Avocat, rechtsanwalt or agent of the state?

Ola Svenonius and Ulrika Mörth

Journal of Money Laundering Control, 2020, vol. 23, issue 4, 849-862

Abstract: Purpose - The purpose of this paper is to analyse how lawyers in two of the largest European economies manage the contradictory requirements set by anti-money laundering and counter-terrorism financing (AML/CTF) legislation on the one hand and professional codes of ethics on the other hand. Design/methodology/approach - The study is based on qualitative interviews with French and German lawyers. It asks “How do European lawyers handle the conflicting demands ensuing from their roles as frontlines workers?” The paper uses lawyers’ day-to-day practices and variations in member states’ transpositions of the European Union directives as a starting point to study AML/CTF in the miniscule. Findings - The article shows that contextual institutional restraints and cultural factors have significant impact on the possibility to enlist for-profit actors in the fight against terrorism an organised crime. Research limitations/implications - This research highlights several factors inherent in AML/CTF regulation that warrant further research. Not only should further work be carried to broaden the understanding of lawyers but also other actors included in this policy area. Practical implications - The study explains why French and German lawyers do not comply as expected by the legislator. If increased compliance is required, then the paper provides input into what measures can be taken, by policy, enforcement and supervision. Originality/value - The study focusses on a hard-to-reach group of actors in AML/CTF regulation that has never before been studied in detail. As recent scandals have shown, lawyers are key actors in global finance but have rarely been scrutinised in their AML compliance norms and routines.

Keywords: Germany; France; Compliance; Lawyers; Anti-money laundering regulation; Non-financial sector (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-09-2019-0069

DOI: 10.1108/JMLC-09-2019-0069

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