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Study Of The International Anti-money Laundering Legal System

Posted on:2008-07-22Degree:MasterType:Thesis
Country:ChinaCandidate:J ZhuFull Text:PDF
GTID:2206360215973123Subject:International Law
Abstract/Summary:PDF Full Text Request
With the significant development of economic globalization, Money Laundering(hereinafter referred to as "ML"), a new kind of crime first originated in the 20th century with a trivial harm at the first blush, is flooding with increasingly severe consequences never seen before. Realizing the harms caused by ML, more and more countries are targeting Anti-ML as the key element of their economic criminal law enforcement. Addressing this world-wide trend, on its 24th Conference scheduled on Oct 31st 2006, our nation's top legislature, the Standing Committee of PRC National People's Congress("NPC")opened the new era of our nation's Anti-Money-Laundering cause by adopting the Anti-Money-Laundering Law of PRC("Anti-ML Law"). Give the fact that ML is a typical felony involving great international elements, unilateral efforts can not solve the problem; yet internationally, enormous disagreements and differences exist among national laws and international treaties with respect to ML. Such discrepancies, which are reflections of each nation's unique culture and history, provide criminals with legal loopholes that are in urgent need of cross-border collaboration.This dissertation, based on newly enacted PRC Anti-ML Laws as well as an analysis on the format, current status, and development trend of modern ML, makes comparison study among leading countries laws and pertinent international treaties, discusses such topics as upstream crime control, international Anti-ML cooperation, etc., and proposes legislative suggestions for the refinement of PRC Anti-ML Law.Summarized below are the salient points of this dissertation:Chapter 1 General Introduction to MLThis chapter briefs on such background information relating to ML as its origin, history, character, and current forms, etc. In the first part of this chapter, the author presented the origin, history, and nature of ML and quoted and compared the definition of ML in some key international treaties and leading national legislations, which are the crystals of each country's unique history, culture, and legal heritage. And also in this part, based on these realities, modern ML's principal formats are analyzed and summarized; latest forms of ML, such as electronic ML, online ML, etc, are expatiated in depth. The second part of this chapter is about the Status Quo, latest development, and severe consequences of ML. First, by presenting detailed data and information as well as pertinent cases and precedents, the author unfolded the huge amounts of damages and severe consequences caused by ML. Second, given the increasingly complexity in the organization, professionalism in ML Crimes(which are evidences of ML's keeping up with the times), the author explained latest development trends of ML and came to the interim conclusion that these trends will shape tomorrow's measures of Anti-ML. Finally, the author analyzed severe consequences of ML, pointed plainly that(a) the subject matter infringed by ML is economic and financial order of our nation, (b) ML provides cradles to upstream crimes and financial supports to other felonies, (c) the severe consequences of ML necessitated the refinement of our fight against Anti-ML.Chapter 2 Current international ML Legislations and PracticesThis chapter consists of two parts. PartⅠis a general description of leading countries'(includes countries from both Common Law and Roman Law System, such as US, UK, German, Switzerland, etc.) current legislations and practices concerning ML, concluded by a summarization of the merits of each country's legislation which constitutes the theoretical basis for further discussion on international lawmaking on ML. PartⅡexplains several key international treaties on ML such as the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances and The Financial Action Task Force Report of February 1990(with its 40 recommendations for action), via a comparison of them, articulates the directions and trends of international efforts on Anti-ML. Such analyses are the foundation for domestic legislative proposals by the author.Chapter 3 PRC Anti-ML Law IntroductionThis Chapter briefs on the history and development of PRC Anti-ML Law as well as PRC Anti-ML Cause. Thereafter, Chapter 4: (a) comments on the achievements by recent PRC ML legislations in such areas as financial regulation, expansion of upstream crimes of ML, establishment of Agency specifically committed to Anti-ML; (b) objectively evaluates the achievements and innovations of PRC Anti-ML. Chapter 4 Academic Suggestions for PRC ML LegislationsSuggestions in Chapter 4 can be divided into two parts. PartⅠfocuses on domestic legislations summarized as follows: (a) further expansion of ML's upstream crimes by bridging the gap between PRC Laws and international legislations; (b) adoption of the concept of "Negligent ML" which has been adopted by many countries and has helped refine ML legal regime; (c) aggravation of criminal liabilities because current punishments on ML are showing loopholes; (d) establishment and improvement of relevant forfeiture regime. On the basis of the above analyzed on leading-edged international legislation, PartⅡgoes on to make proposals on international judicial cooperation: (a) further alignment of different countries' definition of ML; (b) reasonable assignment of criminal jurisdiction on ML among countries; (c) establishment of scientific fund-recovery system; (d) expansion of cross-border judicial assistances of such other kind as investigation, evidence collection, extradition, etc. At the end of this Chapter, the writer also comes up with the idea that in controlling ML, various levels of non-judicial cross-border cooperation that will facilitate communication, increase common ground, advance collaboration, and refine legal regimes, are inalienable. The writer is also of the view that long-term and wide-range international collaboration, gradually cultivation of Anti-ML awareness, improved Anti-ML environment, extension of judicial cooperation to much-wider non-judicial international cooperation, mutual assistance and reference, are all essential to the ultimate elimination of ML.
Keywords/Search Tags:Money Laundry, Cross-Border Cooperation, Cross-Border Money Laundry, Upstream Crime
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