Banking and Finance Law Commons^™

Vat In The Gcc - Missing Trader Frauds, Richard Thompson Ainsworth, Musaad Alwohaibi

Faculty Scholarship

All VATs are susceptible to missing trader (MT) fraud. VATs adopted in an economic community are particularly more susceptible. The EU, for example, loses in excess of €100b annually to this fraud. Given the anticipated adoption of a European-style credit-invoice VAT in the GCC by January 1, 2018, this paper offers a technology-based solution involving the real-time tracking of taxable transactions with centrally collected (securely encrypted) data flows that are risk-analyzed by artificial intelligence (AI).

Prostitution Policy: Legalization, Decriminalization And The Nordic Model, Ane Mathieson, Easton Branam, Anya Noble

Seattle Journal for Social Justice

No abstract provided.

Don’T Risk It; Wait Until She’S Sober, Patrick John White

Seattle Journal for Social Justice

No abstract provided.

Let’S Talk About Sex: A Call For Guardianship Reform In Washington State, Sage Graves

Seattle Journal for Social Justice

No abstract provided.

Living Under The Boot: Militarization And Peaceful Protest, Charlotte Guerra

Seattle Journal for Social Justice

No abstract provided.

Let’S Invest In People, Not Prisons: How Washington State Should Address Its Ex-Offender Unemployment Rate, Sara Taboada

Seattle Journal for Social Justice

No abstract provided.

His Feminist Facade: The Neoliberal Co-Option Of The Feminist Movement, Anjilee Dodge, Myani Gilbert

Seattle Journal for Social Justice

No abstract provided.

In Her Words: Recognizing And Preventing Abusive Litigation Against Domestic Violence Survivors, David Ward

Seattle Journal for Social Justice

No abstract provided.

Cooperating Individual Or Entity: Law Enforcement's Friend In A Time Of Escalating Deficits And Tight Budgets, Albert F. Tellechea

Florida A & M University Law Review

No abstract provided.

Is There Really A Sex Bureaucracy?, Suzanne B. Goldberg

Faculty Scholarship

This essay identifies several features of the higher-education context that can enrich The Sex Bureaucracy‘s account of why colleges and universities have adopted new policies and trainings to address sexual assault on their campuses. These features include: 1) schools’ preexisting systems for addressing student conduct; 2) the shared interest of schools in reducing impediments to education, including nonconsensual sexual contact; and 3) the pedagogical challenges of developing trainings that are engaging and effective. Taking these three factors into account, we can see that while federal Title IX intervention has had a profound effect, it is also important not to …

Vat Fraud And Terrorist Funding: The Azizi Extradition, Part Ii, Richard Thompson Ainsworth

Faculty Scholarship

This paper considers the remaining seven (7) Missing Trader Intra-Community (MTIC) fraud schemes alleged (some conceded) to have been conducted by Samir Azizi, a 25 year old German/Afghan citizen, who was extradited from the United States to Germany on April 14, 2015. The MTIC fraud schemes considered in this Part II involve alleged losses of €45,801,403 under 63 further criminal counts.

Underlying both Parts of this assessment is a fundamental (but unanswered) question: “Who exactly is Samir Azizi? Is he the mastermind of a multi-million euro VAT fraud, a fundraising fraudster for terrorist organizations, or a youthful face-of- convenience disguising …

Trending @ Rwulaw: Susan Schwab Heyman's Post: Defining The Boundaries Of Insider Trading, Susan Schwab Heyman

Law School Blogs

No abstract provided.

Vat Fraud And Terrorist Funding: The Azizi Extradition, Part I, Richard Thompson Ainsworth

Faculty Scholarship

On April 14, 2015 Samir Azizi, a 25 year old German/Afghan citizen, was extradited from the United States to Germany. The Extradition Compliant alleged (in 89 criminal counts) that Azizi had denied the German Treasury €61,104,368 in VAT revenue with 12 distinct Missing Trader Intra-Community (MTIC) fraud schemes. At the time of arrest the 26 year old Azizi admitted that his involvement in MTIC frauds stretched back even before 2008, the initial reference year of the Complaint.

