Starving Terrorists of their financial oxygen - at all costs?
Journal of Money Laundering Control (2010)
Sidney Yankson, Boston University
Abstract
This paper will review the designation system under United Nations Security Council (UNSC) resolutions 1267 (1999) and 1373 (2001). The purpose of these two resolutions is to freeze funds or other assets. These resolutions differ in the persons and entities whose funds or other assets are to be frozen, the authorities responsible for making these designations and the effect of these designations. UNSC resolution 1267 (1999) obligates jurisdictions to freeze funds and assets owned or controlled by Al-Qaida, The Taliban, Usama Bin Laden or persons and entities associated with them. The designations of persons and entities for the purpose of this resolution can only be made by the UN Al-Qaida and Taliban Sanctions Committee (ATSC). All UN members must follow these designations. UNSC resolution 1373 (2001) obligates jurisdictions to freeze funds and assets of persons, or entities associated with them, who commit, or attempt to commit, terrorist acts or participate in or facilitate the commission of terrorist acts. Each individual jurisdiction has the authority to designate the persons or entities that should have their assets frozen and each jurisdiction should give effect to other jurisdictions freezing actions. Each jurisdiction receiving a request for an asset freeze has to satisfy itself that according to applicable legal principles, a request for designation is supported by reasonable grounds, or a reasonable basis, for asset freezing. The 1999 Terrorist Financing Convention also seeks to achieve similar objectives to the aforementioned resolutions for the high contracting parties. By September 2001, the 1999 convention had not received the required 22 ratifications (Bantekas, 2003). UNSC resolution 1373 changed all that by making the gist of the 1999 Convention binding on all UN member states irrespective of their ratification or otherwise of the convention.
Keywords
United Nations,
anti-terrorism,
asset freezing,
FATF,
European Union,
evidence,
clandestine services
Disciplines
Publication Date
Summer July 30, 2010
Citation Information
UNAMIR - lessons learned
Hong Kong Journal of Legal Studies (2010)
Sidney Yankson, Boston University
Abstract
This paper will answer three central questions; firstly, what was the background and need for United Nations Observer Mission in Uganda-Rwanda (“UNOMUR”) and subsequently United Nations Assistance Mission For Rwanda (“UNAMIR”); secondly, what caused the missions to fail; and thirdly, what were the lessons learned and to what extent can these lessons be useful in future and on-going operations? I will argue that the mandate for UNOMUR was too narrow, and UNAMIR, without the political will for support, was a catastrophe waiting to happen. In the future, the United Nations Security Council (“UNSC”) needs to find the political will if it is to do the job it was empowered to as the world’s police force and the protector of human rights.
Keywords
United Nations,
UNAMIR,
Rwanda,
Human RIghts,
international law,
international community,
rule of law,
genocide
Disciplines
Law and
Publication Date
June, 2010
Citation Information
Unpublished Paper
United Nations Peace Operations - the future
(2009)
Sidney Yankson, Boston University
Abstract
The United Nations (“UN”) was founded in 1945 after World War II to save succeeding generations from the scourge of war. Sadly, these lofty ideals have not materialised and the world today seems to be in a permanent state of war punctuated by periods of peace. John F. Kennedy, together with the drafters of the UN charter, saw one of the primary roles of the UN as form of world police. As Kennedy’s quote above shows, his rhetoric even went so far as establishing an international police force, presumably with jurisdictional freedom to enter sovereign states at will. Clearly we are a long way from a UN military force, let alone an international police force. I will argue that peace operations have been and will continue to be a marginal option which States will chose, or not, to support as their own domestic agenda dictates.
Keywords
United Nations,
Human RIghts,
international law,
international community,
rule of law,
genocide,
international peace and security
Disciplines
Publication Date
2009
Citation Information
Sidney Yankson. "United Nations Peace Operations - the future" (2009)
Contribution to Book
Cap. 615: Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance
THE HONG KONG ANTI-MONEY LAUNDERING ORDINANCES: COMMENTARY AND ANNOTATIONS (COLLECTED VOLUME) (2014)
Sidney Yankson, Boston University School of Law
Abstract
Comprehensive and succinct analyses of general and specific legal implications: • Analyses and discussions are systematically structured, section by section • The concise format gives readers exactly what they need to aid their understanding of the Ordinances • Provides analysis of anticipated legal issues that may yet arise
Keywords
Anti-Money Laundering,
Counter-Terrorist Financing,
Financial Services,
Banking,
Finance,
Regulated Activities
Disciplines
Publication Date
July, 2014
Publisher
Sweet & Maxwell
Series
1
Citation Information
Contribution to Book
General review of PRINCIPLES OF HONG KONG BANKING LAW (2013)
Sidney Yankson, Boston University School of Law
Abstract
This book fills the gap on how common law continues to apply in Hong Kong’s banking industry in regards to the following topics: • Illustrates the uniqueness of the Hong Kong banking supervisory and regulatory system; • Demystifies Hong Kong Money Authorities’ monetary power in market stabilisation under the Basic Law; • Explains Hong Kong’s Clearing system functions for the RMB offshore clearing hub; and • Examines and explains the changes and/or impact of the Chinese Policy on Hong Kong’s common law and conflicts (sovereign immunity) concerning the issues of litigating in Hong Kong Courts. A publication for both academics and practitioners who need a reliable source covering all banking related topics • Serves as a good referencing authority in practice for practitioners • A comprehensive, informative source of material for academics and students.
Keywords
Banking law,
Hong Kong
Disciplines
Publication Date
July, 2013
Editor
Mark Hsiao
Publisher
Sweet & Maxwell
Citation Information
Sidney Yankson. "General review of book." Hong Kong PRINCIPLES OF HONG KONG BANKING LAW (2013)
Book chapter
Derivatives in Islamic Finance - A Case for Interest Rate Swaps
Opportunities in Islamic Finance - Unconventional Answers to the Credit Crisis (2011)
Sidney Yankson, Boston University
Abstract
This article critically analyses whether there is a case for financial derivative instruments under Islamic law. It starts with a review of the classical texts of Islamic law, namely the Qur’an, Sunnah and the hadith. It then goes on to discuss Sharia compliant financial instruments, for example bai salem. The discussion focuses on whether Sharia compliant instruments are equivalent to western style financial derivatives both in substance and in form to see whether a case can be made for financial derivatives in general and interest rate swaps in particular under Sharia law.
Keywords
derivatives,
interest rate swaps,
shariah,
islamic finance,
islamic law,
riba,
gharar
Disciplines
Publication Date
June, 2011
Editor
Brian Kettell
Publisher
Dominic De Sousa - CPI Financial Books
Citation Information
Contribution to Book
Cap. 615: Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance
THE HONG KONG ANTI-MONEY LAUNDERING ORDINANCES: COMMENTARY AND ANNOTATIONS (COLLECTED VOLUME) (2014)
Sidney Yankson, Boston University School of Law
Abstract
Comprehensive and succinct analyses of general and specific legal implications: • Analyses and discussions are systematically structured, section by section • The concise format gives readers exactly what they need to aid their understanding of the Ordinances • Provides analysis of anticipated legal issues that may yet arise
Keywords
Anti-Money Laundering,
Counter-Terrorist Financing,
Financial Services,
Banking,
Finance,
Regulated Activities
Disciplines
Publication Date
July, 2014
Publisher
Sweet & Maxwell
Series
1
Citation Information