Anti-money Laundering Laws Research Articles

Compliance with anti-money laundering laws and their impact on banking operations in Pakistan: banking expert’s opinion

Purpose Despite sound anti-money laundering (AML) regulations and membership in the financial action task force, money laundering remains a severe concern faced by Pakistan because of its weak AML regime. This led to an investigation of the perceptions of banking expert’s regarding the AML law’s costs and complexity, mapping of compliance cost and measures taken by Pakistani banks in compliance with AML laws. Design/methodology/approach A socio-legal study approach was adopted based on library-based, and interviews using social media platforms to treasure the experts’ opinions regarding the impact of AML laws on baking operations in Pakistan. A semistructured interview-based questionnaire was handed out to Pakistani banking officers. Findings The findings revealed that, for banks to meet the AML obligation, they must overcome challenges including cost and complexity. Nevertheless, these costs are less expensive than the penalties assessed for noncompliance. Practical implications Following AML regulations can help the banking industry grow, which, in turn, attracts more foreign investment by boosting consumer confidence. However, it is difficult and expensive to comply with these requirements. The current research hopes that the financial regulatory authorities of Pakistan will adopt more effective measures for efficient compliance with AML laws. Originality/value The impact of compliance with AML laws on banking operations in Pakistan was examined in this study for the first time using banking officers’ opinions from various banks best of author’s knowledge.

Implementing The Anti-Money Laundering Law: Optimizing Asset Recovery in Corruption Cases in Indonesia

Corruption is still a severe problem in Indonesia. In 2022, the Attorney General Office of the Republic of Indonesia alone succeeded in handling 405 of 597 corruption cases in 2022, with a state loss of 39.207 trillion out of a total of 42.747 trillion. When the state loss is combined with the state economic loss, which refers to the indirect financial impact on the state due to corruption, the number will be up to IDR142 trillion. However, the total asset recovery through fines and state loss compensation was only IDR 8.9 trillion. Thus, it only recovers about 12% of state losses due to corruption. One of the efforts to recover state losses is applying the law on money laundering because its main objective is to pursue the proceeds of a crime, including corruption. This paper discusses how the money laundering law will be more optimal in recovering state losses due to corruption and its application in several cases. The method used in this study is normative legal research, especially case studies relating to implementing a money laundering law on corruption cases. From the study, it can be concluded that the anti-money laundering law was not optimally applied in asset recovery in corruption cases. Only in corruption, which indicates an actual state loss, can the anti-money laundering law be applied. Moreover, there should also be an indication that the money laundering process follows corruption. Applying the Anti-Money Laundering Law, whether in the investigation, prosecution, or trial of criminal acts of corruption, has not been optimal, so it has not supported efforts to recover state losses.

A research on the Italian fiscal shell companies turnover

Purpose The purpose of this paper is to study the turnover of Italian shell companies (SCs)/missing traders used for tax crimes, a predicate offence of money laundering. This research could be useful for Italian obliged entities to the Anti-Money Laundering Law to detect and report SCs, as soon as possible, to the Financial Intelligence Unit for Italy. Design/methodology/approach The author uses a sample of 32 SCs that are present in the Third Penal Section of the Italian Supreme Court in the period 2018–2020, involved in tax crimes and that have presented their balance sheets for two or more years. For SCs, the author computes the averages for: the turnover growth rate from first and the maximum turnover; the years between these two values; and the years in which SCs are active. Moreover, the author verifies if SCs are similar in terms of turnover by studying the relationship between the turnover growth rate and the first turnover and the reduction of turnover standard deviations. Findings SCs growth is very high and they reach, on average, their peak in less than three years; SCs are active, on average, for about four years; eventually, SCs exhibit a convergence process in turnover levels. Originality/value To the best of the author’s knowledge, there are no studies that analyse the SC turnover.

