Research on the Prevention and Control of Self-Money-Laundering in the Digital Age

The development of virtual currencies,network banking,and artificial intelligence technologies facilitates the implementation and completion of self-money laundering in crimes involving embezzlement and bribery.Amendment XI to the Criminal Law of the People's Republic of China lists self-money laundering as a separate money laundering crime,breaking the restrictive framework that it must be committed by someone else.This is reflective of the specific interest that China has in anti-money laundering.The criminalization of self-money laundering has been adopted as a powerful legal weapon against money laundering.However,it has confronted a series of dilemmas in terms of specific judicial applications.To gradually address the dilemmas in applying the clause,a comprehensive consideration of Chinese judicial and anti-money laundering practices,as well as international anti-money laundering regulations and practices,is carried out.Moreover,the following recommendations are given:that the protection of legal interests concerning self-money laundering should be expanded appropriately;that a penalty and cooperation system should be established for the crime of self-money laundering;and that the scope of the means of self-money laundering should be extended.

An Analysis of Causes of Professional Embezzlement Committed by Executives of State-Owned Enterprise Based on the “Triangle Theory”

According to the fraud"triangle theory",the causes of professional embezzlements committed by executives of China’s state-owned enterprises are mainly from pressure,opportunities and excuses.Among them,pressure is a huge psychological burden and desire generated by the combined action of the self-interested value orientation of the economic man and the value-oriented market economy in the pursuit of wealth.Opportunity refers mainly to the weak restrain on the asset operation responsibility of the executives,the cultural atmosphere of advocating the status and authority in the enterprises,and the lack of necessary power balance and internal control,all of them are caused by the system defects of the company systems under the public ownership.Excuses mainly have such forms as"kickbacks","borrowed money"and unreasonable design of remuneration and incentive systems,etc.The effective way to prevent executives of state-owned enterprises from committing professional embezzlement is to select the personnel with excellent conduct and ability as executives,create the corporate culture of honesty and trustworthiness,perfect a variety of mechanisms and systems,urge the effective implementation of the system,and maintain the normal operation of the mechanism.

Fiduciary Duties in Company Law:A German Perspective

As Chinese practitioners and scholars ponder the scope of fiduciary obligations under the country’s company law,this paper offers a comparative perspective from German law.Although German corporate law has not rejected legal transplants,the common law trust has never been accepted as an organizational device for administering third-party funds or doing business.Nonetheless,the German judiciary has developed a sophisticated concept of fiduciary obligations where the statutes remain silent.This paper explores the application of fiduciary obligations to limited partnerships,limited liability companies,and stock corporations.It takes a membership perspective to ascertain the legal relationships between a corporation and its shareholder-members and among fellow-shareholders,as business entities evolve from personalistic to capitalistic settings.Fiduciary obligations also inform the relationship between the corporation and its directors and corporate officers.Although German law does not classify directors and corporate officers as the shareholders’direct trustees,shareholders stand nonetheless to benefit from the way directors and corporate offices discharge their duties towards the respective corporate entities.Moreover,criminal law rules on embezzlement operate to protect the corporation and the monies it administers from overly risky business projects.

Profile of Managers of Public Funds and Accounting Misappropriations in Cameroon

In order to curb accounting embezzlements,the key idea supported in this paper recommends a revolution from the top and from the bottom.The paper is interested in the managerial policy whose accounting practices serve as launch pad for embezzlement.To succeed in this,the theory of structuro-managerial embezzlement of public funds is mobilized.The subject is the analysis with a view to present the face of managers-embezzlers of public funds and their accounting mechanisms of embezzlement.The loopholes that these actors-embezzlers exploit are judiciously presented.It is therefore important to explain the determining profiles of public funds embezzlers and the accounting mechanisms used.The positivist approach of accounting thus constitutes a second theoretical backing in support of the first one to answer these questions.In order to oppose the idea of embezzlement without accounting evidence,this article adopts an interpretative and explanatory approach of cases of embezzlement of public funds of which accountancy is the secular lever.

A Sweeping Victory

China’s anti-corruption drive declared success Sixty-year-old Zhang Huiguang used to live a glamorous life until it was shattered by her own greediness.The Beijing No.1 Intermediate Court recently sentenced her to 15 years in prison and a fine of 3.5 million yuan($522,220)for embezzlement and bribery.