This paper assesses the Azizi extradition in two parts. The first part considers the first 26 criminal counts, representing alleged VAT losses of …

An Introductory Examination Of The Racketeer Influenced And Corrupt Organizations Act,, David E. Morris

Akron Law Review

This comment will attempt to serve as an introduction to RICO, addressed to those with little or no knowledge of either its provisions and intricacies, or its potential usefulness and adaptability as a prosecution tool. The recent criticism of RICO by the American Bar Association will also be reviewed, as well as the ABA's proposed amendments to RICO. Finally, the state RICO statutes will be discussed. The advantages they offer states currently without any substantive laws dealing directly and primarily with organized and white-collar crime will be examined.

Can Banks Be Liable For Aiding And Abetting Terrorism?: A Closer Look Into The Split On Secondary Liability Under The Antiterrorism Act, Alison Bitterly

Fordham Law Review

    The Antiterrorism Act of 1990 (ATA) explicitly authorizes a private cause of action for U.S. nationals who suffer an injury “by reason of an act of international terrorism.” ATA civil litigation has increased dramatically following September 11, 2001—and banks, because of their deep pockets, have emerged as an increasingly popular target. Courts are divided concerning the scope of liability under the statute, specifically over whether the ATA authorizes a cause of action premised on secondary liability. Under a secondary liability theory, a plaintiff could argue that a bank, through providing financial services to a terrorist client, aided and abetted an …

Phishing And Vat Fraud In Co2 Permits: The Digital Invoice Customs Exchange Solution, Richard Thompson Ainsworth

Faculty Scholarship

In accordance with Directive 2003/87/EC of October 13, 2003, trade in greenhouse gas emissions commenced in the European Union (EU) on January 1, 2005. The EU-Emissions Trading System (EU-ETS) was born.

The EU has a Value Added Tax (VAT). VAT is a transaction-based levy on all trade in goods and services. Each Member State has a VAT as a condition of membership. Until January 3, 2017 transactions in CO2 permits are taxed as services. After this date they are exempt as financial instruments.

This change in VAT treatment of CO2 permits is directly attributable to rampant fraud in the market. …

The Risk Of Money Laundering Through Crowdfunding: A Funding Portal's Guide To Compliance And Crime Fighting, Zachary Robock

Michigan Business & Entrepreneurial Law Review

With the recent passage of the Jumpstart Our Business Startups Act (“JOBS Act”) and proposed regulations, equity crowdfunding is poised to play an important role in fundraising for many types of emerging growth companies. A fundamental purpose of crowdfunding is to reduce economic barriers to capital markets for emerging growth companies, in part by relaxing rigorous information disclosure requirements currently mandated by the Securities and Exchange Commission (“SEC”). Relaxed regulation should help reduce the cost of fundraising, but it will also present certain risks. Investor fraud is a common concern, which is addressed at length in the JOBS Act and …

A Fistful Of Dollars: "Operation Casablanca" And The Impact Of Extraterritorial Enforcement Of The United States Money Laundering Law, Michael D. Hoffer

Georgia Journal of International & Comparative Law

No abstract provided.

Sales Suppression As A Service (Ssaas) & The Apple Store Solution, Richard Thompson Ainsworth

Faculty Scholarship

The problem of sales suppression fraud is estimated to cost state and local governments $20 billion annually ($2 billion in New York restaurants alone). Modern sales suppression (skimming) is carried out with technology (Zappers and Phantom-ware). Nine undercover sting operations in and around Manhattan and the Bronx by investigators working for New York’s Department of Taxation and Finance (NY-DT&F) have identified the SSaaS variant of modern skimming.

