Journal of Money Laundering Control: Volume 23 Issue 2

Editorial

Mark Turkington

Islamic financial institutions: conduits for money laundering?

Siti Faridah Abdul Jabbar

The purpose of this paper is to discuss various situations in the Islamic financial services industry that are asserted to facilitate money laundering and the counter-arguments to…

Canada’s financial intelligence unit: FINTRAC

Jeffrey R. Simser

International bodies, such as the Financial Action Task Force , have mandated the use of financial intelligence units (FIU) to address organized crime and money laundering. The…

How useful are anti-money-laundering efforts in combating bribery?

Fabian Maximilian Johannes Teichmann

The purpose of this paper is to discuss the role of anti-money-laundering mechanisms in combating bribery. In particular, it shows how parties receiving bribes can circumvent the…

Dirty money as legal fees in Namibia and Zimbabwe: are lawyers laundering proceeds of crime?

Jorum Duri

The purpose of this paper is to explore the contentious issue whether lawyers become launderers when they accept dirty money as legal fees. Lawyers represent criminal defendants…

Legal challenges for the cannabis industry

Peter Yeoh

The purpose of this paper to examine laws and regulations applicable to cannabis in the USA and the UK, including legal reforms and international treaty obligations.

Supervisory mandate of central banks and the spate of bank failures: who is to blame?

Norman Mugarura, Patience Namanya

This paper aims to examine how central Banks (in the narrow purview of Bank of Uganda) exercise their supervisory mandate to foster an efficient sound business environment for…

Introducing the missing 11th principle of the United Nations Global Compact to reach sustainability – follow the money…

Kalle Johannes Rose

Recent research has emphasized the need for engaging non-financial companies in combating money laundering for the efforts to be efficient and effective. To incentivize…

Financial information in the context of anti-money laundering: Broadening the access of law enforcement and facilitating information exchanges

George Pavlidis

This paper aims to examine three important interrelated issues that arise in the context of financial investigations: the access of law enforcement agencies to centralised bank…

Towards better implementation of the European Union’s anti-money laundering and countering the financing of terrorism framework

Harold Koster

On 24 July 2019, the European Commission adopted a Communication to the European Parliament and the Council towards better implementation of the European Union’s (EU) anti-money…

Challenges of accountability and development in Nigeria: An auto-regressive distributed lag approach

Oluwatoyin Augustina Matthew, Abiola Ayopo Babajide, Romanus Osabohien, Anthonia Adeniji, Olabanji Olukayode Ewetan, Omobola Adu, Folasade Adegboye, Felicia Omowunmi Olokoyo, Oluwasogo Adediran, Ese Urhie, Oluwatosin Edafe, Osayande Itua

The purpose of this paper is to examine the challenges of accountability and development in Nigeria. In the literature, corruption is seen as an indicator of a lack of political…

A causal model of the declaration intention of banks for suspected money-laundering transactions based on organizational commitment perspective

Te-En Chan, Ya-Hui Chan, Shu-Ping Lin

Anti-money laundering has attracted much global attention, driving banks to invest in the establishment of suspicious transaction report mechanisms for the declaration of…

Money laundering control in Mexico: A risk management approach through regression trees (data mining)

José Francisco Martínez-Sánchez, Salvador Cruz-García, Francisco Venegas-Martínez

This paper is aimed at developing a regression tree model useful to quantify the Money Laundering (ML) risk associated to a customer profile and his contracted products…

The State of Kuwait’s anti-money laundering & combatting terrorist financing infrastructure and performance evaluation

Mohammed Ahmad Naheem

The State of Kuwait operates a US$110bn economy and serves as an integral part of the global energy trade, holding over 9% of the world’s oil reserves. In addition, Kuwait is…

A study of receiving money by issuing defective deposit receipts

Chengjing You

This paper aims to convict the offender of real concurrence offenses of the most severe offense and applying the most severe penalty will result in no distinction between the…

Challenges of accountability in Nigeria: the role of deposit money bank

Abiola Ayopo Babajide, Adedoyin Isola Lawal, Lanre Olaolu Amodu, Abiola John Asaleye, Olabanji Olukayode Ewetan, Felicia Omowunmi Olokoyo, Oluwatoyin Augustina Matthew

The unhealthy drive for deposit in the banking sector has pushed many banks into unethical practices, thereby resulting in high-level corruption cases in the banking sector. The…

Seeking economic cyber security: a Middle Eastern example

Tanya Gibbs

The transformation of the United Arab Emirates (UAE) into an important global economic player has been accompanied by digitalization that has also left it at a risk to cybercrime…

The unexplained wealth order: a boost for Trinidad and Tobago’s fight against money laundering?

Marie Freckleton

This paper aims to explain the reasons for the introduction of unexplained wealth orders (UWOs) in Trinidad and Tobago and highlights potential obstacles to implementation.

Illustrating the incentivised steps criminals take to launder cash while avoiding government anti-laundering measures

Nicholas Gilmour

The purpose of this paper is to illustrate the incentivised steps criminals take to launder cash while avoiding government’s anti-money laundering (AML) measures.

Challenges in customer due diligence for banks in the UAE

Dina ElYacoubi

The purpose of this paper is to unpack the customer due diligence (CDD) vulnerabilities and to examine and analyze the UAE specific dynamics that make the country exposed to these…