The anti-money laundering risk assessment: A probabilistic approach

Ogbeide, Henry; Thomson, Mary E.; Gönül, M. Sinan; Pollock, Andrew C.; Bhowmick, Sanjay; Bello, Abdullahi Usman

doi:10.1016/j.jbusres.2023.113820

Cited by 15 publications

(7 citation statements)

References 70 publications

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“…By understanding the problem of money laundering as a complex social phenomenon involving a variety of actors, their behaviours, and institutions, sociological approaches can provide valuable insights into the underlying social dynamics and contextual factors that contribute to money laundering risks. This includes analysing the social structures that facilitate money laundering, studying the relationships between financial institutions, businesses, and criminal networks (Klimova et al, 2020;Moiseenko et al, 2021;Ogbeide et al, 2023). Sociological research can encompass the study of the organizational culture of financial institutions and businesses that are prone to money laundering practices.…”

Section: Resultsmentioning

confidence: 99%

Untitled

2024

SLS

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The relevance of this study is determined by the current instability of the global political climate in the world and the outbreak of a number of military conflicts, which necessitates the study of the mechanisms of activity of structures that protect the interests of the population and the state. Thus, the purpose of the paper is to analyse the algorithm for the activities of civil defence authorities, particularly in wartime conditions. Among the methods used are the methods of logical analysis, deduction, synthesis, induction, functional analysis, analogy. This study provides a detailed analysis of the importance and key role played by civil protection agencies in addressing the challenges of protecting, ensuring security and developing society. The importance of their function lies in the effective implementation of strategies aimed at protecting the population and the state in times of threat and danger. The analysis in this paper takes into account the various components necessary for the successful management of various types of warfare. This includes the study of effective strategies for interaction and coordination between civil protection authorities and military command and control. Particular attention is paid to the key factors that determine the effectiveness of the organisation of interaction between military authorities and protection commissioners. Similarly, significant was the analysis of the demand for the resolution of qualitative foresight implementation tasks. Accordingly, an algorithm that will provide a more detailed and relevant examination of the wartime operational algorithm of the governing bodies has been developed. The practical value of the obtained results is that it will increase the appropriate level of combat alertness, the guarantor of the protection of the national interests of the state and its population, its territorial integrity and will generally raise the level of effectiveness of the relevant bodies considered

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Section: Resultsmentioning

confidence: 99%

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2024

SLS

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“…Legal education enables them to better understand how money laundering can damage the economy and society as a whole, and how important it is to conduct business with high moral and ethical principles (Alldridge, 2008). In the face of the complexity of money laundering issues in property transactions, legal education helps financial institutions to understand that they have a much bigger role to play than simply fulfilling legal obligations (Ogbeide et al, 2023). They need to internalise the importance of acting with high morality and business ethics, so that they not only avoid legal risks, but also contribute to sustainable social and economic development.…”

Section: Discussionmentioning

confidence: 99%

The Role of Legal Education in Raising Awareness of Financial Institutions on the Prevention of Money Laundering Crime in Property Transactions

Ananda,

Indarsih

2023

IMEIJ

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Money laundering is an illegal activity that has a serious impact on the global economy. It involves the process of concealing or covering up traces of the origins of illegal funds by channelling them through legitimate financial transactions. One sector that is vulnerable to money laundering is property transactions, where criminals often use investments in property to launder their dirty money. This research will explain the role of legal education in raising awareness of financial institutions on the prevention of money laundering in property transactions. This research is a literature review that uses a qualitative approach, which implies that data will be analysed and interpreted using information and text obtained from various sources. The results of the study show that legal education plays a crucial role in raising the awareness of financial institutions on the prevention of money laundering in property transactions. This awareness is needed especially in property transactions that have a high risk of abuse and money laundering, given that they involve large sums of money and high asset values. The importance of legal education is seen through several key aspects, including understanding of the law, risk identification, legal compliance, business ethics, employee training, co-operation with authorities, and internal policy development.

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“…56 Regarding the criminalization of Money Laundering itself as stated in the Money Laundering Law a quo, it is a manifestation of the Recommendation mandated in the FATF Recommendation, regarding the criminalization of money laundering offenses. From this explanation, at least it can be understood, the following things: (a) the objective of the establishment of the Money Laundering Law a quo (which among other things regulates the criminalization of laundering of proceeds), among other things, is in order to fulfill and revive the content of the international standard in the 56 Henry Ogbeide et.al, (2023), "The anti-money laundering risk assessment: A probabilistic approach," Journal of Business Research 162, p. 2.…”

Section: The Legislative Intents (Ratio Legis) Approachmentioning

confidence: 99%

Laundering of Proceeds Forest Destruction and Narcotics Crimes: A Resolution of The Conflict Norms

Yanuar

2023

Mulawarman Law Review

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This paper will explain about the conflict of norms that arise because there are 2 (two) similar provisions (offenses) in different laws, related to 'laundering of proceeds of the forest destruction crime ' and 'laundering of proceeds of narcotics crime'. Furthermore, it is also discussed which principles must be applied to resolve the conflict of norms, and which provisions (offenses) must be applied in that case. This paper uses a normative research with a conceptual approach, statutory approach, and case approach. Through this paper it is also concluded that in case of a conflict of norms between special norms and other special norms, the most relevant principle to be applied is the juridische/systematische specialiteit principle, and in the context of the conflict of norms that occurred in case of 'laundering of proceeds of the forest destruction crime ' and 'laundering of proceeds of narcotics crime', the more relevant provision (offense) applied is the 'Money Laundering Offense' as regulated in the Money Laundering Law.

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The anti-money laundering risk assessment: A probabilistic approach

Cited by 15 publications

References 70 publications

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The Role of Legal Education in Raising Awareness of Financial Institutions on the Prevention of Money Laundering Crime in Property Transactions

Laundering of Proceeds Forest Destruction and Narcotics Crimes: A Resolution of The Conflict Norms

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