Emmanuel - Scottish Institute for Policing Research

Emmanuel - Scottish Institute for Policing Research

Framing Organised Crime in Nigeria: Rational Choice Theory and Anti-Money Laundering Framework Scottish Institute for Policing Research Police Scotland Postgraduate Symposium 30th June, 2015 Emmanuel Sotande PhD Candidate School of Law, University of Leeds INTRODUCTION Crime opportunities in the global South (Nigeria) and global North (the United Kingdom and the European States), lack of good governance and rule of law in the global South (Nigeria),

define the rational choices of Nigerian transnational organised criminal (TOC) groups. Business opportunities decision modelling: the Nigerian Organised Crime Offenders Value Proceeds of crime must be valuable Access Illicit markets & commodities, Targets Technological access Transaction Conduction of the business Movement of the ill-gotten profit ANTI-MONEY LAUNDERING (AML) FRAMEWORK The FATF 40 recommendations constitute the framework that countries

should implement to increase the risk of committing organised crime and money laundering within the global communities, West Africa and Nigeria in particular. The components of the AML framework include (FATF, 2013:7): The global jurisdictions are compelled: to identify the risk, and develop policies and domestic coordination; to pursue money laundering and other related serious crime; to apply preventive measures for the financial sector and other designated sectors; to establish power and responsibilities for the competent authorities (e.g., investigative, law enforcement and supervisory authorities) and other institutional measures; and to facilitate international cooperation. CRITICS OF ANTI-MONEY LAUNDERING CONTEXT

Halliday, Levi & Reuter (2014) posit the following critics: The countries were compelled to adopt the same recommendations and standards and were not given opportunity to proffer their own creative alternatives within their own circumstances, The failure on the part of standard setters to attempt and conduct costs and/or benefits analysis of the anti-money laundering (AML) regime on countries and reporting entities where these regimes were domesticated is fundamental criticism. The focus of the standard setters is mainly on formal compliance and implementation of recommendations and standards. Little attention was given to programme and outcome effectiveness; Absent of appropriate scientific alternative approach for producing

effective programmes and outcomes within the global anti-money laundering regimes. AML TRANSACTION VALIDATION MODEL CONTD AML Transaction Validation Model: A scientific approach to enhance programmes and outcomes effectiveness of the regimes of AML in developing countries. Transaction Validation Schema Core Banking Application Server System Generated Validation Code Customer Identification Application Machine Transaction Authentication Channel CONCLUSION: BENEFITS OF AML TRANSACTION VALIDATION MODEL It will provide the mechanism to follow the money trail of the

organised crime offenders. The AML Transaction Model will be able to minimise the problem of identity theft within the banking sector, since unique validation codes have to be giving to the account holders before any transaction can be authenticated. It provides alternate way of identify customers of reporting institutions in developing countries where unique identification for citizen is not robust. It enhances financial inclusion and social justice. Thank you.

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