Economic crimes and money laundering: a new paradigm for the criminal justice system?

Vervaele, J.A.E.

doi:10.4337/9780857934000.00040

Cited by 6 publications

(5 citation statements)

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“…To reach such a conclusion the ECtHR observed, on the one hand, that the purpose of the measure is not conclusive, since the 'aims of prevention and reparation are consistent with a punitive purpose and may be seen as constituent elements of the very notion of punishment'; 27 and, on the other hand, that not even the severity of the measure is decisive, since 'many non-penal measures of a preventive nature may have a substantial impact on the person concerned'. 28 The Court, therefore, found indications of a regime of punishment in other 23 Contrary to the Sud Fondi case, therefore, the acquittal was not a decision on the merits. 24 factors, such as the existence of statutory presumptions that reverse the burden of proof, the fact that the order was not limited to actual enrichment or profit but to all proceeds of crime, the discretion left to the judge, and the fact that a confiscation order could be converted into a prison sentence.…”

Section: The Key Question: Confiscation As a Criminal Sanction?mentioning

confidence: 97%

“…Consequently, it was impossible to foresee that a penalty could be inflicted. 22 Some years later, another case concerning the same kind of 'administrative' confiscation was brought before the ECtHR: in this case, the criminal proceedings had been discontinued on the grounds that the prosecution had become time-barred after the applicant had been convicted in the first degree; 23 nonetheless, a confiscation measure was applied. In Varvara, the ECtHR considered that measure as a penalty, and punishing a defendant whose trial has not resulted in a conviction as incompatible with Article 7 ECHR: 'a system which punished persons for an offence committed by another would be inconceivable.…”

Section: The Key Question: Confiscation As a Criminal Sanction?mentioning

confidence: 99%

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Confiscation and fundamental rights across criminal and non-criminal domains

Simonato

2017

ERA Forum

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Confiscation is one important component of contemporary policies against serious crimes. International organisations are increasingly encouraging national legislators to introduce more effective and incisive tools to deprive criminals of the illicit gain, even in the absence of a final conviction. The risks of abuses and interferences with fundamental rights are, however, evident. On several occasions, the European Court of Human Rights (ECtHR) has dealt with cases involving various forms of confiscation, but many aspects are still debated. This article aims to provide an overview of the variegated case law from Strasbourg, highlighting recent and possible future developments.

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Section: The Key Question: Confiscation As a Criminal Sanction?mentioning

confidence: 97%

Section: The Key Question: Confiscation As a Criminal Sanction?mentioning

confidence: 99%

Confiscation and fundamental rights across criminal and non-criminal domains

Simonato

2017

ERA Forum

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“…These steps respectively aim at cutting the link between crime and proceeds, at further transferring and confusing the latter with other assets to achieve the best possible dissimulation of their illegal origin and, finally, at introducing them into the legal economy as seemingly legal goods. 16 Examples for placement in the art market are the exchange of illegal drug proceeds for art 17 or its acquisition with misappropriated funds by politically exposed persons (PEPs). 18 The possibility, at least until recently, to do business discreetly in the art market eases the use of illicit proceeds to purchase art, thereby kicking off the laundering cycle.…”

Section: A Money Laundering Through Artmentioning

confidence: 99%

Give art market regulation a chance

Mosna

2022

Maastricht Journal of European and Comparative Law

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The article discusses the extension by Directive (EU) 2018/834 of new compliance obligations to art market participants against the background of a criminological examination of different types of laundering operations occurring in the art market. It highlights how this sector is a potential hub for ‘traditional’ money laundering operations as well as the target of antiquities trafficking which potentially finances other illicit activities such as terrorism. The relevance of an often-overlooked laundering phenomenon – cleansing operations of illegally sourced art that can be defined as art laundering – is stressed. In assessing whether introducing an anti-money laundering and counterterrorism financing regime into the art market can be considered a proportionate intervention, the burden on stakeholders due to compliance obligations, on the one hand, and the need to protect values endangered by laundering and trafficking involving art, on the other is evaluated. In light of the incidence of art crimes, in particular of art laundering, and of the potential for the new rules to effectively prevent these activities due to a relatively low risk of displacement, the conclusion reached is that the interests of supra-individual values, including that of cultural heritage, outweigh the economic concerns of art market actors.

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“…As a result of this complexity and the development of the processes of globalization the concept of ML has transverse relationship with criminal, administrative, financial and international public law. In the work of (Vervaele, 2013) the ambit of derivative offences is no longer confined to drug money, rather has extended to organized crimes, serious crimes and terrorism due to transnational feature of the crime. This further expansion to the financing of terrorism, the focus has not been limited to the illicit money of criminality; it also extends to the legal and illegal funds thus making the concept more complicate under criminal law perspective.…”

Section: The Concept Of Money Launderingmentioning

confidence: 99%

The concept of money laundering: a quest for legal definition

Korejo

Rajamanickam

Said

2021

JMLC

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Purpose This paper aims to focus on the concept of money laundering and explores the evolution and expansion of criminalization of predicate offences to the money laundering within the international anti-money laundering (AML) regime over the time. It proposes how to limit the size and scope of predicate offences in designing a balanced legal definition. Design/methodology/approach This paper opted a content analysis focussed on the criminalization aspect of offences to money laundering in the international AML regime under the United Nations Conventions (Vienna, Palermo and Corruption Convention) and Financial Action Task Force Standards. Findings This paper provides how the criminalization of money laundering has evolved and its definition expanded over the time. The international definition is widely drafted with wide range of predicate offences from proceeds of drug money to corruption, including terrorist financing and terrorist acts; however, the two phenomena – money laundering and terrorist financing are quiet distinct apart. This continual expansion of predicate offences quite leads legality issues such as over-criminalization and conflict with principles of criminal law. This paper suggests an approach to limit the size and scope of predicate offences to money laundering. Practical implications This paper includes implications for the development of a balanced approach in defining predicate offences through a qualitative limitation approach consistent with the minimalist theory of penalization of criminal law. Originality/value This paper attains an identified issue how the legal definition of the money laundering offence can be improved while considering rule of law and principles of criminal law concerns.

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Economic crimes and money laundering: a new paradigm for the criminal justice system?

Cited by 6 publications

References 0 publications

Confiscation and fundamental rights across criminal and non-criminal domains

Confiscation and fundamental rights across criminal and non-criminal domains

Give art market regulation a chance

The concept of money laundering: a quest for legal definition

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