Intensification of the anti-money laundering (AML) regulation
and its negative impacts on payments industry

D 2021

Intensification of the anti-money laundering (AML) regulation and its negative impacts on payments industry

BOČÁNEK, Marek

Basic information

Original name

Intensification of the anti-money laundering (AML) regulation and its negative impacts on payments industry

Name in Czech

Intensifikace předpisů proti praní špinavých peněz a její negativní dopad na oblasti platebního styku

Authors

BOČÁNEK, Marek (703 Slovakia, guarantor, belonging to the institution)

Edition

1. vyd. Rumunsko, Banking Law in the 21st Century, p. 145-161, 17 pp. 2021

Publisher

AdJuris – International Academic Publisher

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50501 Law

Country of publisher

Romania

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

electronic version available online

References:

Open access sborníku

RIV identification code

RIV/00216224:14220/21:00124953

Organization unit

Faculty of Law

ISBN

978-606-94978-8-3

UT WoS

000783959600010

Keywords (in Czech)

Praní špinavých peněz; compliance; AML/CFT; FATF; 5. AML směrnice

Keywords in English

Money-laundering; compliance; AML/CFT; FATF; 5th AML Directive

Abstract

V originále

New regulatory approaches in relation to money laundering have come with sig- nificant changes to the payment environment and affected entities within the industry markedly. Albeit this approach found justification and was enriched by terrorism financ- ing regulations since 2001, such extraordinary pressure placed on banks has now re- sulted in a highly conservative stance taken by credit institutions towards their existing or new clients, namely due to their stringent risk-based approach. The objective of this article is to point toward the options of banks working together with clients rated as high- risk, instead of discriminating against them. Methods applied in this article will consist of analysis and synthesis or comparison of information obtained with subsequent deduc- tion. The result of this study is the demonstration of options that may be applied instead of purely sanction-like approach. Thus, a more motivating system for businesses or cer- tain industries may be formed, supporting the development thereof.

Citovat

BOČÁNEK, Marek. Intensification of the anti-money laundering (AML) regulation and its negative impacts on payments industry. Online. In Ianfred Silberstein, Thierry Bonneau, Cristina Elena Popa Tache, Lucía Piazza Dobarganes, Katharina Muscheler, Christopher Hunt (eds.). Banking Law in the 21st Century. 1st ed. Rumunsko: AdJuris – International Academic Publisher, 2021, p. 145-161. ISBN 978-606-94978-8-3.

@inproceedings{1784038,
   author = {Bočánek, Marek},
   address = {Rumunsko},
   booktitle = {Banking Law in the 21st Century},
   edition = {1},
   editor = {Ianfred Silberstein, Thierry Bonneau, Cristina Elena Popa Tache, Lucía Piazza Dobarganes, Katharina Muscheler, Christopher Hunt (eds.)},
   keywords = {Money-laundering; compliance; AML/CFT; FATF; 5th AML Directive},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Rumunsko},
   isbn = {978-606-94978-8-3},
   pages = {145-161},
   publisher = {AdJuris – International Academic Publisher},
   title = {Intensification of the anti-money laundering (AML) regulation and its negative impacts on payments industry},
   url = {http://www.adjuris.ro/reviste/bl21/Banking%20Law%20in%20the%2021st%20Century.pdf},
   year = {2021}
}

TY  - JOUR
ID  - 1784038
AU  - Bočánek, Marek
PY  - 2021
TI  - Intensification of the anti-money laundering (AML) regulation and its negative impacts on payments industry
PB  - AdJuris – International Academic Publisher
CY  - Rumunsko
SN  - 9786069497883
KW  - Money-laundering
KW  - compliance
KW  - AML/CFT
KW  - FATF
KW  - 5th AML Directive
UR  - http://www.adjuris.ro/reviste/bl21/Banking%20Law%20in%20the%2021st%20Century.pdf
N2  - New regulatory approaches in relation to money laundering have come with sig- nificant changes to the payment environment and affected entities within the industry markedly. Albeit this approach found justification and was enriched by terrorism financ- ing regulations since 2001, such extraordinary pressure placed on banks has now re- sulted in a highly conservative stance taken by credit institutions towards their existing or new clients, namely due to their stringent risk-based approach. The objective of this article is to point toward the options of banks working together with clients rated as high- risk, instead of discriminating against them. Methods applied in this article will consist of analysis and synthesis or comparison of information obtained with subsequent deduc- tion. The result of this study is the demonstration of options that may be applied instead of purely sanction-like approach. Thus, a more motivating system for businesses or cer- tain industries may be formed, supporting the development thereof.
ER  -

BOČÁNEK, Marek. Intensification of the anti-money laundering (AML) regulation and its negative impacts on payments industry. Online. In Ianfred Silberstein, Thierry Bonneau, Cristina Elena Popa Tache, Lucía Piazza Dobarganes, Katharina Muscheler, Christopher Hunt (eds.). \textit{Banking Law in the 21st Century}. 1st ed. Rumunsko: AdJuris – International Academic Publisher, 2021, p.~145-161. ISBN~978-606-94978-8-3.

Detailed Information on Publication Record