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Tax Havens and Their Use
Komárková, Renata ; Filipová, Vladimíra (referee) ; Kopřiva, Jan (advisor)
This master thesis deals with the characteristics of tax havens, approach beneficiary companies and way of their use and potential abuse. The first part defines basic terms, which are tax havens are closely linked. The second part is devoted to the characterization chosen tax havens in different areas of model-based taxation example of two types of companies. The third part contains the suggestions and recommendations for setting up a company in a tax haven.
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System for Anti-Money Laundering Risks Management
Uhrín, Peter ; Kreslíková, Jitka (referee) ; Bartík, Vladimír (advisor)
The aim of this work is to create a module for anti-money laundering risk management. The module should allow downloading and subsequent processing of a financial sanction database issued by the European commission in cooperation with the European Banking Federation and further manage its own blacklist. This module should be subsequently integrated into the existing information system of the company Platební instituce Roger, a.s. This module will allow easier screening of subjects against the financial sanction database, at the same time will provide the tools to create its own screening criteria and, last but not least, it will also allow inspection of the exposition of individual subjects. The resulting module will be implemented in Python programming language, using SQLAlchemy library for working with the database and Web2py framework for integrating the AML module into the company information system.
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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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Assessment of AML/CFT Practices and Suspicious Activity Reporting in the European Union member states
Vandasová, Daniela ; Pečená, Magda (advisor) ; Šíla, Jan (referee)
i Abstract This thesis presents an analysis of potential drivers of the numbers of suspi- cious transactions as precursors to money laundering conducted on the Euro- pean Union Member States between 2016 and 2021, and subsequently assesses the efficiency of the existing list of EU-recognized predicate offences to money laundering and financing of terrorism during this time period. Another con- tribution of this thesis is the consideration of the COVID-19 pandemic and assessment of its potential effects. This thesis used a newly compiled dataset containing EU-recognized predicate offences, enforcement factors, and macroe- conomic indicators. Based on the results of this analysis, the main drivers of suspicious transaction levels in the European Union between 2016 and 2021 were drug-related offences and the presence of the global pandemic of COVID- 19. Subsequently it was concluded that the list of predicate offences as recog- nized by the European Union was possibly not efficient in identifying plausible streams of money laundering during the analyzed period. Policy recommenda- tions that could arise from this analysis include promoting consistent reporting of indicators used in international legislation to allow for the development of a stronger data-based structure for further policy evaluation and...
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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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Virtual assets and money laundering
Špás, Martin ; Marková, Hana (advisor) ; Vybíral, Roman (referee)
and keywords Virtual assets and money laundering The thesis takes as its task the analysis of the connection of two phenomena. One is money laundering, which is characterized by a high social danger, and the other is virtual assets, which represent an advanced technology but are increasingly misused for money laundering. The aim of this thesis is to explain the issue of the use of virtual assets for money laundering and to evaluate the international fight against this illegal activity, in particular to assess the functionality and effectiveness of the current legislation at international, European and some national levels. The first part deals with the general characteristics of virtual assets. In particular, it focuses on the technical nature of virtual assets. The second part of the thesis focuses on money laundering in relation to virtual assets. The chapters deal with the concept of money laundering, the different stages of this activity, the current situation and some examples of the misuse of virtual assets for money laundering purposes. The third part of the thesis focuses on the fight against money laundering in the field of virtual assets. This part of the thesis will focus on measures against money laundering from the perspective of financial law. The first chapter deals with soft law, in...
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The crime of money laundering
Minařík, Martin ; Pelc, Vladimír (advisor) ; Hořák, Jaromír (referee)
1 The crime of money laundering Abstract This Master's thesis on the topic of legalisation of proceeds of crime aims to offer a complex analysis of the problematic aspects of this crime in its narrower sense, under the provisions of section 216 (2) and its negligence form in Section 217 (1) of the Criminal Code. The thesis in its opening part focuses on the terminology used in Czech law and the differences between the terms "legalisation of proceeds of crime" and "money laundering" and explains why it tends to use the latter term. The second part of the thesis is focused on the historical evolution of this crime in Czech criminal law and explains reasons for its incorporation in the old Criminal Code, and all the changes this crime has gone through, during the time in which the old Criminal Code was effective. The following part of the thesis focuses on the evolution of the crime of money laundering in the currently effective Czech Criminal Code with a special focus on the most recent amendment, which resulted in the merger of crimes of money laundering and crime of participation on the proceeds of crime in the Section 216 of the Criminal code. The third chapter of the thesis is focused on the most important international organisations and international documents which have built the foundations of...
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Cryptocrime, blockchain, and beyond: Investigating criminals' illicit use of cryptocurrency and exploring law enforcement opportunities
Ghimire, Mukesh ; Gallen, James (advisor) ; Alì, Antonino (referee)
In recent years, cryptocurrencies have evolved and become widespread. The anonymity and decentralisation of these technologies have attracted criminals who use them to buy and sell illegal products on the black market while hiding their identities and avoiding punishment. Cryptocurrencies, a new technological development, have their own positive and negative consequences as they can be used by criminals to perform illegal activities. At the same time, cryptocurrencies are being used by law enforcement bodies for investigations. Also viewed as a concern is the illicit use of cryptocurrencies for money laundering, terrorism financing and sanctions evasion on the global levels. The introduction and advancement of analytical tools enable law enforcement to track suspect addresses using the blockchain's records of bitcoin transactions. Concurrently, anti-money laundering (AML) rules and financial authorities have played a crucial role in the battle against money laundering and collecting vital role in the fight against money laundering and the collection of intelligence on suspicious activity conducted via financial institutions. This dissertation's study aims to evaluate the illegal and legal usage of cryptocurrencies to understand better whether they should be considered a danger to global or national...
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Position of offshore companies in financial law
Zaripov, Sergey ; Vondráčková, Pavlína (advisor) ; Novotný, Petr (referee)
Role of Offshore Companies in Financial Law - Abstract The aim of the thesis is to focus on the issue of the offshore companies which play an important role in international financial law, especially with regard to today's globalization. The thesis is systematically divided, while the introductory chapters deal with the definition of offshore and on-shore companies. It also provides the types of offshore companies and their most common uses along with the reasons for operating in offshore areas. The fourth and fifth chapters deal with the issue of double taxation treaties, including the methods contained therein, together with an analysis of the Multilateral Convention for the Suppression of Tax Cuts and Profits Shifting, abbreviated to MLI, and international tax planning which is one of the motives for company formation in offshore areas. The sixth chapter and the following chapters seek to define the concept of resident and non-resident companies, including the difference in the establishment of the company in the Czech Republic and in the territory of Guernsey together with the possibility of cooperation of two or more entities in the offshore territory within the so-called partnerships. Given the fact that part of the thesis deals with the impact of offshore companies on the global and domestic economy,...
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