Spatio-Temporal Network-based Bank Transactional Behavior Analysis to Detect Suspicious Activities

Money laundering refers to the act of disguising the proceeds of illegal activities as legitimate funds. This is a significant problem as it enables criminals to profit from illegal activities and finance further criminal endeavors. Money laundering is also linked to other crimes, such as drug trafficking, terrorism financing, and corruption. To combat money laundering, governments and financial institutions have implemented various measures, such as Know Your Customer (KYC) regulations, Anti-Money Laundering (AML) laws, and the use of financial intelligence units. However, the existing money laundering system is complex, making it difficult to detect and prevent money laundering activities. Many current systems rely on outdated technology and manual processes, which can be time-consuming and prone to error. Therefore, there is a need for effective detection and prevention systems that can identify suspicious transactions and patterns of behavior. This project aims to prevent and detect money laundering activities by identifying suspicious transactions and monitoring the movement of funds through the financial system. The proposed system uses Long Short-Term Memory (LSTM) to detect and prevent money laundering activities. By analyzing the data in a time-series format, LSTM can identify unusual patterns of transactions and flag them for further investigation. LSTM can also predict future trends in financial data, allowing for the detection and prevention of potential money laundering activities before they occur. The proposed transactional network and behavior analysis system provides a more efficient and accurate method for identifying potential money laundering activities. This system can ultimately lead to a more effective and efficient anti-money laundering system. Keywords: Anti-Money laundering, Long short-term memory, Legitimate funds, Transaction network, behavior analysis, Time series format

ОПЫТ США, ШВЕЙЦАРИИ И ВЕЛИКОБРИТАНИИ ПО ПРОТИВОДЕЙСТВИЮ НЕПРАВОМЕРНОМУ ВЫВОДУ АКТИВОВ

Most developed countries have strict anti-money laundering laws that also help identify and prevent illegal asset withdrawals. For example, the Bank Secrecy Act in the United States and similar laws in other countries require financial institutions to exercise due diligence to prevent such practices. As part of the fight against money laundering and terrorist financing in developed countries, the fight against the illegal transfer of assets abroad is intensifying. This article examines the experience of three countries: the United States of America, Switzerland and the United Kingdom. As part of the work, approaches to countering the illegal movement of assets, measures aimed at asset recovery, as well as the legislative framework and its development in this area were studied. The application of the strategy of combining legal frameworks, international cooperation and the use of refund mechanisms; the main directions of the legislative and regulatory framework; laws on bank secrecy; on combating corruption, on corporate transparency is considered. Attention is paid to the issues of civil and criminal confiscation of property, investigative tools designed to combat suspicions of illegal enrichment, which require individuals to explain the origin of assets that seem disproportionate to their known legitimate income. As a result of the analysis of the experience of the United States of America, Switzerland and the United Kingdom, it was proposed to introduce best practices into the activities of the Russian Federation.

Diffusion of International Anti-Money Laundering Standards into Ethiopian Laws: Issues of Adequacy and Effectiveness

Ethiopia has signed and ratified several international and regional instruments adopted to combat and prevent money laundering (ML) and other forms of organized crime. To express the country’s commitment to implement these instruments and combat the threat of ML and associated predicate offenses to the country’s financial stability and national security, the government of Ethiopia has enacted various anti-money laundering (AML) laws. This article examines the diffusion of the international AML standards into Ethiopia’s legal system and the adequacy of the country's AML legal norms in addressing the structural causes of ML and its predicate offenses. A socio-legal research approach was utilized to conduct the study. It uncovers that Ethiopia’s AML legal norms have evolved primarily because of external pressure. Ethiopia was pressurized to comply with the international AML standards, specifically with the Financial Action Task Force on Money Laundering (FATF) 40 Recommendations. Eventually, the country’s AML norms comply with FATF recommendations. This saved the country from being labeled as a country with strategic AML deficiencies or being blacklisted as a non-cooperative country and territory. It is unlikely, however, to alter the structural causes of ML and its predicate offenses. To curb the peril of ML to Ethiopia’s economy and security, it is necessary to either transform the country’s economy from cash-intensive to cashless or enact comprehensive AML legal norms that reflect the country’s social, political, and economic settings.

