Australia now requires lawyers, accountants and real estate agents to report suspicious customers, at huge cost – but will this help fight crime?
Articles on anti-money laundering
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Modest tax cuts, changes to the way superannuation is paid and a whole lot more – this is what’s changing from next week.
Anti-money laundering rules make it very difficult for ex-prisoners to open a bank account – meaning it’s harder to get paid or receive a benefit.
To curb the illicit drugs trade, law enforcement should look beyond individual drug busts and focus on capturing the illegal money that reaches so many parts of the global economy.
Food fraud costs billions globally. But blockchain and machine learning offer hope for a more transparent and safer food system.
A well governed financial system is effectively supervised by the central bank.
Higher education institutions are not explicitly included within the UK’s anti-money laundering regulations.
State and territory governments dependent on gambling revenues seem loathe to shut down casinos despite criminal activity.
Australian governments appear to implicitly accept that illegality comes with the territory of legal casinos.
Five years after David Cameron was pushing for tighter rules around disclosure of beneficial owners, nothing much has changed.
NatWest and HSBC are restricting customers in their crypto-dealings.
There is a growing trend to import another Americanism into the Canadian anti-money laundering strategy: a whistleblower incentive program that would amount to bounty hunting for violations.
Cosy personal relationships among the corporate elite abound. So what makes an independent director actually independent?
Rather than imposing a straight fine, taking away franking credits would ensure shareholders feel more pain when companies misbehave.
Some 10,000 people are likely to give up their US passport this year, way above average. Are they fleeing COVID-19? Nasty politics? Taxes? None of the above, says an expert on American citizenship.
We want to to believe in the power of shareholder activism, but reality is another thing.
Anti-money laundering rules give the comfort of doing something, but prevent surprisingly little crime.
Board directors of our biggest companies simply aren’t equipped to take on management. An idea floated 50 years ago could help.
Westpac’s decision to shut down its LitePay money transfer system will hurt people relying on remittances throughout the Pacific region.
The number one commandment of the anti money laundering law is “Know your customer”. AUSTRAC is alleging Westpac didn’t, and didn’t seem to want to.
Top contributors
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Associate Professor in Criminology, Macquarie University
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Senior Lecturer in Business and Commercial Law, Lancaster University
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Director
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Professor of Law, La Trobe University
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Senior Lecturer in Management Systems, University of Hull
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Lecturer in Law, University of Reading
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Scientia Professor of Economics, UNSW
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Senior Lecturer, School of Accountancy, Queensland University of Technology
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Professor of Data Analytics, Bangor University
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Lecturer in Fraud and Financial Crime Studies, Charles Sturt University
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Lecturer in Accounting, University of Wollongong
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Professor of Law, Cardiff University
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Law Professor, University of New England
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Senior Lecturer in Law, University of the West of England
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Associate Professor of Law, Australian National University