Journal of Money Laundering Control: Volume 24 Issue 2

Editorial

Dr Peter German QC

Confiscation of proceeds of crime in Vietnam: improving the legal framework

Thu Thi Hoai Tran, Louis De Koker

The purpose of this paper is to analyze the Vietnamese laws and practices concerning the confiscation of proceeds of crime, especially in view of Vietnam’s obligations to meet the…

Role of FATF on financial systems of countries: successes and challenges

Nankpan Moses Nanyun, Alireza Nasiri

This paper aims to examine the extent of successes and challenges of adoption and implementation of Financial Action Task Force (FATF) codes in member states by highlighting the…

Tackling suspect wealth: towards an accountable and transparent future?

Sally Junsong Wang

The purpose of this paper is to provide an empirical comparative analysis on cross-border suspect wealth issues and international efforts to curb corruption-related suspect…

How effective are the current global standards in combating money laundering and terrorist financing?

Sisira Dharmasri Jayasekara

The purpose of this paper is to study the impact of global anti-money laundering and countering the financing of terrorism (AML/CFT) standards on combating money laundering and…

Challenges of identifying and monitoring politically exposed persons (PEPs) in Latin America

Joel Harry Clavijo Suntura, Piedad Maribel Rosero Rosero, Gloria Esperanza Aragón Cuamacás

The purpose of this paper is to analyze politically exposed persons (PEPs) according to Financial Action Task Force (FATF) Recommendations and assess the identification process…

The 1MDB case and the Swiss banking sector

Fabian Maximilian Johannes Teichmann, Marie-Christin Falker

This case study highlights why and how the Swiss banking sector played a crucial role in the 1Malaysia Development Berhad (1MDB) corruption scandal. In particular, the paper…

Tackling money laundering in Tanzania: are private legal practitioners crime enablers or ineffectual and reluctant gatekeepers?

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 activities and…

Morocco’s market economy expansion and its successful strategy in combatting money laundering and terrorist financing

Mohammed Ahmad Naheem

Morocco is an expanding developing economy in North Africa with increasing bilateral trade relations with larger economies. This paper aims to examine the features of the…

Taxonomies of money laundering: an Iranian perspective

Vahid Molla Imeny, Simon D. Norton, Mahdi Salehi, Mahdi Moradi

This study aims to identify the sources of laundered money in Iran and the destinations to which it is transferred, independently verified by auditors. Based on such data, the…

Fiscal federalism and accountability in Nigeria: an ARDL approach

Olabanji Olukayode Ewetan, Romanus Osabohien, Oluwatoyin Augustina Matthew, Abiola Ayopo Babajide, Ese Urhie

The purpose of this paper is to examine the relationship between fiscal federalism and accountability in Nigeria. Corruption is a global plague and is endemic in nature. Several…

A methodology for enterprise-wide risk assessment in small banks and credit union

Philippa Duncan

This paper aims to provide an easy to follow, practical guide for small traditional banks and credit unions to conduct an enterprise-wide risk assessment of the financial…

Anti-money laundering and anti-terrorism financing: a survey of the existing literature and a future research agenda

Noura Ahmed Al-Suwaidi, Haitham Nobanee

There is a significant focus today on the deficiencies of the financial system as the sector continues to boom while facing the growing pains of financial scandals, money…

Banks in Kenya and anti-money laundering obligations: the conflicts of interests arising

Constance Gikonyo

Kenya is vulnerable to trade-based and other forms of money laundering. Banks are prime targets for money launderers since they can facilitate the processes of placement, layering…

How effective are financial sanctions against individuals?

Fabian Maximilian Johannes Teichmann

The purpose of this paper is to discuss the role of money laundering methods in circumventing sanctions against individuals. In particular, it shows how politically exposed…

Analysing the AAOIFI Sharīʿah standard on zakat

Khurram Parvez Raja

The Sharīʿah Standard No. (35) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) aims to identify the zakāt base for institutions…