Implications of Anti-money Laundering Law for Accountancy in the European Union – A comparative study

Research output: Chapter in Book/Report/Conference proceedingChapter

3 Citations (Scopus)

Abstract

Examines the role of accountants in relation to anti-money laundering (AML) legislation in the European Union and provides a comparative study and literature review of AML legislative preventative measures. National legislation in these jurisdictions will be critiqued against the Third Money Laundering Directive requirements and Financial Action Task Force recommendations as well as the proposed fourth EU anti-money laundering legislation. The scope of the chapter includes, inter alia, the criminalisation of money laundering, recording and reporting obligations for accountants, and the enforcement and sanctions mechanisms within selected AML regimes. In order to enhance the effectiveness and efficiency of the AML within the EU, it is important for the government authorities to coordinate their efforts with the relevant accountancy regulatory bodies and provide a secure environment in which suspicious activities can be reported effectively. This chapter also comments on whether a well-established dialogue and coordination exist between accountancy regulatory bodies and law enforcement agencies.
Original languageEnglish
Title of host publicationFighting Financial Crime in the Global Economic Crisis
EditorsNicholas Ryder, Umut Turksen, Sabine Hassler
Place of PublicationAbingdon
PublisherRoutledge
ISBN (Electronic)9781315867663
ISBN (Print)9781138218895, 9780415706933
Publication statusPublished - 2015

Publication series

NameThe law of financial crime
PublisherRoutledge

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  • Activities

    • 1 Participation in conference

    The 35th Cambridge International Symposium on Economic Crime

    Lorenzo Pasculli (Convenor), Umut Turksen (Co-convenor), Anna Bradshaw (Invited Speaker)
    8 Sep 2017

    Activity: Participating in or organising an eventParticipation in conference

    Cite this

    Turksen, U. (2015). Implications of Anti-money Laundering Law for Accountancy in the European Union – A comparative study. In N. Ryder, U. Turksen, & S. Hassler (Eds.), Fighting Financial Crime in the Global Economic Crisis (The law of financial crime). Abingdon: Routledge.