The purpose of this study is to identify how the U.S. is responding to money laundering and what kind of problems arise while countering it, beginning with a detailed description of money laundering, its stages, typologies, impacts, and complications. Due to the broad nature of this subject only three main issues form the focal point of this study: problems concerning the banking industry and other financial organizations, problems resulting from the limitations of law enforcement agencies, and problems arising from the lack of cooperation between and within financial institutions and law enforcement agencies. Several probable solutions to the above problems are identified: Considering the financial industry, there are loopholes in the Bank Secrecy Act (BSA) and in other regulations that apply to the industry. Thus, there is a comparison of the Subjective Model vs. Objective Model in terms of reporting systems for financial organizations. On the law enforcement side, the priority is the need to update and upgrade their technology and investigation mechanisms in order not to fall behind the criminals. Finally, cooperation is something that can be achieved through mutual respect and understanding of the priorities of each side, which can be achieved by the creation of an upper agency of whose members represent both sides of the combat efforts.

Doctor Legum - LLD / This thesis investigates the legislative measures employed in South Africa to combat the implication of lawyers in money laundering schemes. Criminals make use of sophisticated technological means to transfer money and launderers routinely approach lawyers to assist them in their illegal endeavours. The legal profession is almost tailor-made for abuse by launderers, because lawyers work with huge amounts of money, clients are entitled to legal professional privilege and the right to legal representation is guaranteed constitutionally. The South African anti-money laundering regime, for the most part, is contained in two statutes, the Financial Intelligence Centre Act (FICA) and the Prevention of Organised Crime Act (POCA). Whilst FICA and POCA require the legal profession to be vigilant and accountable in the fight against money laundering, unfortunately they also infringe on hard-won rights, such as legal professional privilege, the right to legal representation and attorney-client confidentiality. The study considers South Africa’s efforts to fulfil its international anti-money laundering obligations whilst upholding the criminal procedural rights guaranteed in the Constitution. It is suggested that certain sections of FICA and POCA fail to find the required balance between protecting citizens from the harms of money laundering and protecting the fundamental rights of attorneys and their clients. Lawyers are in a unique position of trust and in some instances have access to information that may incriminate their clients. Unfortunately, in its quest to combat money laundering, Parliament did not consider seriously enough the position of lawyers and took the easy option of criminalising fees paid with tainted funds, as well as the non-submission of suspicious transaction reports (STRs) and cash transaction reports (CTRs). As a result, the South African legal profession is saddled with unacceptable constraints.

本文從台灣洗錢防制法第18條第2項條文規定出發，探討擴大利得沒收之概念、性質及其適用要件。釐清目前各國就某「高度懷疑來源自不法」的財產所具有的不同處理方式，大致可區分為兩種：以德國法為例的擴大利得沒收及以英美法為例的非以定罪為基礎之沒收。通過了解德國新舊刑法中關於擴大利得沒收的規定及變化，嘗試回答台灣法中的擴大利得沒收制度究竟應該如何理解，有何修正空間。其中，就台灣擴大利得沒收條文中所設置的「常習性」、「集團性」兩大限定要件進行了具體分析，明確其意涵。最後，對擴大利得沒收遭受的相關疑義進行了回應，肯定其作為沒收類型之一而具有一般性，應當納入刑法典。 / This research starts from the article 18(2) of the Money Laundering Control Act, trying to discuss the concept, the nature and the usage of the extended confiscation. Basically, there are two different ways to deal with the property which are under highly suspicion that it is derived from criminal conduct. One is the extended confiscation represented by German law, and the other one is the non-conviction-based confiscation represented by the U.S law. Taiwan uses the same way as German, thus the research focusing on the comparison between German law and Taiwanese law, trying to find out the suggestion for revision.

The opening of a bank account serves as the genesis of a bank customer relationship. It is imperative that the establishment of a bank customer relationship be regulated by law. Both the common law and statutory law regulate the admission of new clients to the realm of banking. It is a minimum requirement, in terms of both statutory and common law, that the identity of a prospective client who wishes to open a bank account must both be established and verified. This, the need to know one’s customer, is not only good law but common sense and an effective measure to prevent criminals from accessing the banking system. Parties who work together must know each other. The need to establish and verify the identity of a potential customer is commonly referred to as the Know Your Customer standards, alternatively the Customer Due Diligence framework. The Know Your Customer standards are neither unique to South Africa nor have their origins in South Africa. The Know Your Customer standards are international standards which the Financial Action Task Force and the Basel Committee on Banking Supervision have been advocating for quite some time. A confluence of the Recommendations of the Financial Action Task Force and the Basel Committee on Banking Supervision greatly influenced the birth of the Financial Intelligence Centre Act in South Africa. The Financial Intelligence Centre Act 38 of 2001 prescribes the steps that a bank has to take in order to establish and verify the identity of a potential client. It will be shown in this dissertation that the identification and verification regime established by the Financial Intelligence Centre Act 38 0f 2001 and the common law are not fool proof. This dissertation makes recommendations on how the current loopholes that exist in the law can be addressed. / Mercantile Law / LLM

The opening of a bank account serves as the genesis of a bank customer relationship. It is imperative that the establishment of a bank customer relationship be regulated by law. Both the common law and statutory law regulate the admission of new clients to the realm of banking. It is a minimum requirement, in terms of both statutory and common law, that the identity of a prospective client who wishes to open a bank account must both be established and verified. This, the need to know one’s customer, is not only good law but common sense and an effective measure to prevent criminals from accessing the banking system. Parties who work together must know each other. The need to establish and verify the identity of a potential customer is commonly referred to as the Know Your Customer standards, alternatively the Customer Due Diligence framework. The Know Your Customer standards are neither unique to South Africa nor have their origins in South Africa. The Know Your Customer standards are international standards which the Financial Action Task Force and the Basel Committee on Banking Supervision have been advocating for quite some time. A confluence of the Recommendations of the Financial Action Task Force and the Basel Committee on Banking Supervision greatly influenced the birth of the Financial Intelligence Centre Act in South Africa. The Financial Intelligence Centre Act 38 of 2001 prescribes the steps that a bank has to take in order to establish and verify the identity of a potential client. It will be shown in this dissertation that the identification and verification regime established by the Financial Intelligence Centre Act 38 0f 2001 and the common law are not fool proof. This dissertation makes recommendations on how the current loopholes that exist in the law can be addressed. / Mercantile Law / LLM