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Mugarura, Norman (2012)
Languages: English
Types: Doctoral thesis
The thesis examines the intricacies of the global AML/CFT framework focusing largely on the three jurisdictions of United Kingdom, Uganda and South Africa. These jurisdictions were selected to test the hypothetical model on which this study was undertaken. While appreciating the importance for states to embrace global prohibition regimes to deal with overlapping interstate issues such as money laundering, these regimes often tend to overlook practical realities in member countries they are implemented. Since the global AML framework is implemented through the compliance of individual states, its efficacy would depend on the propensity of individual states to harness it.\ud There is anecdotal evidence to corroborate the thesis that the current global AML/CFT framework is not compatible with the regulatory environment across the majority of LDCs. Thus, this presupposes that it cannot be applicable globally. LDCs are saddled by general systemic failure, lack of economic and social infrastructure; lack of physical and human resources, corruption and its corruptive effective on regulatory institutions and national governments. Even with the best intent, in the foregoing precarious environment, desired AML laws cannot effectively work as expected. Also, by design or default, soft law instruments (for example the FATF forty plus nine recommendations are not easy apply, let alone enforce globally.\ud The study proposes the need for countries to undertake desired reform programmes before they can countenance the adoption of the global AML/CFT framework. Since money laundering crimes are jurisdictional problematic—not amenable within the realm of individual states, it is imperative to introduce a global AML court. It is also imperative for states to consider adopting hybrid measures such as mutual recognition paradigm in Europe to ease their co-existence on overlapping global regulatory challenges. States should also explore the possibility of harnessing norms of CIL as opposed to prescribing regulatory regimes every time there is a crisis. However, it needs to be noted that the envisaged global AML/CFT regimes cannot crystallize into norms of CIL, unless they are willingly embraced by countries and not imposed.
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    • 1.3.1 Mutual Recognition Paradigm-----------------------------------------------------24
    • 1.3.2 The need for the global Court------------------------------------------------------29
    • 1.4 Objectives of the study-----------------------------------------------------------------32
    • 1.5 Hypotheses of the study--------------------------------------------------------------33 1.6 Methodology of the study------------------------------------------------------------33 1.7 Timescales and research tools-----------------------------------------------------35
    • 2.1 Introduction------------------------------------------------------------------------------55
    • 2.2A brief Overview of the UN, AML Initiatives---------------------------------------57
    • 2.3 The transposition of AML norms in Sovereign States--------------------------60
    • 2.4 The Justifications for global prohibition regimes--------------------------------62
    • 2.5 Open border and crime floodgate theory------------------------------------------66
    • 2.6 The role of IL in localization of global AML regimes----------------------------69
    • 2.7 Money Laundering as a criminal offence------------------------------------------70
    • 2.8 Money laundering several outcomes-----------------------------------------------75
    • 2.9 Typologies of money laundering----------------------------------------------------76
    • 2.9.1 The process of money laundering------------------------------------------------77
    • 2.9 2 Avoiding law enforcement----------------------------------------------------------77
    • 2.9.3 Strategy--------------------------------------------------------------------------------78
    • 2.9.4 Techniques of money laundering------------------------------------------------78
    • 2.10 The responsibility of banks in fighting money laundering-------------------89
    • 2.11 Money laundering Predicate offences--------------------------------------------98
    • 2.11.1 Corruption as a money laundering predicate offence--------------------104
    • 2.11.3 The role of the World Bank/IMF in fighting Corruption-------------------105
    • 2.12 Conclusion-----------------------------------------------------------------------------108
    • 3.1Introduction------------------------------------------------------------------------------109
    • 3.2 An Overview of the Global and other AML counter-measures-------------110
    • 3.3The UN Convention on Organised transnational crimes (Palermo)------118
    • 3.4The Legal status of United Nations treaties and CIL--------------------------121
    • 3.5 CIL as a Source of AML/CFT Obligations---------------------------------------124
    • 3.6 The European AML/CFT Directives----------------------------------------------127
    • 3.7 Sanctions mechanisms under the Directive------------------------------------131
    • 3.8 The Financial action Task Force (FATF) ----------------------------------------138
    • 3.8.1 Customer Identification Requirements---------------------------------------142
    • 3.8.2 Compliance with the Law--------------------------------------------------------144
    • 3.8.3 Financial Transaction Reporting (FTR) --------------------------------------145
    • 3.8.4 Mechanisms for sanctioning NCCs-------------------------------------------147
    • 3.18 The UNSCR against Money Laundering---------------------------------------151
    • 2.19 Conclusion-----------------------------------------------------------------------------157
    • 6.1Introduction------------------------------------------------------------------------------234
    • 6.2The IGG as a specialist anti-corruption institution in Uganda---------------235
    • 6.3 Institutionalisation based on European Union paradigm--------------------243
    • 6.4The role of NGOs----------------------------------------------------------------------247
    • 6.5 The role of civil society organisations (CSOs) --------------------------------247
    • 6.6 Judicial institutions--------------------------------------------------------------------249
    • 6.7The complexity of money laundering Offences---------------------------------250
    • 6.8The international criminal court (ICC) --------------------------------------------250
    • 6.9Time for a global AML court---------------------------------------------------------252
    • 6.10 The mechanics of the proposed global court---------------------------------261
    • 6.11 The principle of Active nationality------------------------------------------------267
    • 6.12 The principle of passive nationality----------------------------------------------268
    • 6.13 The universality principle-----------------------------------------------------------269
    • 6.14 International Police Organisation------------------------------------------------290
    • 7.1Introduction------------------------------------------------------------------------------281
    • 7.2Recommendations at a global institutional level-------------------------------281
    • 7.3The need for global wide consultations-------------------------------------------283
    • 7.4Integrating multiple legal systems within a global system-------------------283
    • 7.5The need for legal reforms-----------------------------------------------------------284
    • 7.6Mechanism for harmonization of laws--------------------------------------------286
    • 7.7 Financial sector reforms-------------------------------------------------------------287
    • CHAPTER EIGHT: CONCLUSION----------------------------------------------------301
    • Appendices----------------------------------------------------------------------------------317
    • Appendix 1: The FATF Forty Plus Nine Recommendations--------------------317
    • Appendix 2: The UN Convention in Palermo (2000)------------------------------334
    • Appendix 3: Questionnaire---------------------------------------------------------------360
    • CHAPTER NINE: REFERENCES AND BIBLIOGRAPHY----------------------368 1. Journal papers----------------------------------------------------------------------368 2. Books---------------------------------------------------------------------------------376 3. List of Cases------------------------------------------------------------------------384 4. List of Legislation------------------------------------------------------------------387 5. International Legal Instruments------------------------------------------------389 6. Soft Law Instruments-------------------------------------------------------------390 7. Websites-----------------------------------------------------------------------------390
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