Academia.edu no longer supports Internet Explorer.
To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser .
Enter the email address you signed up with and we'll email you a reset link.
- We're Hiring!
- Help Center
Cryptocurrencies as the new Money Laundering tool: EU's regulatory approach A thesis submitted for the degree of Master of laws (LLM) in Banking and Finance Law
2019, Mari Atzemian
Related Papers
Virginia Romero Sánchez-Herrero
A perceived risk in terrorist use and adoption of virtual currencies over the past few years has driven the widespread notion that this financial innovation represents a threat to security. This dissertation addresses this issue, examining the security implications associated to the rise of this technology. It argues that the risks of terrorist exploitation are in fact limited, these being primarily confined to their sporadic and ad hoc use as opposed to their adoption as a sustained financing method. Moreover, it contends that a number of practices have ultimately led to the ‘securitisation’ of this issue, or its framing in the logic of security and emergency, justifying for increased state control over virtual currencies. The dissertation first presents an overview of this question to subsequently sketch out a theoretical framework based on a critical approach to security. It then considers patterns and methods of terrorist financing to help situate virtual currencies in this context, arguing that some of the alleged benefits offered by this technology are limited. In consequently considering the case of ISIL, it determines that the organisation’s current financing needs are best served by their established methods and not virtual currencies. The final section then returns to the question of security, showing that a number of practices have resulted in the gradual securitisation of this technology, and advocating for its de-securitisation, or its negotiation in the political realm and not one defined by the logic of emergency.
Crime, Law and Social Change
Malcolm Campbell-Verduyn
Crypto-coins (CCs) like Bitcoin are digitally encrypted tokens traded in peer-to-peer networks whose money laundering potential has attracted the attention of regulators, firms and the wider public worldwide. This article assesses the effectiveness of the global anti-money laundering regime in balancing both the challenges and opportunities presented by these novel ‘altcoins’. Two main arguments are advanced. First, the implications that crypto-coins presently pose for global anti-money laundering efforts stem less from the threats of their illicit uses as digital currencies and more from the opportunities presented by their underlying blockchain technologies. Second, despite several shortcomings, the risk-based approach pursued by the Financial Action Task Force (FATF) strikes an effective balance between the existing threats and opportunities that crypto-coins currently present. Rather than a conclusive evaluation however this article stresses the need for continual monitoring and investigation of the wider ethical implications raised by CCs for global efforts to combat money laundering in an era of rapid technological change.
INTERNATIONAL JOURNAL OF ADANCED RESEARCH
FEMI T E M I T O P E JOHNSON
Money serves as a medium for which goods and services are exchanged. Anything that can be generally accepted for settling of debts and used for performing financial transactions is being referred to as money in the olden days. Many countries in the world have a generally acceptable and commonly used currency among their citizenry. The 21st century application and usage of money has transcended the notion and belief of the existence of money in the form of regular bank notes and coins. Nowadays, digital currency, electronic money or electronic currency is being in use with quite an appreciable number of people inclining their insight towards its effective usage and more countries adopting it for financial transactions as against the conventional forms of money. This paper surveys a number of related literatures to give a clearer and broader explanation of the concept of digital currency, the various forms in which digital currency exists. A comparison of the degree of acceptability of different digital currencies was discussed with the mode of operation of digital currency. However, prospects and challenges for the adoption of digital currency as a tool for national development were also highlighted.
Economy Informatics
Ștefan Zaharie Pop , Mircea Șcheau
Cryptocurrency market is estimated at several hundred billion dollars. The number of digital coins has exceeded the threshold of one thousand, each day appearing or disappearing some of them. Volatility, the difficulty in practical operation, high cost, associated risk and particular complexity make it quite difficult to choose one of the products without adequate counseling. Proponents of new technologies presents relevant arguments, while the appellants their call attention to the potential hazards/dangers to which expose themselves the investors. Reality offers us a spectrum that combines measures to limit the phenomenon development with the recognition and support from national and international organisms from which, however, is expected to adopt a joint position on the approach. Born at the end of the first decade of the second millennium, cryptocurrency has begun and continues to raise the interest of financial markets in general and specialized institutions in particular.
