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Anti-Money LaunderingEmpirical Investigation in Relation to the AMLSCU

Anti-Money Laundering: Empirical Investigation in Relation to the AMLSCU [As mentioned at the end of the previous chapter, there are insufficient data and information available about the functions of the AMLSCU to fight ML and to deal with STRs in particular. This information is important for removing any ambiguities and vagueness and to analyse critically the functions of the AMLSCU. No UAE case law exists to clarify or interpret the statutory responsibilities of the AMLSCU, the basis of STRs or even the role which compliance officers at reporting entities play within the STRs regime. Moreover, in order to analyse the negative consequences of the AMLSCU’s current functions, it is necessary to examine whether the current model is an ideal type, which enables it to carry on its functions to deal with STRs properly. For these reasons, in the present chapter I adopt an empirical approach which makes use of the qualitative method in order to analyse the outcomes highlighted in the previous chapter and to evaluate the functions and legal powers of the AMLSCU when dealing with STRs.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Anti-Money LaunderingEmpirical Investigation in Relation to the AMLSCU

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Publisher
Palgrave Macmillan UK
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016. The author(s) has/have asserted their right(s) to be identified as the author(s) of this work in accordance with the Copyright, Design and Patents Act.
ISBN
978-1-137-59454-9
Pages
171 –204
DOI
10.1057/978-1-137-59455-6_6
Publisher site
See Chapter on Publisher Site

Abstract

[As mentioned at the end of the previous chapter, there are insufficient data and information available about the functions of the AMLSCU to fight ML and to deal with STRs in particular. This information is important for removing any ambiguities and vagueness and to analyse critically the functions of the AMLSCU. No UAE case law exists to clarify or interpret the statutory responsibilities of the AMLSCU, the basis of STRs or even the role which compliance officers at reporting entities play within the STRs regime. Moreover, in order to analyse the negative consequences of the AMLSCU’s current functions, it is necessary to examine whether the current model is an ideal type, which enables it to carry on its functions to deal with STRs properly. For these reasons, in the present chapter I adopt an empirical approach which makes use of the qualitative method in order to analyse the outcomes highlighted in the previous chapter and to evaluate the functions and legal powers of the AMLSCU when dealing with STRs.]

Published: Jul 9, 2016

Keywords: Banking Sector; Public Prosecution; Previous Chapter; Legal Power; Reasonable Ground

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