...George Pavlidis Purpose To critically examine recent developments and proposals for the regulation and supervision of ‘golden passport’ and ‘golden visa’ investment schemes in Europe. We argue that FATF standards constitute an appropriate response to money-laundering risks associated...

...Sutarno Bintoro; Sjamsiar Sjamsuddin; Ratih Nur Pratiwi; Hermawan Purpose To introduce new initiatives in combating money laundering and related corruption in the capital market sector through international cooperation between Indonesia and Australia. Design/methodology/approach This study...

... of an Interpretative Note in June 2019. We argue that new FATF standards constitute an appropriate response to money laundering and terrorist financing risks associated with virtual assets, but that they must be followed by firm, consistent and effective implementation at the national level. Design/methodology...

...Francesco Falco Purpose The purpose of this paper is to provide guidelines and inputs for the implementation of policies and procedures governing transactions and business relationships with politically exposed persons (PEPs) under the anti-money laundering (AML) legal framework. Design...

...Daren Allen Purpose To summarise a key development that provides clarity for banks on the operation of the money laundering provisions in the UK Proceeds of Crime Act 2002. Design/methodology/approach The article provides the background leading up to the UK Court of Appeal hearing, the key...

...B Viritha; Velu Mariappan; Varun Venkatachalapathy Purpose – The study was conducted to assess the level of compliance with regulatory guidelines on anti-money laundering (AML) in the scheduled commercial banks in India, and to understand the bottlenecks in AML implementation. Design...

...Martin Saunders; Chris Stott Purpose The purpose of this paper is to discuss recent trends in anti‐money laundering enforcement by UK regulatory authorities and the UK's response to recent EU anti‐money laundering regulatory reform proposals. Design/methodology/approach The paper describes HM...

...Martin Saunders; Chris Stott Purpose The aim is to explain the meaning of a May 2012 High Court decision and Financial Services Authority fine and their importance for money laundering reporting officers (MLROs) and those who oversee anti‐money laundering (AML) controls. Design/methodology...

...Musonda Simwayi; Guohua Wang Purpose The purpose of this paper is to assess the role of Money Laundering Reporting Officers (MLROs) in combating money laundering in Zambia's commercial banks. Design/methodology/approach Questionnaires were administered to MLROs in all commercial banks...

...Howard W. Goldstein Purpose The purpose of this paper is to explain the changes to the US federal money laundering and criminal fraud statutes contained in the Fraud Enforcement and Recovery Act of 2009 (“FERA”) Design/methodology/approach The paper explains how FERA extends the definition...

...TieCheng Yang; Nan Zhang Purpose The aim of this paper is to outline some key features of China's new rules on anti‐money laundering. Design/methodology/approach This paper describes the expanded definition of “anti‐money laundering”; the application of the rules to a broader group...

...Satish M. Kini Purpose To draw lessons learned from recent anti‐money laundering enforcement actions. Design/methodology/approach After providing a brief introduction to the AML regime, this article reviews the recent high‐profile enforcement actions. The article then examines what compliance...

...Alan E. Sorcher Purpose To summarize three implementing rules issued over the past year under the USA Patriot Act by the US Treasury Department Financial Crimes Enforcement Network (“FinCEN”) and to make some basic recommendations designed to help firms improve their overall anti‐money laundering...

...Terry Douglas Purpose The purpose of this paper is to summarize new guidance from the UK Joint Money Laundering Steering Group on best practices for anti‐money‐laundering and combating the financing of terrorism (AML/CFT). Design/methodology/approach Summarizes key changes including greater...

... of the compliance function in the prevention and detection of money laundering and fraud, details other areas of responsibility such as data protection and health and safety that may be found in some compliance departments, and discusses the Markets in Financial Instruments Directive (MiFID) requirement...

... that: correspondent accounts held on behalf of specified non‐US financial institutions; and private banking accounts, are subject to due diligence procedures to ensure that those accounts, and the financial institutions holding those accounts, are not being used for money laundering purposes. Design/methodology...