Discrepancy Between the Object of Reporting Obligation for Banks Under Anti Money Laundering Law and That Which Must Be Kept Confidential Under Anti-Tipping Off Provisions

Based on anti-tipping off provisions, the object that must be kept confidential by the reporting party (inter alias, the Bank) is information related to Suspicious Transactions Report (STR). Meanwhile, things that become the object of reporting obligations for banks also include cash financial report (CTR), and international funds transfer instructions (IFTI). This paper will discuss the legal problems that arise and the paradigm that needs to be formed regarding the discrepancy between objects of reporting obligations for banks based on AML laws and objects that must be kept secret under anti-tipping off provisions. This paper was formed using normative research methods with conceptual, statutory, and comparative approaches. In this paper it is concluded that: (a) the legal problems that arise related to the issues discussed in this paper are that there are no specific provisions that expressively can be appointed if there is a disclosure of the fact related to CTR or IFTI; and (b) The paradigm that needs to be formed regarding the issues discussed in this paper is that Article 12 of the AML Law (anti-tipping off) is applied to violations of disclosing STR. Meanwhile, for the disclosure of CTR and IFTI, the provision that was applied was Article 11 of the AML Law.

The variability and clustering of Financial Intelligence Units (FIUs) – A comparative analysis of national models of FIUs in selected western and eastern (post-Soviet) countries

Financial intelligence units (FIUs) are crucial pillars of international anti-money laundering (AML) law as national authorities that gather, analyze, and disseminate financial intelligence to law-enforcement authorities (LEAs). This paper offers an in-depth insight into national models of financial intelligence units (FIUs) in ten selected Western (Canada, Denmark, Netherlands, Luxembourg, United States) and Eastern (post-Soviet) countries (Estonia, Latvia, Lithuania, Poland, Ukraine). A hypothesis that FIUs’ characteristics cluster along the West-East dimension is tested, based on a development of an analytical framework involving twelve potentially discriminative properties of FIUs, that characterize how a given FIU falls on a hypothetical continuum from primarily administrative to primarily law-enforcement organization and modi operandi. The findings are that, despite several decades of legislative efforts to harmonize FIUs worldwide, they are not homogenous. In fact, a West-East dichotomy between FIUs styles can be seen to the extent that Lithuania, Estonia and Poland form one cluster. On the other hand, Denmark, Netherlands and Luxembourg form another cluster. The exception that proves the rule, in this case, is Latvia, that falls within the Western cluster, not the Eastern one, due to a recent restructuring along “Western” lines. This analysis contributes to the knowledge-gap about FIUs governance in two ways. It provides a new theoretical framework of FIUs governance that hinges upon the “input-output” dynamics among FIUs, AML supervisory bodies, and law-enforcement authorities (LEAs). Furthermore, it demonstrates that blindly issuing new European AML legal standards, without regard for the idiosyncratic nature of these national bodies, is unlikely to produce substantive further harmonization results.

Adapting confiscation and anti-money laundering laws to the digital economy: exploring the Australian interplay between proceeds and technology

PurposeThe rise of cryptocurrencies and other digital assets has triggered concerns about regulation and security. Governments and regulatory bodies are challenged to create frameworks that protect consumers, combat money laundering and address risks linked to digital assets. Conventional approaches to confiscation and anti-money laundering are deemed insufficient in this evolving landscape. The absence of a central authority and the use of encryption hinder the identification of asset owners and the tracking of illicit activities. Moreover, the international and cross-border nature of digital assets complicates matters, demanding global coordination. The purpose of this study is to highlight that the effective combat of money laundering, legislative action, innovative investigative techniques and public–private partnerships are crucial.Design/methodology/approachThe focal point of this paper is Australia’s approach to law enforcement in the realm of digital assets. It underscores the pivotal role of robust confiscation mechanisms in disrupting criminal networks operating through digital means. The paper firmly asserts that staying ahead of the curve and maintaining an agile stance is paramount. Criminals are quick to embrace emerging technologies, necessitating proactive measures from policymakers and law enforcement agencies.FindingsIt is argued that an agile and comprehensive approach is vital in countering money laundering, as criminals adapt to new technologies. Policymakers and law enforcement agencies must remain proactively ahead of these developments to efficiently identify, trace and seize digital assets involved in illicit activities, thereby safeguarding the integrity of the global financial system.Originality/valueThis paper provides a distinctive perspective by examining Australia’s legal anti-money laundering and counterterrorism financing framework, along with its law enforcement strategies within the realm of the digital asset landscape. While there is a plethora of literature on both asset confiscation and digital assets, there is a noticeable absence of exploration into their interplay, especially within the Australian context.