Maureen Owor- Mapp
The second roundtable brought together policy makers, the judiciary, financial regulators including the Central Bank of Uganda, financial supervisors, the police, cryptocurrency businesses and academia in critical discourse on the complex legal, socio cultural and policy issues of regulating crypto currencies and the implications of regulation for the wider meanings of currency. Participants agreed a number of recommendations and the need for principled guidance in line with the commitment of policy makers and regulators to promote technological neutrality, co-regulatory approaches, socio-cultural legitimacy, consumer protection and ethical practices that were fair, non-discriminatory and non-deceptive, and were underpinned by the principle of legality. To make it relevant to Uganda’s emergent tech enabled economy, the principles would be integrated into existing policies like the monetary policy, into strategies like the digital strategy, and into awareness-raising measures.
Comparative Law Working Papers
Bedrettin Gürcan
There have been several legal concerns of the services that stored or provided a base on the blockchain technology. There is some research to try to determine which kind of legal gaps may be emerged due to blockchain technology. In addition, the big part of the research on the topic examines current legal problems of the blockchain services. However, it has not been studied is the wide scope of the impact of blockchain technology in the different legal fields of law. This study is going to include extensive research into the motivations to blockchain legal frame on the several fields of the law. We will also examine the different solutions for the problem or legal gaps of the blockchain services in order to shape the legal framework of the blockchain technology.
Hubert de Vauplane
To what extent will central banks ever publish their own cryptocurrencies While the answer to this question is primarily political and economic, certain legal aspects must also be taken into account. Among these questions, the first one is whether these cryptocurrencies constitute a new form of currency or, on the contrary, whether they are part of the existing regulatory framework. But whatever the answer, these CBDC issued by central banks will have to meet the legal qualifications of legal tender.
Since the rise of the Islamic State of Iraq and Syria (ISIS, also known as Daesh and ISIL) in 2014, antiquities have been a widely publicized source of funding for what has become one of the most technologically savvy terrorist organizations of the modern era. The globalization of technology and rise of popularity in cryptocurrencies has changed the face of black-market trade and the actors that carry out these crimes. While art and antiquities have long served as a market with susceptibilities to laundering, the emergence of Dark Web markets, identification-masking software, and untraceable cryptocurrencies such as Bitcoin have opened new doors to potential vulnerabilities. The anonymity that is offered by these technologies acts as a roadblock for authorities, while attracting the likes of terrorists and transnational criminals. Investigative research using cyber security platforms to identify digital artifacts connected to potential traffickers provides the opportunity to unmask the seemingly untraceable actors behind these activities. The evidence of illicit antiquities trafficking on the Dark Web displayed in this article can generate a new discussion on how and where to study black-market antiquities to gain needed insight into combating the illicit trade online and the transnational criminal groups it may finance.
Policy Makers Workshop on Regulation of Cryptocurrency and the Blockchain
The first policy makers workshop in Uganda on the regulation of crypto currencies and the Blockchain, took place on the 4th and the 5th July 2018 at the Golden Tulip Hotel in Kampala. The aim of the workshop was to consider proposals for public consultations that drew on multi-sectoral approaches to policy making. A new interdisciplinary Working Group was set up to write a research brief that could form the basis on which the proposed Task Force on the Blockchain could develop a public facing policy consultation document on the regulation of distributed ledger technologies in Uganda. • Dr. Maureen Mapp, Convenor and report co-author. • Mr. Solomon Rukundo, report co-author • Mr. Patrick Mwaita- (UNAFRI) programme organiser. The event was co-sponsored by UNAFRI and the University of Birmingham Law School.
Internet Policy Review
Maxime Lambrecht
How promising is Bitcoin as a currency? This paper discusses four claims on the advantages of Bitcoin: a more stable currency than state-backed ones; a secure and efficient payment system; a credible alternative to the central management of money; and a better protection of transaction privacy. We discuss these arguments by relating them to their philosophical roots in libertarian and neoliberal theories, and assess whether Bitcoin can effectively meet these expectations. We conclude that despite its advocates' enthusiasm, there are good reasons to doubt that Bitcoin can fulfill its promises and act as a functioning currency, rather than as a mere speculative asset.
Loading Preview
Sorry, preview is currently unavailable. You can download the paper by clicking the button above.
