Preventing the use of financial institutions for money laundering and the implications for financial privacy

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dc.contributor.authorLe Nguyen C
dc.date.accessioned2020-10-27T03:25:12Z
dc.date.available2020-10-27T03:25:12Z
dc.date.issued2018en
dc.date.updated2020-10-13T08:11:42Z
dc.description.abstract© 2018, Emerald Publishing Limited. Purpose: This paper aims to discuss the implication of money laundering preventive measures for financial privacy, with the focus on banking secrecy. Design/methodology/approach: This paper, first, sets out the principal measures imposed on financial service providers to prevent money laundering. The interaction between the preventive measures and the desire for financial privacy is then discussed. Findings: The adequate implementation of the preventive measures is highly important for financial institutions to be secure from money laundering. Nonetheless, the enforcement of these measures is becoming much more intrusive into financial privacy. In practice, financial privacy should be weighted fairly against the objectives of preventive measures. Originality/value: This paper would be a good guidance on how to deal with tension and potential conflicts of interests between law enforcement authorities and financial service providers and between the protection of financial privacy and the objectives of the money laundering preventive measures.en
dc.identifier.citationLe Nguyen C (2018). Preventing the use of financial institutions for money laundering and the implications for financial privacy. Journal of Money Laundering Control. 21(1). 47-58.en
dc.identifier.doihttp://doi.org/10.1108/JMLC-01-2017-0004
dc.identifier.issn1368-5201
dc.identifier.issn1758-7808
dc.identifier.urihttps://hdl.handle.net/10092/101181
dc.languageen
dc.language.isoen
dc.publisherEmeralden
dc.rightsCreative Commons Attribution Non-commercial International Licence 4.0 (CC BY-NC 4.0)en
dc.rights.urihttp://hdl.handle.net/10092/17651en
dc.subject.anzsrc1602 Criminologyen
dc.subject.anzsrc1605 Policy and Administrationen
dc.subject.anzsrc1801 Lawen
dc.subject.anzsrcFields of Research::35 - Commerce, management, tourism and services::3502 - Banking, finance and investment::350204 - Financial institutions (incl. banking)en
dc.subject.anzsrcFields of Research::48 - Law and legal studies::4801 - Commercial law::480101 - Banking, finance and securities lawen
dc.subject.anzsrcFields of Research::44 - Human society::4402 - Criminology::440219 - White collar crimeen
dc.titlePreventing the use of financial institutions for money laundering and the implications for financial privacyen
dc.typeJournal Articleen
uc.collegeUC Business School
uc.departmentSchool of Law
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