Virtual assets and the prevention of money laundering: a critical and comparative analysis of the laws of Mauritius, Japan and South Africa

PurposeDue to their particular nature, virtual assets (VA) are vulnerable to financial crimes such as money laundering and if the appropriate legal mechanisms are not established, this may result in the financial collapse of various economies. To this effect, best practices and standards have been published by some international organisations such as the Financial Action Task Force and IMF which are now domesticated in the national laws of several countries. Therefore, the purpose of this study is to analyse the anti-money laundering (AML) legislative framework in the context of VA in three countries, namely, Mauritius, Japan and South Africa.Design/methodology/approachTo achieve the research objective, the Mauritian AML laws in the context of VA were compared with the corresponding laws of some other countries, namely, Japan and South Africa. As such, a qualitative research method was adopted. In particular, the black letter approach was used to examine the relevant laws of these countries. A comparative analysis was conducted concerning the relevance of AML laws for each country when dealing with VA with the view of suggesting recommendations for Mauritian stakeholders to adopt to enhance the existing AML legal and regulatory framework.FindingsThe comparative study conducted has revealed that there are both similarities and divergences among the AML framework of the three countries further to which this research recommends that the Mauritian laws must be amended concerning the duration of information storage on VA, the definition of VA, advertisement by VA service providers and the electronic submission of annual reports. The Mauritian regulatory bodies also need to play a more active role in their joint collaboration to monitor suspicious VA transactions to combat money laundering.Originality/valueAt present, this study will be among the first academic writings on the efficiency of AML laws in the context of VA in Mauritius and also, because existing literature is quite scarce on assessing the adequacy of AML legislation in developing countries, this research aims at filling in the gap in literature. This study is carried out with the aim of combining a large amount of empirical, theoretical and factual information that can be of use to various stakeholders and not only to academics.

The legal-criminal aspects of Iran’s anti-money laundering law in light of the FATF recommendations

PurposeThe purpose of this study is to examine Iran’s anti-money laundering (AML) system from a legal and criminal perspective and to understand the obstacles for international cooperation and the extent to which it aligns with financial action task force (FATF) standards. In this regard, three aspects are examined, namely, enforcement and guarantees of preventive measures, penalty for ML offences and the burden of proof.Design/methodology/approachThis subject is examined through the legal–criminal perspective, which concentrates on the effectiveness of legal measures in tackling criminal issues by focusing on criminal law. The legal–criminal viewpoint considers criminal behaviour as a breach of societal norms and strives to combat it through legal channels.FindingsIran’s AML laws and regulations are partially compliant with the financial action task force (FATF) recommendations. However, the main obstacle is not the lack of sufficient laws, rather the lack of proper implementation of these laws. In addition, there are foundational shortages, such as the absence of a national risk document to guide an action based on current risks.Originality/valueNo comprehensive study has analysed Iran’s AML laws, referring to the three main aspects of enforcement and guarantees of preventive measures, penalties for ML offenses and the burden of proof. In general, there are few research papers on Iran’s AML laws owing to Iran’s high ranking in ML/TF. However, analysing Iran’s regulations can be helpful in taking a step towards effective international AML practices.

