CEU Electronic Theses and Dissertations, 2024
| Author | Sulaimankulova, Kamila |
|---|---|
| Title | Combating Money Laundering in Arbitration through Enhanced Transparency |
| Summary | International commercial arbitration is attractive for parties due to its selling feature – confidentiality. Despite confidentiality being a cornerstone of arbitration and fostering an environment favoring the resolution of disputes, it can provide an ideal environment to conceal and disguise the origin of money. An arbitral award – issued in terms that enshrine a settlement between the parties – might be seen as the perfect means to legitimize money flows, that have an illicit origin. As the tension between confidentiality and transparency is becoming a subject of growing controversy, one of the important issues to be aware of is the issue of abuse of the institution of arbitration for money laundering. This paper focuses on one category of cases of money laundering in arbitration – in particular, the issue of “fake” disputes, where all parties are familiar with all illegal activities and have the intention to commit money laundering in participating with each other. It has been argued that in case arbitrators suspect money laundering, there are very limited number of solutions for this issue and guidelines are usually unhelpful in solving it. This paper proposes another solution to help reduce or prevent the issue of misuse of institution of arbitration for money laundering, which is to increase the overall transparency of proceedings through publication of redacted awards. The present paper argues whether or not it is possible to increase transparency, while not creating a tension with confidentiality, in such a way to reduce misuse of arbitration for money laundering. |
| Supervisor | Petsche, Markus Aurel |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2024/sulaimankulova_kami.pdf |
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