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New OSCE Recommendations to Combat Corruption, Money Laundering, and the Financing of Terrorism

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  • Stuart S. Yeh

    (Department of Organizational Leadership, Policy, and Development, University of Minnesota, Minneapolis, MN 55455, USA)

Abstract

A model Anticorruption Protocol to the United Nations Convention against Corruption (APUNCAC) would implement international requirements to report the beneficial ownership of funds involved in certain financial transactions. The purpose is to discourage the laundering of illicit funds by attaching legal consequences to each failure to obtain and submit a required report of beneficial ownership, and each failure by a front man who poses as a beneficial owner to supply true information regarding the identity of the actual beneficial owner. This article is the fifth in a series of articles describing APUNCAC’s anti-money-laundering (AML) provisions and focus on beneficial owner transparency. The companion articles focus on issues regarding international jurisdiction and enforcement of APUNCAC regarding distant offshore personnel, illustrate the application of APUNCAC to specific money laundering channels, answer frequently asked questions (FAQ), and translate APUNCAC’s key provisions into proposed Financial Action Task Force (FATF) recommendations. This article explains how APUNCAC’s key provisions may be translated into Organization for Security and Co-operation in Europe (OSCE) recommendations, why the OSCE may be especially inclined to adopt the recommendations, and why support of this initiative might be the most promising path that could be adopted by the international community to combat corruption, money laundering, and the violations of human rights that are associated with these crimes.

Suggested Citation

  • Stuart S. Yeh, 2022. "New OSCE Recommendations to Combat Corruption, Money Laundering, and the Financing of Terrorism," Laws, MDPI, vol. 11(2), pages 1-23, March.
    • Handle: RePEc:gam:jlawss:v:11:y:2022:i:2:p:23-:d:768888
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    References listed on IDEAS

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    1. Verónica Michel, 2021. "Institutional Design, Prosecutorial Independence, and Accountability: Lessons from the International Commission against Impunity in Guatemala (CICIG)," Laws, MDPI, vol. 10(3), pages 1-13, July.
    2. Mikkel Jarle Christensen, 2021. "Legal Mobilization and the Internationalization of Anticorruption Enforcement," Laws, MDPI, vol. 10(4), pages 1-17, November.
    3. Marie J. dela Rama & Michael E. Lester & Warren Staples, 2022. "The Challenges of Political Corruption in Australia, the Proposed Commonwealth Integrity Commission Bill (2020) and the Application of the APUNCAC," Laws, MDPI, vol. 11(1), pages 1-27, January.
    4. Danny Singh, 2021. "Anticorruption, Cultural Norms, and Implications for the APUNCAC," Laws, MDPI, vol. 10(2), pages 1-17, April.
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