... this doctrinal possibility is beginning to translate into enforcement practice. Practical implications Financial institutions must integrate environmental crime typologies into their AML risk assessments, due diligence and transaction monitoring. ESG reporting alone is insufficient. Originality/value...

... and international obligation on the part of Pakistan to have better AML laws. The State Bank of Pakistan (SBP) has the monumental task of ensuring that all the banks and other financial institutions promote AML measures since it supervises the compliance levels of AML laws and measures (Sultan and Mohamed, 2023b...

...Olha Bondarenko; Maryna Utkina; Oleg Reznik; Mykhailo Dumchikov Purpose The purpose of this paper is to develop a new methodology for the interaction of law enforcement agencies with each other, financial institutions and other legal entities in the field of counteracting and combating...

...Darshan Kumar; Mark Eshwar Lokanan Purpose This paper aims to advance the professional knowledge, experience and expertise of anti-money laundering (AML) professionals by focusing on how money laundering (ML) impacts a variety of financial institutions (FIs) and in what ways the FIs can retaliate...

...Muhammad Saleem Korejo; Ramalinggam Rajamanickam; Muhamad Helmi Md. Said Purpose Money laundering (ML) is one of the greatest challenges, the global community faces today. Corporate entities such as financial institutions (FIs) are most susceptible to facilitate and launder money. The paper raises...

... to develop a trust relationship. These accounts are used to facilitate criminal activities for a short period. If the account is flagged by the financial institution, it may be closed and the actor will either direct the victim to open a new account or begin grooming a new victim (Federal Bureau...

... applied to financial institutions. According to the 2012 FATF Recommendations [Recommendation (R)10(i), (ii), (iii) and (iv)] (FATF, 2012), a financial institution should be required to undertake CDD measures when: The term “Know Your Customer” and the “KYC guidelines” originated in a legislative...

... Appeal relating to the dealing of proceeds of crime offence. Also, a guideline case on sentencing is also examined. In terms of legislation, the author briefly outlines the main provisions of the newly enacted AML and Counter-Terrorist Financing (Financial Institutions) Ordinance. Findings...

... burdens placed on financial institutions as a result of this marriage are discussed. Findings The paper, while recognising the importance of targeting terrorist money, contends that inherent differences exist between money laundering and terrorist financing, and fusing them together is a hasty...

... Money laundering Fraud Corruption Financial institutions Anti‐money laundering Financial intelligence units Organized crime Asset forfeiture Drugs Narcotics Conceptually, there are two pillars in most anti‐money laundering or AML systems: prevention and enforcement. Enforcement includes...

... acknowledged nexus between corruption and money laundering, a robust AML regime can be effectively utilised by Iraq to combat endemic public sector corruption. This regime must involve a system where financial institutions at their own expense monitor transactions and file suspicious transaction reports...

...Jeffrey Simser Purpose The purpose of this paper is to explore countering the financing of terrorism and its impact on financial institutions. Design/methodology/approach Actual examples of terrorist financing are considered, as well as the international and Canadian framework for financial...

...Abdullahi Y. Shehu Purpose The purpose of this paper is to discuss the impact of the recent financial crisis and the need for prudential management and effective supervisory and regulatory measures in ensuring the stability and integrity of the financial sector, especially financial institutions...

...Jerry Hart Purpose The purpose of this paper is to discuss the findings of a security research project commissioned by a financial institution to identify security breaches that could facilitate illicit access to confidential information. Design/methodology/approach Using penetration...

...Konyin Ajayi; Hamid Abdulkareem Purpose The purpose of this paper is to discuss the issues faced by financial institutions in detecting threats to their stability and integrity, and taking adequate steps to ensure that those who engage in abuse are detected and sanctioned. The focus...

... of the AML regulations elaborated by the policy makers. Research limitations/implications The paper limits its scope to the study of money laundering (ML) prevention focusing on the financial institutions – banks – which play the most important role in Russian AML network. Practical implications...

...Natalya Subbotina Purpose The purpose of this paper is to analyze the anti‐money laundering (AML) legislation created by the Russian regulator for the financial institutions with the aim to test banks' compliance with it. Design/methodology/approach Comparative analyses based on the data...

... of the prevention pillar of the domestic regime started only after the year of 2002. Money laundering Financial institutions Russia International cooperation Money laundering (ML) has, undoubtedly, become a significant issue not only in international community but also in domestic jurisdictions...

... by practitioners in the region. Findings It was discovered that the long‐term implications of US attitudes towards AML control had an effect of putting SE Asian financial institutions at a financial disadvantage when they came to deal with US regulatory demands, and that the question thereby raised was whether...

... and accountability for FIU; 9. dissemination of information; and 10. outcomes achieved by the FIU. Chris Patel can be contacted at: cpatel@efs.mq.edu.au © Emerald Group Publishing Limited 2007 Financial institutions Australia India Money laundering Crimes The study...