative analysis of the results of processing data on the activities of credit organizations by classification methods – logistic regression, decision trees (algorithms of Two-Class Boosted Decision Forest, AdaBoost), the method of support vectors (algorithm of Two-Class Support Vector Machine), neural network methods (algorithm of Two-Class Neural Network), Bayesian networks (the algorithm of Two-Class Bayes Pointmachine) carried out. Of the classification algorithms considered, the most accurate results were shown by the algorithm of Two-Class Boosted Decision Forest (AdaBoost). The results obtained are of great practical importance and may allow Rosfinmonitoring analysts, as well as experts of the Bank of Russia, to identify deviant credit institutions potentially involved in money laundering processes.

Similar in Their Differences: Transnational Legal Processes Addressing Money Laundering in Brazil and Argentina

2012 ◽  
Vol 37 (02) ◽  
pp. 330-366 ◽  
Author(s):  
Maira Machado
Keyword(s):  
Comparative Analysis ◽  
Money Laundering ◽  
Task Force ◽  
Analytical Framework ◽  
State Change ◽  
Different Dimensions ◽  
Financial Action Task ◽  
Financial Intelligence ◽  
Output Legitimacy ◽  
Legal Processes

The purpose of this article is to provide a comparative analysis of the transnational legal processes that Brazil and Argentina underwent to address money laundering. The article discusses the interaction between the Financial Action Task Force (FATF) norms and a number of changes both countries have experienced in the last decade. The comparison focuses on the three central pillars of the anti-money laundering order (AMLO): criminalization, administrative obligations imposed on the financial sectors, and the creation of a financial intelligence unit. Building from the analytical framework developed by Shaffer (2011), the evidence gathered in this study illustrates different dimensions of state change and highlights the main challenges to assess the effectiveness (output legitimacy) of transnational legal orders empirically.

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