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@inproceedings{34133,
author = {Drličková, Klára},
address = {Varazdin},
booktitle = {Economic and Social Development (Book of Proceedings), 31st International Scientific Conference on Economic and Social Development - “Legal Challenges of Modern World”},
keywords = {international commercial arbitration; money laundering; criminal laws; arbitrator; criminal liability; intention; negligence; investigation; notification; witness; EU directive},
howpublished = {elektronická verze "online"},
language = {eng},
location = {Varazdin},
pages = {227-234},
publisher = {Varazdin Development and Entrepreneurship Agency},
title = {Money Laundering in International Commercial Arbitration},
url = {http://www.esd-conference.com/past-conferences},
year = {2018}
}
TY - JOUR
ID - 34133
AU - Drličková, Klára
PY - 2018
TI - Money Laundering in International Commercial Arbitration
PB - Varazdin Development and Entrepreneurship Agency
CY - Varazdin
KW - international commercial arbitration
KW - money laundering
KW - criminal laws
KW - arbitrator
KW - criminal liability
KW - intention
KW - negligence
KW - investigation
KW - notification
KW - witness
KW - EU directive
UR - http://www.esd-conference.com/past-conferences
N2 - International commercial arbitration is currently the preferred method of resolution of disputes originating from international business transactions. It is not only the number, but also the diversity and complexity of disputes that have been growing. At present, arbitrators also deal with criminal offences that may have serious impact on society and economy, e.g. corruption, fraud and last but not least money laundering. It is not disputed that decisions on criminal sanctions remain exclusively in the hands of national courts. However, this does not mean that the arbitrators are precluded from applying criminal laws. The occurrence of money laundering within the international commercial arbitration is a complex issue raising a lot of questions, e.g. arbitrability of such disputes, validity of arbitration agreement, applicable criminal law, evidence, duties of arbitrators, review of arbitral awards etc. As it is not possible to deal with all these question this paper focuses only on several aspects. Two possible situations in which money laundering can manifest in international commercial arbitration are identified. First, money laundering can be alleged by a party as defence to the enforcement of a contract in dispute. Second, arbitration can be abused for laundering of illicit assets. The paper further deals with the arbitrators’ legal obligations under criminal and regulatory law in the face of suspected or alleged money laundering. In this part the paper focuses especially on the second scenario, e.g. when arbitration is abused for money laundering. The paper analyses if the arbitrators are covered by criminal law provision on money laundering and on notification duties. The paper also analyses if the arbitrators fall within the scope of regulatory system imposing identification and reporting duties. In this part the paper reflects especially relevant provisions of Czech and EU law.
ER -
DRLIČKOVÁ, Klára. Money Laundering in International Commercial Arbitration. Online. In \textit{Economic and Social Development (Book of Proceedings), 31st International Scientific Conference on Economic and Social Development - “Legal Challenges of Modern World”}. Varazdin: Varazdin Development and Entrepreneurship Agency, 2018, p.~227-234. ISSN~1849-7535.
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