Mobile Money Payments as Vehicles for Money Laundering: A Case Study of Malawi
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Date
2016
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Publisher
University of the Western Cape
Abstract
Money laundering is defined as the process of converting the proceeds derived from a wide
range of underlying criminal offences, called predicate offences, to apparently legitimate
property. In other words, it is the process of washing away the stain of illegality from the
proceeds of crime in order to give them the appearance of legality. In fact, the
nomenclature of the practice itself was inspired by America�s notorious gangster Al
Capone�s practice of channelling the proceeds of his criminal enterprise through his
laundromats in order to cloak their illegality so as to endow them with an appearance of
legality. The crime of money laundering has been a scourge on the economies of the
world, hence it has become a crime of international concern. The international community
has developed numerous international treaty norms obligating states to criminalise money
laundering. These norms, when incorporated into national legislation, are expected to serve
as the legal basis not only for national prosecution of money laundering offences but also
for international mutual legal assistance in AML (for example, international co-operation in
the confiscation of criminal proceeds and extradition of money launderers).
Description
Magister Legum - LLM (Criminal Justice and Procedure)