2.3. Definition of money laundering in the narrow sense
These categories must be incorporated into domestic law (by Palermo convention, Art. 6).The Palermo convention definition is an expansion of Vienna Convention definition which scope is limited to drug-trafficking offences.
(
Knowing that such property is proceeds of crime
a) (i)
Conversion of
Concealing
Property
Purpose
The illicit origin of property
Transfer of
Disguising
Helping any person who is involved in the commission of the predicate offence to evade the legal consequences of his action
The conversion or transfer of property, knowing that such property is the proceeds of crime, for the purpose of concealing or disguising the illicit origin of the property or of helping any person who is involved in the commission of the predicate offence to evade the legal consequences of his or her action.
(a) (ii)
Concealment
Knowing that such property is proceeds of crime
Nature
Source
Location
True
With respect to
Disposition
Movement
Ownership of rights
Disguise
Property
The concealment or disguise of the true nature, source, location, disposition, movement or ownership of or rights with respect to property, knowing that such property is the proceeds of crime.
2.4. Definition of money laundering in the broad sense
These categories are not mandatory and subject to each country’s “constitutional principles and basic concepts of its legal system” (by Palermo convention, Art. 6).
(b) (i)
Acquisition of
Knowing that such property is proceeds of crime
At the time of receipt
Possession of
Property
Use of
The acquisition, possession or use of property, knowing, at the time of receipt, that such property is the proceeds of crime.
(b) (ii)
Participation in
Association with
Conspiracy to commit
The commission of money laundering
Attempts to commit
Aiding
Abetting
Facilitating
Counseling
Participation in, association with or conspiracy to commit, attempts to commit and aiding, abetting, facilitating and counseling the commission of any of the offences established in accordance with this article (Art. 6).
2.5. Anti-money laundering measures of combating organized crime
Disbursement of a considerable sum of money per person
Money laundering
Looks like income from a legitimate business
Organizing, directing, abetting, etc. the commission of a predicate offence
Superiors
Organized criminal group
Various hierarchy levels
Commission of a predicate offence for a purpose of a financial benefit
Proceeds from crime
Executives
A modest remuneration of an executive
Possession and personal use of insignificant sum of ill-gotten money
Involves ML in the narrow and broad sense
Money laundering can be
the only conviction
Organizing, directing, abetting, etc. the commission of a predicate offence
Superiors
It is difficult to get a conviction on these offences
ML in the broad sense
What is the need of prosecuting the money launderer?
Commission of a predicate offence for a purpose of a financial benefit
Executives
It is easy to get a conviction on these offences