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Beneficial owner in the Light of the AML/CFT Legislation
Roblová, Michaela ; Sejkora, Tomáš (advisor) ; Kohajda, Michael (referee)
Money laundering and terrorist financing present major social problems that can negatively impact economic growth of both, the state and the households. The ever-increasing globalization and the trend of removing barriers to the free market make it harder for the authorities to detect and investigate abovementioned crimes. That is why, in recent years, efforts have been made to cooperate in the fight against money laundering, both globally and at European Union level. The European Union keeps constantly improving the AML/CTF legislation. Thanks to that, the Czech Republic can keep up with the rapidly evolving techniques the offenders come up with. This thesis present one of the new legal institutes in the Czech law - beneficial ownership. The idea of beneficial ownership came from the Directive 2015/849 that was implemented into the AML/CFT Act n. 253/2008. Under the Directive, corporates and other legal entities such as trusts will be required to maintain accurate and current information on their beneficial ownership. Beneficial owner is an entity that enjoys the possession and/or benefits of ownership (such as receipt of income). The first part of the thesis concerns the general anti-money laundering and combating financing of terrorism problematics. It also tackles the concept of ownership...
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Comparison of legal instruments used in the fight against legalization of proceeds of crime in the Czech Republic and the Federal Republic of Germany
Šváchová, Lucie ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
The subject of my thesis is the identification and subsequent comparison of legal instruments which are intended to fight against legalization of proceeds of crime, which is also referred to as money laundering, in the Czech Republic and in the Federal Republic of Germany. The first chapter is to familiarize the reader with the issue of money laundering, therefore it provides the definition of the phenomenon of money laundering and also describes the typical phases of this process. The second chapter is devoted to international institutions that deal with money laundering on the supranational level and whose activities are then reflected in international standards. The third chapter deals with legislation related to the fight against legalization of proceeds of crime in the Czech Republic. First I focus on the history of the development of the struggle against money laundering in the country and subsequently describe particular laws designed to regulate the rights and obligations relating to the effective fight against this phenomenon. Further I describe particular obligations that fall on subjects, which may be confronted with efforts to launder money within its activities, and characterize individual institutions that are involved in the fight against money laundering. The fourth chapter is...
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The role of banks in the fight against money laundering and financing of terrorism
Pultarová, Hana ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Money laundering and terrorist financing are serious problems that may not only disrupt the stability and reputation of financial institutions, but also affect a wide range of individuals. Therefore, this kind of conduct can be punished as a crime, including the active involvement of banks in money laundering. However, the diploma thesis focuses mainly on preventive measures introduced by the provisions of administrative law. The role of a well-functioning banking system is essential for the effective suppression of money laundering and financing of terrorism. Banks are the most frequent reporters of suspicious transactions and the bank services are used by wide range of persons. The role of banks is mainly determined by their designation as obliged entities by the Act no. 253/2008 Coll., on certain measures against the legalization of proceeds of crime and terrorist financing. The obligations arising out of this act are put into context with the Czech Banking Act and with regulations governing payments and implementation of international sanctions, including directly applicable laws of the European Union. The importance of the bank services is also caused by the regulation of cash payments. In connection with the activities of banks, the thesis reflects selected changes that will be introduced by...
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"Money laundering - criminal and criminological aspects".
Babjaková, Radka ; Hořák, Jaromír (advisor) ; Gřivna, Tomáš (referee)
This thesis deals with the issue of money laundering in terms of both criminal and criminological perspective. The aim of this thesis is to analyse the issue of money laundering and to raise questions related to de lege lata discussions and de lege ferenda proposals, to formulate my opinion and to make recommendation for legislative changes. The first part (Chapters 1, 2 and 3) contains the definition of this term and discusses methods in which money laundering occurs. In addition to well-known methods, it is dedicated to new methods focusing on the use of virtual currencies and online computer games. The question of organised crime, which is very close to money laundering, is analysed too. The second part (Chapters 4 and 5) describes international regulation, legislation of the European Union and measures against legitimisation of proceeds of crime in Czech legislation. It is focused on the most important conventions and directives related to money laundering. This part also explains Act No. 253/2008 Coll., on selected measures against legitimisation of proceeds of crime and financing of terrorism, and activities of Financial Analytical Unit. The third part (Chapters 6 and 7) examines relevant Czech legislation, especially issues of money laundering using legal entities, their criminal liability...