PEMULIHAN ASET KORBAN PENIPUAN SEBAGAI TINDAK PIDANA ASAL DALAM TINDAK PIDANA PENCUCIAN UANG

: In a criminal offense we need to know clearly the criminal offense that occurred is a must. One of them is the crime of embezzlement formulated in Article 372 of the Criminal Code, which means that embezzlement is an act in which an object is in the power of a person not because of a criminal offense, but because of a legal act, for example because of storage, entrustment agreements, and so on. Then the person who is given the trust to store and so on controls the goods for himself unlawfully, then the person is committing embezzlement. In contrast to fraud as formulated in Article 378 of the Criminal Code, fraud means an act with the intent to unlawfully benefit oneself or others by using a false name, false dignity, deception or lies that can cause others to easily surrender their goods, money or wealth. These two criminal offenses can result in other actions that harm others with economic motives, which can be said that fraud and embezzlement are carried out to obtain a person's assets, one of which can be obtained by money laundering. Assets themselves are goods which in the legal sense are movable objects, both tangible and intangible, which are included in the assets or wealth or property of an agency, business entity organization or individual. The anti-money laundering regime in Indonesia has given birth to a new approach that no longer focuses on the perpetrators of crime, but on the assets of the proceeds of crime, known as the follow the money method. In addition, the law enforcement instruments against illegal assets contained in the Anti-Money Laundering Law are actually sufficient to reach not only the assets resulting from criminal acts but also their acquisition. Ideally, the assets resulting from the criminal offense are returned to the victim of the criminal offense through a court decision with permanent legal force that orders the seizure of assets for the state or returns to the rightful owner. Returning assets to victims by perpetrators in cases of property crime, fraud and embezzlement is not impossible. Return of assets in the form of compensation in this case can be implemented by merging cases. Victims of crimes with material losses, such as fraud and embezzlement, have the right to recover their property.

The Criminalization Of Illicit Enrichment in Combating Corruption in Indonesia

Despite Indonesia's ratification of the United Nations Convention against Corruption, 2003 (UNCAC, 2003), there are still some norms that have not been adequately accommodated by national anti-corruption laws, particularly concerning illicit enrichment. This legal study aims to examine the practical implementation of illicit enrichment as a corruption offense in Indonesia and propose the criminalization of illicit enrichment as a future corruption offense. The research methodology employed is normative juridical, which involves analyzing secondary data, with a focus on literature reviews and relevant legislation. The research findings and discussions indicate that the practice of illicit enrichment has been increasingly prevalent, as evidenced by cases involving defendants Bahasyim Assifie and Dhana Widyatmika, who were charged under different articles, namely Article 12 of the Anti-Corruption Law and Article 3 of the Anti-Money Laundering Law, which differ from the essence of illicit enrichment as outlined in UNCAC, 2003. Considering the enforcement practices, it is imperative to criminalize the act of unlawful enrichment or illicit enrichment through the revision of the Anti-Corruption Law or the Criminal Code.

Research on the legal path of protecting citizens' privacy from the perspective of anti-money laundering law

Anti-money laundering laws and regulations play an important role in cracking down on crimes and stabilizing finance. The 2021 Anti-Money Laundering (Revised Draft) in China strengthened its system value. However, things always have two sides, and the legal system also has certain risks, especially the lack of protection of citizens' basic rights. Citizens' basic rights and anti-money laundering are not contradictory but complementary. Only by protecting citizens' basic rights can citizens' information be established and anti-money laundering work be better promoted. This paper analyzes the risks from the perspective of privacy (including "the right to keep privacy secret" and "the right to maintain privacy from illegal infringement"), and puts forward solutions to provide ideas for further improving the series of laws and regulations of the Anti-Money Laundering Law.

