Sonja Cindori – Faculty of Law, University of Zagreb, Trg Republike Hrvatske 14, Zagreb, Croatia
DOI: https://doi.org/10.31410/ERAZ.2020.133
6th International Conference – ERAZ 2020 – KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, Online/virtual, May 21, 2020, CONFERENCE PROCEEDINGS
Published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
Conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia
ISSN 2683-5568, ISBN 978-86-80194-33-2, DOI: https://doi.org/10.31410/ERAZ.2020
Abstract
The variety of professions in a scope of non-financial sector offers the possibility to operate
as professional money launderers. As intermediaries, they can support money launderers in concealing
the true nature or source of illegally obtained proceeds. Their role in concealing the beneficial
ownership while hiding, collecting and moving illegally acquired property is becoming increasingly
attractive. The attractiveness of active or passive engagement depends on the ability to act within the
specificity of the profession, as well as their competencies in conducting transactions.
Key words
Money laundering, Beneficial owner, Independent professions, Risk, Advice.
References
[1] Council Directive 91/308/EEC of 10 June 1991 on prevention of the use of the financial
system for the purpose of money laundering (OJ L 166, 28.6.1991, p. 77–82).
[2] Directive 2001/97/EC of the European Parliament and of the Council amending Council
Directive 91/308/EEC on prevention of the use of the financial system for the purpose of
money laundering (OJ L 344/76, 4 December 2001).
[3] Directive 2005/60/EC of the European Parliament and of the Council of on the prevention
of the use of the financial system for the purpose of money laundering and terrorist financing
(OJ L 309/15, 26 October 2005).
[4] FATF Report 1990-1991
http://www.fatf-gafi.org/media/fatf/documents/reports/1990%201991%20ENG.pdf
[5] FATF Report 1993-1994
http://www.fatf-gafi.org/media/fatf/documents/reports/1993%201994%20ENG.pdf
[6] FATF Report 1995-1996
http://www.fatf-gafi.org/media/fatf/documents/reports/1995%201996%20ENG.pdf
[7] FATF Report 1996-1997
http://www.fatf-gafi.org/media/fatf/documents/reports/1996%201997%20ENG.pdf
[8] FATF Report 1997-1998
http://www.fatf-gafi.org/media/fatf/documents/reports/1997%201998%20ENG.pdf
[9] FATF Report 1998-1999
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[10] Gilmore, W., C., Dirty Money: The Evolution of International Measures to Counter Money
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[11] Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes
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[14] FATF, (2018), Concealment of Beneficial Ownership, Financial Action Task Force – Egmont
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[15] FATF, (2018), FATF Report: Professional Money Laundering, Financial Action Task Force,
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[16] Directive (EU) 2016/680 of the European Parliament and of the Council of 27 April 2016
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[17] Regulation 2016/679 of the European Parliament and of the Council on the protection of
natural persons with regard to the processing of personal data and on the free movement
of such data, and repealing Directive 95/46/EC (OJ L 119, 4.5.2016, p. 1–88).
[18] Directive 2017/1132 of the European parliament and of the Council relating to certain aspects
of company law (OJ L 169, 30.6.2017, p. 46–127).
[19] Cox, D. (2014), Handbook of Anti-Money Laundering, John Wiley & Sons Ltd, West Sussex,
p. 44.
[20] FATF, (2018), FATF Report: Professional Money Laundering, Financial Action Task Force,
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[21] FATF, (2013), FATF Report: Money Laundering and Terrorist Financing Vulnerabilities of
Legal Professionals, Financial Action Task Force, Paris, France, p. 84.
[22] FATF, (2010), FATF Report Global Money Laundering & Terrorist Financing Threat Assessment,
Financial Action Task Force, Paris, France, p. 46.
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