RELATED PAPERS
European Journal of Comparative Law and Governance
Vlad Burilov
Mohamad Saleh
Aurelio Gurrea-Martinez
Regulating Blockchain. Techno-Social and Legal Challenges, OUP
Philipp Hacker , Georgios Dimitropoulos , Stefan Eich
International Res Jour Managt Socio Human
Alastair Berg
Filippo Annunziata
Nicole Fobe
Harvard Case Study Series
Trevor I Kiviat
IOSR Journals publish within 3 days
European Company and Financial Law Review
Philipp Hacker
Kavali Suresh
Anthony T Mazikana
Giovanni Perani
Supanut Phrom-anant
Abdullateef Abdul
Shashank Gupta
Francesco Lariccia
Asian Journal of Research in Business Economics and Management
Ahmed Muzakkir Syed , Shandar Siddiqui
Olcay Bige Aşkun
Debasish Ray Chawdhuri
Journal of Contemporary Economics
Miloš Grujić
Innovation Management, Entrepreneurship and Sustainability (IMES 2019)
Michael Neubert , Kenzie K. Ferguson
Douglas Jackson
Niklas Kossow
ACBSP Region 8 Fall Conference 2018
Michael Neubert
Tareq Muhammad Aziz Elven
Technology and Agency in International Relations
RELATED TOPICS
- We're Hiring!
- Help Center
- Find new research papers in:
- Health Sciences
- Earth Sciences
- Cognitive Science
- Mathematics
- Computer Science
- Academia ©2024
- Browse by author
- Browse by year
- Departments
- History of Thought
- Advanced search
| (2008) PhD thesis, London School of Economics and Political Science. This dissertation constitutes a systems theoretical analysis of Anti-Money Laundering that dismisses the projected ideals of holism and delves into the core of Systems Theory (ST) in the tradition of second-order cybernetics. This theoretical approach of ST is appropriated in order to describe the domain of Anti-Money Laundering (AML) as a system in itself and at the same time examine the consequences that technology comes to play within the system of AML. While the contemporary phenomenon of AML has been reduced mostly into a set of technological consequences from profiling technologies (technologies that attempt within financial institutions to model and simulate money-laundering behaviour for the generation of suspicious transactions), this dissertation takes a different approach. Instead of focusing at profiling technologies that are believed to be the core technological artefacts that influence AML within financial institutions, this dissertation examines a variety of information systems and their interplay and describes through empirical findings the multitude of interactions that are technologically supported and that construct a much more complex picture of dealing with AML and thereby influencing how money-laundering is perceived. The empirical findings supporting the theoretical treatise come from a longitudinal case study of a Greek financial institution where a systematic examination takes place regarding a variety of information systems that may affect AML within the bank. Beyond isolated interferences of information systems to AML, their interrelations are further examined in order to reflect on the emergent complexity that often distorts cause-and-effect AML manipulations. The theoretical contributions put forward, constitute a systems theoretical application and an expansion of technological/systemic interferences, while the practical contributions to AML cover broader systems-theoretical reflections on the domain, technological integration within financial institutions for targeting ML, feedback relations between financial institutions and Financial Intelligence Units, as well as the systemic consequences for the newly implemented risk-based approach.
Actions (login required)
 Downloads per month over past year View more statistics
|
IMAGES
COMMENTS
Title of Master ˇs thesis The phenomenon ˝money laundering ˛ Whose money is dirty and what are the effects? ABSTRACT Money laundering is a concept, which still is rather criminals ˇ business than anything else in most of us minds. Jendem Oy Ltd. as a consulting company found it interesting to explore more the phenomenon ˝money laundering ...
This publication is an adaptation of the master's thesis submitted to fulfil the requirements for the Master in Anti-Corruption Studies degree at the ... Anti-money laundering (AML) is no longer a topic that the world can afford to ignore, especially in these post 9/11 times. It is often described as a two-stage process, where
Master of Laws Thesis 2018 Money Laundering in the Banking Sector: A Critical Analysis of the Enforcement ... such as the Proceeds of Crime and Anti-Money Laundering Act, the Anti-Corruption and Economics Crime Act, the Banking Act, and the Central Bank Act. From the examination of the
The Governance of Money Laundering: Challenges in the European Union's Anti-Money Laundering Framework _____ Master Thesis Political Science . Political Economy . Presented to . The Faculty of Social and Behavioural Sciences . University of Amsterdam . Prof. Dr. Jonathan Zeitlin . Dr. Julian Gruin _____ by . Iris van Dijk . 12295825 . June, 2020
Laundering and Anti-Money Laundering Enforcement Nicolas Gibney Supervisor: Tina Søreide A Master's Thesis in Economics and Business Administration, International Business NORWEGIAN SCHOOL OF ECONOMICS This thesis was written as a part of the Master of Science in Economics and Business Administration at NHH.
banks in combating the money laundering is reviewed. In doing so the different types of the banks' anti-money laundering obligations are regarded. The thesis follows with the research of the banks' civil liability if they have failed to properly enforce the anti-money laundering measures and by doing so have caused losses to their customers.
