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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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The Role of Legal Professionals in Combating Money Laundering
Plevová, Magdaléna ; Boháč, Radim (advisor) ; Marková, Hana (referee)
Legal professions and their role in combating money laundering The submitted thesis deals with the topic of combating the legitimisation of proceeds of crime for which the term 'anti-money laundering' (AML) is appropriate, while focusing on the role of legal professions represented by lawyers and notaries. This is a controversial topic because lawyers and notaries can act in different roles. On the one hand, when performing monitored activities, they have the status of an obligated person who applies AML measures in relation to their clients and their businesses in order to prevent the abuse of the financial system for money laundering. On the other hand, they fulfil the role of "gatekeepers" to money laundering efforts, due to the varied nature of services they provide. The aim of the thesis is to present these different roles of legal professions and to find out whether the Czech legislation in the area of AML has any significant shortcomings. In this context, it is also a task to evaluate the functioning of the AML system in the Czech Republic with a focus on legal professions and their most vulnerable services. To achieve the set goals in the thesis the methods of description, analysis, synthesis and comparison is mostly applied. The thesis provides an overview of the process of money...
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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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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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"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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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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Anti-money laundering and combating the financing of terrorism measures by securities broker
Magdičová, Taťana ; Kotáb, Petr (advisor) ; Vybíral, Roman (referee)
Anti-money laundering and combating the financing of terrorism measures by securities broker Abstract The diploma thesis deals with the issue of money laundering and terrorist financing. The thesis is dedicated to this area, especially from the point of view of securities brokers, who has obligations to apply several measures to prevent money laundering and terrorist financing through this financial institution. The aim of the diploma thesis is to confirm or refute the hypothesis "Measures against money laundering and terrorist financing are sufficiently clear and effective in the practice of a securities broker". The diploma thesis also tries to reveal the pitfalls of the current legislation of selected AML / CFT measures. Scientific methods of description and analysis were chosen to achieve the set goal. In terms of structure, the work is divided into four chapters: 1) Definition of the law against money laundering and terrorist financing, 2) Client identification, 3) Client control and 4) Other selected AML / CFT obligations of the securities broker. In order to achieve the goal, the first chapter summarizes the issue of money laundering and terrorist financing in a relatively concise way. Due to the fact that the professional literature does not pay enough attention to the field of terrorist financing,...
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The Crime of Money Laundering under the Czech Criminal Codex Abstract in English
Jüttner, Jakub ; Pelc, Vladimír (advisor) ; Hořák, Jaromír (referee)
1 The Crime of Money Laundering under the Czech Criminal Codex Abstract in English The diploma thesis aims to analyse the phenomenon of money laundering, i. e. activity the purpose of which is to cover the proceeds of crime. The thesis mainly focuses on the crime of money laundering in the Czech Criminal Code, respectively for the crime of legalization of proceeds under the provisions of Section 216 (2) and Section 217 (1) of the Criminal Code. Part of the thesis is also an analysis of the issue of so-called profits from unidentifiable sources. In the first chapter, the reader will find an explanation of basic terminology and principles. The first chapter is also accompanied by basic criminological data on money laundering in the Czech Republic. The following chapter deals with money laundering as a current phenomenon. In this chapter, the thesis discusses the concept of money laundering, the origin of money laundering, the features and stages of money laundering, the consequences and effects of the proceeds of crime, as well as the perpetrator of money laundering. The third chapter discusses the current legislation on money laundering, both criminal and non-criminal, which has also huge importance, also national, European, and international. The fourth chapter is devoted to the analysis of the crime of...
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Money laundering in the light of obligation of identification and due diligence
Šaroun, Petr ; Sejkora, Tomáš (advisor) ; Kotáb, Petr (referee)
Money laundering in the light of obligation of identification and due diligence Abstrakt Diploma thesis is focused on money laundering and some of the AML measures. Subject matter of this diploma thesis are two of those AML measures, specifically obligation to identify the customer and obligation to perform customer due diligence, which are required by Czech law. These AML obligations are essential to effectively prevent money laundering. The issue which is this diploma thesis dealing with is firstly whether the range of obliged entities is wide enough and secondly if the scope of conditions under which identifying the customer and due diligence must be exercised is chosen correctly. Diploma thesis is based on thought that for proper adjustment of the AML obligations is necessary to know ways used to launder money. Due to this thought there is a part of this diploma thesis focused on methods of money laundering which follows directly after introductory part focused on broader context. Methods of money laundering are partly well known, however there are quite significant modifications. One of the new challenges in this field is risk of misuse cryptocurrencies, that is why this diploma thesis pays considerable attention to cryptocurrencies. Methods of money laundering are followed with description and...
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