Compliance issues in arbitration proceedings – bribery, money laundering and other abuses
ISSN: 1359-0790
Article publication date: 31 January 2023
Issue publication date: 29 April 2024
Abstract
Purpose
The purpose of this study is to provide a firsthand perspective on the challenges and risks that can arise in arbitration proceedings.
Design/methodology/approach
To investigate the concrete methods money launderers use, a qualitative study was conducted with 10 alleged money launderers and 18 prevention experts. The results were then tested quantitatively, and it was concluded that among money launderers, the highly regulated financial sector is less popular than other sectors.
Findings
Money launderers relocate to unregulated sectors or offshore banks to avoid being questioned by compliance officers. Therefore, it is necessary for arbitrators involved in commercial or investor–state arbitration to have the expertise to readily identify the issues raised by these criminal law concepts and provide answers.
Originality/value
This paper examines the intersection between the areas of international commercial arbitration and money laundering, bribery, as well as embezzlement. At the same time, it draws attention to the need to analyze compliance issues in arbitration proceedings.
Keywords
Acknowledgements
Disclosure of potential conflicts of interest: The authors have no relevant financial or non-financial interests to disclose.
Citation
Teichmann, F., Boticiu, S.R. and Sergi, B.S. (2024), "Compliance issues in arbitration proceedings – bribery, money laundering and other abuses", Journal of Financial Crime, Vol. 31 No. 3, pp. 759-767. https://doi.org/10.1108/JFC-10-2022-0241
Publisher
:Emerald Publishing Limited
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