Master thesis, MSc in Economics and Business Administration, ... between money laundering (ML) and AR. This thesis aims to analyze the impact countries' anti-money laundering (AML) regulations have on the amount of assets recovered. This is done by determining crucial factors in AR cases and assessing whether there is an empirical
Thesis Prepared for the Degree of MASTER OF SCIENCE UNIVERSITY OF NORTH TEXAS August 2001 APPROVED: Tory Caeti, Major Professor and Chair ... Anti-Money-Laundering Roles and Responsibilities in the U.S. International Anti-Money Laundering Organizations Anti-Money Laundering Tools
This PhD thesis adheres to the literature of law and economics, while trying to approach the. analysis of money laundering from a conception of choice that reflects human behaviour as. real as ...
Cryptocurrencies as the new Money Laundering tool: EU's regulatory approach A thesis submitted for the degree of Master of laws (LLM) in Banking and Finance Law August 2019 London - United Kingdom Student ID: 180413412 Supervisor's name: Prof. Charles Proctor Word count: 14.548 CONTENTS 1. ... Fourth Anti-Money Laundering Directive The ...
This dissertation constitutes a systems theoretical analysis of Anti-Money Laundering that dismisses the projected ideals of holism and delves into the core of Systems Theory (ST) in the tradition of second-order cybernetics. This theoretical approach of ST is appropriated in order to describe the domain of Anti-Money Laundering (AML) as a system in itself and at the same time examine the ...
an assessment of the economic effects of anti-money laundering in namibia a thesis submitted in partial fulfilment ... master of science in accounting and finance the university of namibia by paulus erastus student number: 200227190 april 2020 supervisor: prof. j. p. s. sheefeni (university of namibia) i
Master Thesis; Search: Search Vasbinder, Willem. 2022-07-19. The impact of EU anti-money laundering directives on the performance of financial institutions Publication Publication. Additional Metadata; Keywords: Anti-money laundering, Regulation, Anti-Money Laundering policy, Anti-Money Laundering directives, 4AMLD, 5AMLD, Financial institutions:
Consult the top 18 dissertations / theses for your research on the topic 'Anti-Money Laundering (AML).'. Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard ...
To put this in simple terms, money laundering refers to 'financial transaction scheme which aims to. conceal the identity, source, and destination of illicitly-obtained money'.56 The empirical study of the. money laundering phenomenon first started between the 1970s and 1980s where 'some suspected.
Degree for which thesis is submitted: Master of Science in Finance. Title of Thesis: "Analysis on the significance and effectiveness of anti -money ... effectiveness of anti-money laundering policies and regulations of Financial Institutions (Investment Banks) in India ". According to Dilip M Shah, Money laundering began in the form
Public Procurement Act No.8 of 2020 (Nationa Assembly of Zambia , 2020) regulates public procurement in Zambia. The act can play a key role on how procurement can be administered, and can aid in combatting public procurement corruption by drawing on the resources of the anti-money laundering legal framework in Zambia.
Master Thesis in Information Technology and Business Intelligence CentraleSupélec Specialization DSBI ... In terms of technical background, clustering methods are used (among others) in the development of the anti-money laundering solution. Two Step, for example, is one of the clustering methods used in the approach .It
influenced by anti-money laundering regimes, financial markets, the economy, geographical location and time. Typologies include patterns and structures used of money laundering between financial bank accounts. The term typology is used in this thesis since it is used in the anti-money laundering context.
Consult the top 50 dissertations / theses for your research on the topic 'Anti-money laundering.'. Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago ...
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles. Consult the top 34 dissertations / theses for your research on the topic 'Anti-Money Laundering and Counter-Terrorism Financing.'. Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically ...
Anti-money laundering at its current state is still quite new phe-nomenon in banks. To enable bank's inside anti-money laundering process to be ... This master's thesis is introducing anti-money laundering (AML) phenomenon in Finnish banking industry. AML topic is relevant from the many different points of view. Firstly, AML scheme has been ...