Search results for "money laundering"

Combining Benford's Law and machine learning to detect money laundering. An actual Spanish court case.

2017

Abstract Objectives This paper is based on the analysis of the database of operations from a macro-case on money laundering orchestrated between a core company and a group of its suppliers, 26 of which had already been identified by the police as fraudulent companies. In the face of a well-founded suspicion that more companies have perpetrated criminal acts and in order to make better use of what are very limited police resources, we aim to construct a tool to detect money laundering criminals. Methods We combine Benford’s Law and machine learning algorithms (logistic regression, decision trees, neural networks, and random forests) to find patterns of money laundering criminals in the conte…

Exploring the “Cozy Cabal of Academics, Dealers and Collectors” through the Schøyen Collection

2020

In the wake of the trade in ancient materials, several ethical and political issues arise that merit concern: The decimation of the cultural heritage of war-torn countries, proliferation of corruption, ideological connotations of orientalism, financial support of terrorism, and participation in networks involved in money laundering, weapon sales, human trafficking and drugs. Moreover, trafficking and trading also have a harmful effect on the fabric of academia itself. This study uses open sources to track the history of the private Sch&oslash

Bitcoin e cyber self-laundering: lo sguardo sospettoso della Cassazione sull'impiego di criptovaluta

2023

In Judgment n. 27023 of 2022, the italian Supreme Court recognized the confgurability of the crime of self-money laundering in the conduct of a person who uses the proceeds of crimes committed by him to purchase bitcoin, not directly, but through the intermediation of cryptocurrency exchange companies. The Author takes the pronouncement as a starting point to probe the extent to which the culture of suspicion, with which the anti-money laundering legislation is imbued, and the stigmatization of cryptocurrency have influenced the Supreme Court's guidance, in which there emerges a strong temptation to establish a kind of automatism between the input of illicit proceeds into the bitcoin system…

The Paradox of Effectiveness: Growth, Institutionalisation and Evaluation of Anti-Mafia Policies in Italy

2004

This contribution focuses on Italian policies that have been envisaged and implemented to combat, prevent or contain mafia-type organised crime.1 After having shown that a proper analysis of anti-mafia policies is strangely lacking (section 2), policies directly addressing the mafia are dealt with, hinting at the norms concerning specific criminal offences, vast investigatory powers and penetrating preventive measures, financial transactions and money laundering, collaborators of justice, the peculiarity of mafia trials, judicial attitudes and sanctions (section 3.1). Section 3.2 presents the wide variety of other policies addressing civil society and public administrations, and only indire…

L’armonizzazione europea nella lotta al riciclaggio: un’indagine sullo spazio riservato ai diritti e ai principi del diritto penale

2019

Virtual Currency: New Step in Monetary Development

2016

Abstract Money is perhaps the best recognized and at the same time less understood figure of economy. During the evolution of a monetary science starting from the eighteenth century and fundamental works on such questions as true nature and main functions of money, the approach and theories about monetary science have changed significantly up to date not reaching the final state. The twenty-first century can be characterized with a vast development of technologies and the increase use of the internet which significantly succeeded the development of monetary system introducing a new phenomenon - virtual currencies. While remaining rather illusive, virtual currencies have been broadly noted b…

Analysis of the evolution of the EU regulatory approach on virtual assets

2022

The technological advancements of virtual assets are growing exponentially in numbers now providing better security and enhanced privacy for its users. Furthermore, users may scramble and tumble virtual assets disguising their records of transactions. Innovations such as these although allow users to enjoy enhanced privacy in a world of constant supervision and “liberalization” of currency from the state, has however also opened a milieu for criminals to operate in, allowing money laundering, terrorism financing, tax and sanctions evasion, and other financial crimes to go unnoticed. In that regard, this thesis focuses on how the European Union has managed to catch up with the continuous inn…

Protection of trafficked people in Italy: policies, limits and challenges

2015

Purpose– The purpose of the article is to analyse the Italian anti-trafficking system by examining its effectiveness in the protection of trafficked people.Design/methodology/approach– The article examines the protection of trafficked people in Italy, focusing in particular on the implementation of Article 18 of the “Consolidated Act of Measures Governing Immigration and Norms on the Condition of Foreign Citizens” (Legislative Decree n. 286/1998), which provides victims with protection and a residence permit independent of their cooperation with the competent authorities in criminal proceedings against offenders.Findings– The article demonstrates that, though the Italian legal framework on …

Estonian e-Residency: a model for Europe

2020

This paper aims to examine one of the main implications of freedom of establishment: since it is possible to transfer a company abroad effortlessly, in fact, governments are adopting various strategies to make themselves more attractive. These are based on two main directives: first, a convenient tax system, as in Malta, on the other side technology, as proposed in Estonia. These countries’ strategy is radically different: Malta offers an extremely profitable tax system, while Estonia, on the other side, is the only nation in Europe where the optimal use of technology and its potential allows the consolidation and implementation of a totally digital system, whose advantages outweigh those o…

Comparative analysis of Latvian and Estonian AML requirements in regards to the virtual currency exchange service providers – theory and practice

2020

Money laundering is considered as one of the most significant types of financial crime. Its magnitude has only increased in the past decade alongside with the development in the technological field. Since the regulatory framework seeks to mitigate threats posed by existing financial instruments, persons willing to initiate these actions still find new ways to proceed with illicit activities. In that regard, this thesis focuses on comprehending regulatory scope and requirements governing virtual currency exchange service providers at the high level (European Union), while further analysis emphasises their implementation in Estonian and Latvian regulatory framework. By comprehending minimum r…