Mutual legal assistance and extradition under anti-money laundering laws: a comparative analysis between Palestine and Malaysia

PurposeThe global cooperation and cooperation between nations at differing stages in anti-money laundering (AML) is critical. To improve the effectiveness of international cooperation in AML, it is essential to diversify international cooperation mechanisms and improve the capacity of law enforcement officers in the field of preventing this crime. This paper aims to provide a comparative analysis of mutual legal assistance (MLA) and extradition within the AML legal framework in Palestine and Malaysia. It investigates the gaps and weaknesses in Palestine’s AML legal framework and offers recommendations to address them.Design/methodology/approachThe present paper is solely legal. The method adopted in this research paper is qualitative research with an emphasis on the doctrinal mechanism. As a result, it concentrates on procedures, protocols, legislation and policies.FindingsThe Malaysian AML legal framework offers a clearer and more comprehensive framework for MLAs and extradition than the Palestinian AML legal framework. This framework is supported by laws that meet the basic requirements to support the issues of AML international cooperation. Both countries agree that the absence of a “bilateral or multilateral agreement” is not considered a reason for rejecting international cooperation in the field of AML with foreign countries. Moreover, the Malaysian AML legal framework divides the roles well between the law enforcement agencies and the competent authorities competing to Palestine.Originality/valueThis paper would be beneficial for the Palestinian legislative, policymakers and law enforcement agencies to make international cooperation, especially with MLAs and extradition effective.

Combatting money laundering in Saudi Arabia

PurposeThe purpose of this paper is to examine the effectiveness of the antimoney laundering measures in the Kingdom of Saudi Arabia in response to its commitments to the Financial Action Task Force and treaties in combatting money laundering.Design/methodology/approachTo explore the effectiveness of the Saudi antimoney laundering measures, this research’s data have been obtained by a qualitative approach that uses a combination of primary and secondary resources. It relies on analyzing Anti-Money Laundering Law (AML) and the process of money laundering detection in Saudi Arabia in relation to three cases from Saudi courts supported by journal articles, academic books and reliable websites.FindingsThis study concludes that the Saudi AML has been efficient and effective in the battle against money laundering. This study finds that there is close coordination and collaboration between financial institutions, banks and governmental agencies in Saudi Arabia to combat this phenomenon. This study also concludes that the AML is compatible with other criminal laws such as the Anti-Bribery Law, the Anti Trafficking in Person Law and the Anti-Drug Trafficking Law.Research limitations/implicationsThis paper relies mainly on publicly available information regarding the detection of money laundering schemes and the confiscation of proceeds of crime in the Kingdom of Saudi Arabia as a main source of information. There data available on the money laundering cases in the Saudi prosecution and criminal courts were limited due to the lack of public disclosure of such cases because of their sensitivity. This was made up for by using reliable sources in which some cases were reported.Originality/valueThis paper underlines the efficient aspects of the current AML that contribute to reduction of money laundering in Saudi Arabia. This paper emphasizes on the importance of the structure of collaboration between regulatory, financial and law officers to implement the rule of law and achieve justice.

A COMPARATIVE ANALYSIS TO EVALUATE THE EFFECTIVENESS OF THE LEGAL FRAMEWORK FOR ANTI-MONEY LAUNDERING IN MAURITIUS

The fight against money laundering has been a central issue for governments worldwide, with initiatives aimed at preventing the flow of dirty money. The value of money laundering is estimated to range from 2% to 5% of the global gross domestic product, thus, creating a compelling and urgent need to combat money laundering operations at both national and international levels.To effectively combat this issue, this paper seeks to analyse the various aspects of the Anti-Money Laundering (AML) Laws in Mauritius. It aims to identify the loopholes in the system and recommends ways to improve AML regulations in the country. The study uses the doctrinal methodology to analyse the laws and regulations of Mauritius on money laundering and terrorism financing.Additionally, the article uses a comparative approach to analyse the efficiency of the Mauritian AML Laws by comparing and contrasting the laws and regulations of Mauritius with those of the United Kingdom (UK). This will help the study identify areas where the country can improve its regulatory and legal framework to prevent money laundering and terrorism financing.

