My dissertation topic is following:
Are banks absolutely liable for manipulating laundered money in the mainstream of economy?
Requirements are following:
Deadline: 26th August
Send me a draft by 18 August.
Please note that I have some useful instructions from my supervisor that should included in that dissertation (Please find out those instructions in that email below).#
Moreover, it should be plagiarism free and tested by Turnitin.
Instructions from my supervisor are following:
Please read those carefully.
Copied From supervisor 1st email:
I have a couple of thoughts on your dissertation title:
It is not entirely clear from your title which -angle- you are taking. Are you arguing about the liability of banks in law (considering the effectiveness of legislation and potential reform) or the performance of banks in facilitating laundered monies (which will involve consideration of banks policies, the FCA response and the culpability of other institutions, for example businesses and law firms?
You dont suggest any geographical limit on banks. I would strongly recommend you limit discussion to UK banks, with perhaps a comparative study of an overseas jurisdiction.
One of the problems with Money Laundering is the limited information available. Whereas the NCA and other bodies estimate laundered funds to be in the billions, the amount subject to enforcement action or even SARs reporting is very small. You need to think about your starting point here.
The general area is very interesting and has the makings of a fine dissertation.
Copied from 2nd email:
As discussed, for money laundering I would start by reading the Practice Notes on Practical Law. You will need to understand both the offences and reporting regime under the Proceeds of Crime Act 2002 (sections 327 - 340) and the regulations under the Money Laundering, Terrorist Finance and Transfer of Funds (information on the Payer) Regulations 2017. The legislation is also available on legislation.gov.uk. Also consider the provisions of the Sanctions and Anti-money laundering Act 2018, which looks to the future post Brexit.
You must then consider the current reports on the effectiveness of tackling ML in England and Wales. National Risk Assessment is a good starting point https://www.gov.uk/government/publications/national-risk-assessment-of-money-laundering-and-terrorist-financing-2017 but also consider other practitioner and academic commentary on the topic, and the view of regulators, for example https://www.sra.org.uk/sra/news/press/risk-outlook-2018.page Also keep an eye on proposals for reform by the Sentencing Council https://www.sentencingcouncil.org.uk/offences/item/money-laundering/ the Law Commission https://www.lawcom.gov.uk/project/anti-money-laundering/ and the Financial Action Task Force (FATF) - http://www.fatf-gafi.org/
The next step is to consider the role of supervisory bodies in tackling ML in England & Wales. Your starting point is of course the OPBAS https://www.fca.org.uk/opbas but you should also look at what other regulators are doing, for example http://www.gamblingcommission.gov.uk/news-action-and-statistics/news/2018/32Red-to-pay-2m-penalty-package.aspx. Also look at what prosecutions agencies (SFO/CPS) are doing. https://www.cps.gov.uk/legal-guidance/proceeds-crime-act-2002-part-7-money-laundering-offences.
it is now important that you take the time to read the relevant research material and start writing your draft paper. Please do not hesitate to contact me should you have any concerns or queries. Kindly also acknowledge receipt of this email.
Please make sure send me the complete dissertation before the deadline. Otherwise I will fail completely.