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The issue of money laundering from the perspective of Czech law and legal practice
Foukalová, Zuzana ; Hraba, Zdeněk (advisor) ; Borkovec, Aleš (referee)
A B S T R A C T This diploma thesis deals with the issue of money laundering. This is a worldwide phenomenon, whose main aim is to disguise the true origin of the funds derived from criminal activity. It has strong potential to disrupt the functioning of the national economies of individual states, and at the same time undermine confidence in the financial and banking system as a whole. Therefore the efforts of the states and international organizations in preventing money laundering are not surprising. The first chapter is explaining the concept of money laundering with the most common semantic connotations including its legal definition. Then the thesis moves to the analysis of different stages and methods of money laundering with the focus on current trends as a virtual currency Bitcoin or trust funds. The third chapter is devoted to analysis of current legislation, both in the Czech Republic and also in the European Union and in the international arena in general. Chapter Four provides a comprehensive overview of the authorities responsible for combating money laundering as a Financial Analytical Unit, Czech National Bank or the Police of the Czech Republic. Following practical part is devoted to detail individual bank measures against money laundering. In this chapter I will try to capture how the...
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Activities of providers of financial services regarding the suppression of legalization of crime proceeds and terrorism funding
Auxt, Matej ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Suppressing the legalisation of the earnings of criminal activities along with the terrorism financing represent the essential aspect of terrorism and predicative crimes (from which the illegal earnings are obtained) prevention. Focusing on concealing the tracks of money transfers, the legalisation of the earnings of criminal activities and terrorism financing is being proceeded throughout a series of money transfers and with the help of other financial services. Therefore, it is crucial to mainly focus on the field of payment services providers when trying to supress these activities. For the purposes of supressing the legalisation of the earnings of criminal activities and terrorism financing the banks and other bodies on the financial market are relevant providers of the payment services. The key legal provision regulating the domain in question is the Act no. 253/2008 Coll. (regarding certain precautions against the legalisation of the earnings of criminal activities and terrorism financing) which puts the payment services providers in the role of liable subjects. The diploma theses analyses individual precautions against the legalisation of the earnings of criminal activities and terrorism financing, whose implementation is posed on the liable subjects by national legislation, as well as the...
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Economic crime and its prevention
Mišianik, Peter ; Gřivna, Tomáš (advisor) ; Herczeg, Jiří (referee)
1 Resumé The purpose of my thesis is to analyze the concept of economic crime in its whole size. The reason why I chose this topic is its international danger and high damage caused by this kind of crime. This subject is discussed in international organizations and is focused in its documents, because only international co-operation is able to fight with such crime. The thesis is composed of two parts (four chapters) - general and special. The first part (first and second chapter) is dealing with theoretical issues. The goal of this part is to introduce and define basic terminology found in the thesis like economic crime or financial crime. It is as well dealing with basic criminological characteristics of economic crime like the phenomenology, specifics of offenders, etiology or control mechanism and prevention of economic crime. The second part (third and fourth chapter) describes money laundering as a distinctive example of economic crime and the criminal liability of corporations as an instrument for fighting with economic crime. Describing the theoretical process of money laundering and focusing on legislative statute No. 253/2008, where the proper legislation is found, is the basis of chapter three. Chapter four is composed of three subchapters, where is described the term criminal liability of...
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Economic and legal aspect of money laundering
Dongres, Miroslav ; Hraba, Zdeněk (advisor) ; Bažantová, Ilona (referee)
v anglickém jazyce Economic and legal aspect of money laundering Miroslav Dongres The UN defines it as "Money laundering is a process which disguises illegal profits without compromising the criminals who wish to benefit from the proceeds". Money laundering is a dangerous activity. Funds that pass through this process become a source for a various criminal activities, such as terrrorism, corruption, etc. The thesis is composed of three main parts. First part deal with methods and stages of money laundering. Money laundering is a sophisticated activity, with a high degree of complexity, which requires a certain level of planning. entertain various features and steps which are necessary to clear the funds. Stages are named as placement, layering and integration. The first part is given to a few real examples of ways of money laundering. Money laundering is an international issue. In today's world where there is almost no borders is neccesary develop an appropriate international cooperation, both at global and regional which is one of the characters of fighting against money laundering. The Second part of thesis show some of international organization engaged in this illicit activity, such as UN, EU, FATF, etc. It also introduce their rules and programs to fight to money laundering. There is a large...
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Anti-money laundering measures from the perspective of financial law
Špás, Martin ; Marková, Hana (advisor) ; Vybíral, Roman (referee)
This thesis, titled "Anti-money laundering measures from the perspective of financial law" aims to introduce the essential aspects of the money laundering and futher to define basic procedures and methods for the fight against money laundering, not only on the national level but also on the international level. It is mainly focused on the description and explication of this worldwide phenomenon which is affecting the national economics and national interests. The primary objective is to evaluate the effectiveness of the current legislation, for example by comparative analysis of the different legislation in selected countries. In context of globalisation and development of information and communication technologies, it is necessary to develop the legislation constantly and to reflect new tendencies which money laundering lead to. This organised crime is a phenomenon threatening the global economy, therefore each state should develop and implement the right legal measures in this area in order to substantially reduce this economic crime.
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