A striking example of SSaaS may be unfolding in the $1 million sales suppression case against Congressman Michael Grimm (R-NY). It is alleged that Grimm skimmed sales from his Healthalicious restaurant in Manhattan, …

Magnifying Deterrence By Prosecuting Professionals, Scott Schumacher

Indiana Law Journal

This Article examines the recent series of criminal prosecutions against tax professionals and offshore bankers. These criminal cases, brought against the largest Swiss bank (UBS), the oldest Swiss bank (Wegelin), one of the largest accounting firms in the world (KPMG), as well as numerous lawyers and accountants, represent a dramatic shift for the U.S. Department of Justice. After decades of tolerating abusive tax shelters and tax haven banks, the government changed its policy. However, rather than indicting the individuals and corporations who invested in tax shelters or hid money in offshore accounts, the Justice Department indicted the lawyers, accountants, and …

Deferred Prosecutions In The Corporate Sector: Lessons From Libor, Justin O'Brien, Olivia Dixon

Seattle University Law Review

Since 2008, the global economic downturn has significantly in-creased operating pressures on major corporations. Additionally, there has been a corresponding increase in corporate tolerance for corruption, which has coincided with a marked preference by regulators in settling, rather than litigating, enforcement actions. This Article argues that the expansion of prosecutorial authority without appropriate accountability restraints is a major tactical and strategic error. It evaluates whether the mechanism can be made subject to effective oversight. It argues that the current frame-work in the United States is highly problematic, leading to settlements that generate newspaper headlines but not necessarily cultural change. It …

Turning Restitution Upside-Down: The Mortgage Fraud Restitution Formula Amidst Volatile Housing Prices, Nicole Scott

Nevada Law Journal

No abstract provided.

Property And Mortgage Fraud Under The Mandatory Victims Restitution Act: What Is Stolen And When Is It Returned?, Arthur Durst

William & Mary Business Law Review

The United States Circuit Courts of Appeals are split on how to calculate restitution in a criminal loan fraud situation where collateral is involved. This trend is best illustrated in cases involving mortgage fraud. The split stems from disagreement over how to account for the lender’s receipt of collateral property. The Third, Seventh, Eighth, and Tenth Circuit Courts of Appeals consider the property returned when the person defrauded receives cash from the sale of collateral property. The Second, Fifth, and Ninth Circuits deem the property returned when the lender takes ownership of the collateral property. This Note argues that the …

The Icc's Exit Problem, Rebecca Hamilton

Scholarly Articles in Law Reviews & Journals

The International Criminal Court (ICC) was never meant to supplant the domestic prosecution of international crimes. And yet the Court is now entering its second decade of operations in four African nations, with no plan for exit in sight. This Article identifies the looming need for the ICC to consider when and how to exit situations in which it is currently active. In addition to the normative concern that a failure to start planning for exit undercuts the Court’s placement within a system of complementarity, the need to consider exit is also driven by a financial imperative. The Court’s caseload …

The Undersigned Attorney Hereby Certifies -- The Washington Supreme Court Rule On Standards And Its Implications, Justice Sheryl Gordon Mccloud, Justice Susan Owens, Marc Boman, Joanne Moore

Seattle Journal for Social Justice

No abstract provided.

G Forces: Gideon V. Wainwright And Matthew Adler's Move Beyond Cost-Benefit Analysis, Janet Moore

Seattle Journal for Social Justice

No abstract provided.

Dark Medicine: How The National Research Act Has Failed To Address Racist Practices In Biomedical Experiments Targeting The African-American Community, Anietie Maureen-Ann Akpan

Seattle Journal for Social Justice

No abstract provided.

Do We Have It Right This Time? An Analysis Of The Accomplishments And Shortcomings Of Washington's Indian Child Welfare Act, Karen Gray Young

Seattle Journal for Social Justice

No abstract provided.

Securing Food Justice, Sovereignty & Sustainability In The Face Of The Food Safety Modernization Act (Fsma), Eve Kerber

Seattle Journal for Social Justice

No abstract provided.

Driving While License Suspended - Third Degree, A Framework For Requesting Alternative Sentences, Sahar Fathi

Seattle Journal for Social Justice

No abstract provided.