The adequacy of the legal framework for combating money laundering and terrorist financing in Nigeria

PurposeBanditry and terrorism constitute serious security risks in Nigeria. This follows the fact that Nigeria is rated as one of the leading states in the world that is plagued by terrorism. Terrorists and bandits usually embark on predicate crimes such as kidnapping, smuggling, narcotics trade, and similar trades to finance their terrorist enterprises in Nigeria. The funds realized by criminals from nefarious sources such as sales of narcotics and ransom from kidnapping are usually laundered to make their criminal enterprises self-sustaining. Thus, all “dirty” money is laundered so as not to attract the attention of law enforcement agents. The funds realized through receipt of ransom from kidnapping, smuggling or funds from sponsors are laundered through channels such as bureau de change, which are difficult to monitor by the Nigerian authorities due, in part, to flaws and loopholes in the current anti-money laundering and anti-terrorist laws. This paper aims to adopt a doctrinal and qualitative desktop research methodology. In this regard, the current anti-money laundering and anti-terrorist laws are discussed to explore possible measures that could be adopted to remedy the flaws and loopholes in such laws and combat money laundering and financing of terrorism in Nigeria.Design/methodology/approachThe article analyses the regulation and combating of money laundering and terrorist financing activities in Nigeria. In this regard, a doctrinal and qualitative research method is used to explore the flaws in the Nigerian anti-money laundering laws so as to recommend possible remedies in respect thereof.FindingsIt is hoped that policymakers and other relevant persons will use the recommendations provided in this article to enhance the curbing of money laundering and terrorist financing activities in Nigeria.Research limitations/implicationsThe article is not based on empirical research.Practical implicationsThis study is important and vital to all policymakers, lawyers, law students and regulatory bodies in Nigeria and other countries globally.Social implicationsThe study seeks to curb money laundering and terrorist financing activities in Nigeria.Originality/valueThe study is based on original research which is focused on the regulation and combating of money laundering and terrorist financing activities in Nigeria.

Efficiency Improvement of Legal Proceedings Under Anti-Money Laundering Laws by Employing Digital Forensic Evidence

This research aims tostudy obstacles, problems,and approaches to increase the efficiency of proceedings by usingdigital evidence according to the Anti-money Laundering Law.It uses qualitative measure. Key informants in theresearch consist of (1) specialist of Civil Servant Group, Anti-Money Laundering Office (Computer Academician),(2) specialist of Civil Servant Group, Anti-Money Laundering Office (Litigation Division Officers), and (3)prosecutor officers of the Attorney General. And this research uses snowball sampling to collect data via semistructuredInterviews; data are analyzed by content analysis method. The research indicated that the problemsof property legal proceedings under anti-money laundering laws using digital forensic evidence consist of anoperation, and an expansion of the investigation of property proceedings under anti-money laundering laws.There were suggestions as follows: The Anti-Money Laundering Office should formulate policies, strategies, andoperational plans to support the proceedings. And it should establish standards for digital evidence accreditationin line with central standards in order to incorporate digital evidence into the case files, thus significantly increasingthe efficiency of litigation.

Assessing the Introduction of Anti-Money Laundering Law on Trade Misinvoicing: The Case of Vietnam

This paper aims to investigate the effect of the introduction of the anti-money laundering (AML) law on trade misinvoicing in Vietnam. Trade misinvoicing is the deliberate falsification of the value or quantity of goods and includes overvalued imports and undervalued exports. The AML law can positively or adversely affect trade misinvoicing. Findings are practically important for investigating the real effect of future laws. A panel regression analysis is employed to isolate the effect of the AML law on trade misinvoicing. The hypotheses related to the effect of the introduction of the AML law are empirically investigated. Using panel data from 2000 to 2019, our empirical result is that the enactment of Vietnam’s AML accelerates trade misinvoicing. This finding supports the view that individuals and firms are shifting from traditional methods of money laundering through trade-based channels when the State Bank of Vietnam promulgated legislation that focuses on financial intermediaries. This paper specifically concentrates on the effect of Vietnam’s AML law on trade misinvoicing. We provide evidence that the introduction of the AML law encourages launderers to lean on cross-border trade to disguise their money. The findings suggest a number of important policy implications for combating money laundering, especially for transition economies, such as Vietnam’s.