Open AccessCRIMINAL RESPONSIBILITY FOR ILLEGAL MONEY LAUNDERING UNDER FRENCH LEGISLATION
Author(s) -
Андрей Меньших,
Andrey Men'shikh
Publication year - 2015
Publication title -
žurnal zarubežnogo zakonodatelʹstva i sravnitelʹnogo pravovedeniâ
Language(s) - English
Resource type - Journals
eISSN - 2587-9995
pISSN - 1991-3222
DOI - 10.12737/14316
Subject(s) - money laundering , legislation , obligation , statute , business , subject (documents) , control (management) , economic crime , law , political science , accounting , finance , economics , management , library science , computer science
This article is dedicated to problems of criminal responsibility for money laundering under the French legislation. The author studies the French statutes on the matter and defines the actions treated as money laundering. The author notes that financial institutions’ employees are subject to more severe penalties. The author explores the development stages of the French financial system, which is historically divided into five stages. Since money laundering has become an international crime, the author refers to some examples of France’s international cooperation, as well as mentions both international and national bodies that deal with anti-money laundering. Financial bodies are under obligation to collect data on clients and sources of their funds, control clients’ operations which enables them to detect suspicious behavior.