IDEAS home Printed from https://ideas.repec.org/a/pal/jbkreg/v15y2014i1p75-86.html
   My bibliography  Save this article

To suspect or not to suspect: Analysing the pressure on banks to be ‘Policemen’

Author

Listed:
  • Gauri Sinha

Abstract

This article aims to analyse the practical challenges faced by banks while filing ‘Suspicious Activity Reports’ required under the Proceeds of Crime Act 2002. The difficulty is analysed both against the lacunae in the law as well as challenges in its implementation. The recent judgment of Shah v. HSBC has made a considerable attempt to highlight and address these challenges. However, the author believes that although the judgment has clarified the consent regime (which surfaces after a disclosure of suspicion has been made), the concept of ‘suspicion’ in itself is still vague and amorphous, proving to be a negative effect on banks to effectively identify the proceeds of crime. As a result, the fundamental issues regarding over-reporting of suspicion by banks to escape legal consequences still remain.

Suggested Citation

  • Gauri Sinha, 2014. "To suspect or not to suspect: Analysing the pressure on banks to be ‘Policemen’," Journal of Banking Regulation, Palgrave Macmillan, vol. 15(1), pages 75-86, January.
    • Handle: RePEc:pal:jbkreg:v:15:y:2014:i:1:p:75-86
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/jbr/journal/v15/n1/pdf/jbr201220a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: http://www.palgrave-journals.com/jbr/journal/v15/n1/full/jbr201220a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ogbeide, Henry & Thomson, Mary Elizabeth & Gonul, Mustafa Sinan & Pollock, Andrew Castairs & Bhowmick, Sanjay & Bello, Abdullahi Usman, 2023. "The anti-money laundering risk assessment: A probabilistic approach," Journal of Business Research, Elsevier, vol. 162(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jbkreg:v:15:y:2014:i:1:p:75-86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.