Utilising advanced accounting software to trace the reintegration of proceeds of crime, from underground banking into the formal banking system

• Main Author: Botes, Christo
• Other Authors: Olivier, Nicolaas Jacobus Campher
• Format: Others
• Language: en
• Published: 2009
• Subjects: 363.259680968; Forensic sciences > South Africa; Forensic accounting > South Africa; Computer crimes > Investigation > South Africa; Computer crimes > South Africa > Prevention; Criminal investigation > South Africa; Information storage and retrieval systems > Criminal investigation > South Africa; Fraud investigation > South Africa; White collar crime investigation > South Africa; Money laundering investigation > South Africa; Money laundering > South Africa > Prevention; Hawala system; Accounting fraud > South Africa; Accounting > South Africa > Software; Electronic data processing > South Africa > Auditing; Banks and banking > South Africa > Records and correspondence; Accounting > South Africa > Computer programs
• Online Access: http://hdl.handle.net/10500/791

The aim of this paper is to research how advanced accounting software can be used by police detectives, financial risk specialists and forensic investigation specialists, who are responsible for the investigation and tracing of the reintegration of proceeds of crime, from underground banking into formal banking system (pro active and reactive money laundering investigation) with a view on criminal prosecution. The research started of by looking at the basic ways how proceeds of crime are smuggled before it is integrated into the formal banking system. In that context, the phenomenon of Underground banking was researched. Currency smuggling, Hawala currency transfer schemes and the way in which it is used to move proceeds of crime were discussed in detail. Thereafter Formal banking and the way in which proceeds of crime is reintegrated from underground banking structures into formal banking systems were discussed. The use of advanced accounting software to trace the point where proceeds of crime are reintegrated into formal banking were researched extensively. Accounting software and investigative techniques on how to trace financial transactions which might be tainted with proceeds of crime were discussed. Accounting software which can be used on office computers such as laptops were discussed and more advanced automated systems which can be used to trace proceeds of crime transactions in the formal banking systems were also discussed. In specific, the investigative techniques on how to use these systems as investigative tools were discussed in great detail. This research paper gives a truly unique perspective on the financial investigative and analytical angle on proceeds of crime and money laundering detection. === Criminal Justice === M.Tech. (Forensic Investigation)