Virtual currencies pose a serious threat to be used for money laundering, weakening the European Union's financial system. Directive (EU) 2018/843 (the fifth anti-money laundering Directive) intends to mitigate these risks by introducing a definition of virtual currencies within Union law. Some...

In the last two decades prolonged instances of corporate wrongdoing in Europe have been un-covered: from Siemens’ systemic bribery to HSBC and other major bank’s money laundering issues, Dieselgate, LIBOR price-rigging, and the recent Wirecard debacle. What has driven European firms to...

Purpose: The purpose of this paper is to measure anti-money laundering (AML) and counter-terrorism financing (CTF) disclosures by money exchanger providers in the Gulf Cooperation Council (GCC) countries.Design/methodology/approach: We conduct a content analysis on firms’ websites to compare...

The dispute settlement system of the WTO was faced with major challenges in its first few years. It has functioned very well in spite of serious pressures from the sheer number of cases that were brought; the increasing complexity and economic significance of disputes; the strict,short...

This articles examines 2 meanings of the term “rule of law;” the first being absence of lawlessness, and the second being the full range of laws, enforcement, that is described in the World Justice Project. Using those concepts, the article then looks at whether the rule of law, based upon...

Excessive and useless reporting, called “crying wolf effect”, is a crucial shortcoming that any anti-money laundering (AML) design aims to address and fix. For this reason, in these years the AML policy has switched both in the US and in Europe from a rule- to a risk-based approach. This...

Recent research highlights a need for non-financial companies to actively and effectively engage in the combat against money laundering and thereby support the financial sector in the struggle. Furthermore, research emphasize the need to combine anti-corruption and anti-money laundering efforts...

It is a controversial issue as to how to assess the effectiveness of the Anti-Money Laundering (AML) regime on the global arena. Based upon around 9,000 questionnaires circulated to AML professionals and other related staffs at the branches of banking institutions and People’s Bank of China as...

This paper examines insolvency law and practice in six Asian jurisdictions and is based on a socio-cultural study of the perceptions and practices of leading insolvency practitioners, officials and business people. The paper explores specific manifestations of “rule of law” as reflected in...