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GOALS OF THE COURSE To provide the students with an overview of the EU’s legal framework and action in the fight against corruption and money laundering. To give them an insight into practical issues, i.e. the role of bankers in monitoring transactions, the liability of professionals involved in the fight against money laundering and the specific role played by lawyers.
Poslední úprava: Kubátová Hana, M.A., Ph.D. (24.09.2013)
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- European Banking Federation, EBF Position on the European Commission Proposal for a 4th Anti-Money Laundering Directive, 22 April 2013, http://www.ebf-fbe.eu/uploads/EBF001279-2013%20-%20EBF%20Position%20on%20the%20EC%20Proposal%20for%20a%204th%20EU%20AML%20Directive.pdf,p. 1 - European Commission, Proposal for a Regulation of the European Parliament and of the Council on information accompanying Transfers of Funds, COM (2013) 044 final, 5 February 2013. - FATF, International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation, the Recommendations, Paris, 15 February 2012, http://www.fatf-gafi.org/topics/fatfrecommendations/documents/internationalstandardsoncombatingmoneylaunderingandthefinancingofterrorismproliferation-thefatfrecommendations.html. - European Commission, Proposal for a Directive of the European Parliament and of the Council on the Prevention of the Use of the Financial System for the Purpose of Money Laundering and Terrorist Financing, COM 2013 (045) final, 5 February 2013. - ECJ, Grand Chamber, case C-305/05, Ordre des barreaux francophones et germanophones, Ordre français des avocats du barreau de Bruxelles, Ordre des barreaux flamands, Ordre néerlandais des avocats du barreau de Bruxelles v. Conseil des Ministres, 26 June 2007. - ECtHR, case n° 12323/11, Michaud vs. France, 6th December 2012 - European Commission, 17 March 2011, Amended proposal for a Regulation of the European Parliament and the Council amending Regulation (EC) N° 1073/1999 concerning investigations conducted by the European Anti-fraud Office (OLAF) and repealing Regulation (EURATOM) N° 1074/1999, COM (2011) 135 final. - European Commission, 26 May 2011, Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions on the Protection of the Financial Interests of the European Union -An integrated Policy to safeguard Taxpayers’ Money-, COM (2011) 293 final. - European Commission, 6 June 2011, Communication from the Commission to the European Parliament, the Council and the European Economic and Social Committee, Fighting Corruption in the EU, COM (2011) 308 final. - European Commission, 24 May 2011, Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee, and the Committee of the Regions and the Court of Auditors on the Commission anti-fraud Strategy, COM (2011) 376 final. - William. C. Giltmore, Dirty money: The Evolution of International Measures to Counter Money Laundering and the Financing of Terrorism, 4th ed., Council of Europea Publishing Editions. - Collin Nichols, Q.C., Tim Daniel, Alan Bacarese and John Hatchard, Corruption and Misuse of Public Office, Oxford 2011. Poslední úprava: Kubátová Hana, M.A., Ph.D. (24.09.2013)
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This is a graduate course that will end with an in-class test. CONTENTS The role of the FATF in organizing the fight against money laundering at the international level is quickly described. The course then focuses on EU law. The mechanism set up by directive 2005/60 is analyzed. It relies on professionals to monitor financial transactions and file suspicious activities reports when such transactions can be part of money laundering. In the wake of the new FATF recommendations, the Commission has issued a new directive proposal on February, 5th 2013.The reform process is then dealt with. The directive establishes a risk-based approach under which professionals have to assess the level of risk of money laundering. It provides for three different levels of risk which require a low level of customer due diligence, enhanced customer due diligence and the case of PEPs (Politically Exposed Persons). The course then deals with the fight against corruption. The shortcomings of the fight against corruption are explained. Its efficiency is hampered by the lack of coordination between OLAF (the European Commission’s anti-fraud office) and national prosecuting authorities. Once OLAF has transmitted its report to national authorities, it is entirely up to them to decide whether to prosecute or not. The compliance of OLAF’s investigations with procedural rights is also at stake. Reform paths are then analyzed. The efficiency of the EU’s anti-corruption mechanism could be improved thanks to better coordination between member states and European bodies such as Eurojust, Europol and, of course, OLAF. National prosecuting authorities would have to inform OLAF of the follow-up of its reports. The role of OLAF’s supervisory committee could be enhanced. The creation of an EPPO (European Public Prosecutor’s Office) could be a major step forward allowing to effectively carry out EU-wide investigations and prosecutions. Poslední úprava: Kubátová Hana, M.A., Ph.D. (24.09.2013)
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