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dc.contributor.authorCelik, Muhammet Emir
dc.date.accessioned2022-07-04T12:46:31Z
dc.date.available2022-07-04T12:46:31Z
dc.identifier.citationCelik M. E. , "Regulated sector professionals and reporting suspicion of money laundering: is it a disproportionate burden?", JOURNAL OF MONEY LAUNDERING CONTROL, 2022
dc.identifier.issn1758-7808
dc.identifier.othervv_1032021
dc.identifier.otherav_2b848823-e6f8-4665-9cab-ee2ddc054c0b
dc.identifier.urihttp://hdl.handle.net/20.500.12627/182084
dc.identifier.urihttps://doi.org/10.1108/jmlc-01-2022-0018
dc.identifier.urihttps://avesis.istanbul.edu.tr/api/publication/2b848823-e6f8-4665-9cab-ee2ddc054c0b/file
dc.description.abstractPurpose The purpose of the research paper is to determine the efficiency of all crimes approach, their relationship with a risk-based approach and the consequences on regulated sector professionals. And, therefore, what is meant by suspicion, how employees follow the requirements and how it affects the quality and quantity of suspicious activity reports. It also considers the economic and legal challenges the regulated sector faces while dealing with customers or clients. All in all, this paper investigates what does the anti-money laundering (AML) regime means for legal practice and how lawyers' responsibility is affected. Design/methodology/approach As the research is being conducted through the analytical methodology, the specific topic of "regulated sector professionals and reporting suspicion of money laundering" is analyzed. It evaluates the fact that the risk-based approach followed in Financial Action Task Force (FATF) recommendations and its adaptation in the UK with all crimes approach caused discrepancy in the judicial system and influenced regulated sector professionals negatively. Findings The paper points out that in spite of protective amendments in terms of jurisdictional immunity, UK legislation has caused problems for regulated sector professionals, such as the potential of breaching a client confidentiality agreement and avoiding tipping-off, thus remaining under pressure by clients and facing the risk of losing their clients or obligation to record suspicions in case of court investigation. Originality/value The question of money laundering and the FATF recommendations has had a considerable scholarship. However, the proposed study intends to precisely look at the efficiency of all crime approaches, their relationship with a risk-based approach and the consequences on regulated sector professionals. The proposed research will further determine the regulated sector's economic and legal challenges while dealing with customers or clients. Unlike the existing scholarship, the proposed thesis will focus on what the AML regime means for legal practice and how lawyers' responsibility is affected.
dc.language.isoeng
dc.subjectGeneral Social Sciences
dc.subjectSocial Sciences & Humanities
dc.subjectSosyoloji
dc.subjectSosyal ve Beşeri Bilimler
dc.subjectSosyal Bilimler (SOC)
dc.subjectSosyal Bilimler Genel
dc.subjectCRIMINOLOGY & PENOLOGY
dc.subjectGüvenlik Bilimleri
dc.titleRegulated sector professionals and reporting suspicion of money laundering: is it a disproportionate burden?
dc.typeMakale
dc.relation.journalJOURNAL OF MONEY LAUNDERING CONTROL
dc.contributor.departmentİstanbul Teknik Üniversitesi , ,
dc.contributor.firstauthorID3403089


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