Money Laundering in a Two Sector Model: Using Theory for Measurement

Argentiero, Amedeo; Bagella, Michele; Busato, Francesco

doi:10.2139/ssrn.1263945

Cited by 16 publications

(26 citation statements)

References 36 publications

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“…A person who just cheats the government by not paying taxes from legal income cannot be prosecuted for money laundering. 2 Nor does the EU include tax evasion in its definition of money laundering. This omits a large aspect of international criminal financial behavior.…”

Section: Predicate Offences For Money Launderingmentioning

confidence: 99%

“…Though intense internal inquiry within the IMF never could clarify the source of this estimate 5 This is also called the 'balloon effect', see R. Seccombe [27] [44], it became a point of reference. So, money laundering is supposed to amount to about 5% of GDP according to the IMF and the Walker gravity model [42], to more according to Schneider 2000, [25] and Argentiero et al [2] and to much less according to Reuter and Truman [23] who think that measuring is of no use anyway (for a survey see [30][31][32]). Most of the studies refer to only one point in time and require updating (see e.g.…”

Section: Money Launderingmentioning

confidence: 99%

“…4 below shows the different outcomes of studies for Italy. Money laundering either fluctuates around a trend [9] or increases [2].…”

Section: Money Launderingmentioning

confidence: 99%

“…4 Money laundering measurements in Italy. Unger [32] from [2,9]. Schneider and Enste [25] and Schneider [24], Walker [43] …”

Section: Money Launderingmentioning

confidence: 99%

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Water always finds its way: Identifying new forms of money laundering

Unger

Hertog

2012

Crime Law Soc Change

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Money laundering regulations have become stricter over time and involve more and more actors. This means that the accountability of laundering regulation will become more important; theoretically, money laundering should have decreased with the implementation of new regulations. However, as this paper shows, it is difficult to estimate even the sign of the trend in the proceeds of crime and of laundering over time with particular reference to the drug trade. There seems to be a substitution from hard to softer drugs, and no substantial decline in the proceeds of crime and likewise no substantial decline in money laundering. Criminals seem to switch from the more controlled banking sector into still less controlled parts of financial markets, and from financial markets to other sectors. These new sectors include electronic payments, trade and real estate. The paper shows how one can empirically approach the latter two by using economic information of unusual prices and other characteristics in order to identify the amount of laundering in these sectors. Combining economic information with criminological data facilitates the development of a new tool for identifying money laundering in some important sectors.

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Section: Predicate Offences For Money Launderingmentioning

confidence: 99%

Section: Money Launderingmentioning

confidence: 99%

See 2 more Smart Citations

Water always finds its way: Identifying new forms of money laundering

Unger

Hertog

2012

Crime Law Soc Change

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“…Certainly, they will be mindful of the risks involved [37,38] but it is difficult to envisage that prior to committing a crime a potential criminal will calculate whether there is a positive net present value associated with the undertaking [26]. Although others have, for example, observed criminals adjusting their operations to lower risk activities such as a criminal moving away from involvement with drug trafficking to that of cigarette smuggling [39] or out of armed robbery once such crime became too high risk [40] towards the lower risk and infinitely richer pickings available from white collar crime [41,42].…”

Section: The Criminal Profit Formula and Effectiveness Of Approachmentioning

confidence: 99%

Prevention of money laundering and the role of asset recovery

Sittlington

Harvey

2018

Crime Law Soc Change

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The purpose of this paper is to examine the increasing emphasis of the UK anti-money laundering (AML) legislative framework, on the financial arrangements of criminals. Our qualitative study engaged key stakeholders from the AML environment through a series of focus groups. This included law enforcement; accountants; prosecutors; bankers and, importantly, ex-offenders. We argue that the inclusion of the views of a traditionally hard to reach group of ex-offenders, adds significantly to knowledge and understanding about effectiveness of AML. The research findings suggest that, at first glance, the focus on asset recovery has been successful. However, our respondents shared with us areas of tension and inconsistencies in application of the law, in particular between police and the courts. For example, whether it was better to prosecute the predicate offence separately or in addition to the offence of money laundering; or whether to pursue criminal or civil recovery. We further find that criminals have been able to use their knowledge to circumvent the system, suggesting that greater effort is needed to promote cooperation, rather than competition, in successfully detecting and prosecuting offenders.

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The Relationship Between Money Laundering and Economic Growth in the MENA Region—A Simultaneous Equation Model

Slama

Gueddari

2022

Key Challenges and Policy Reforms in the MENA Region

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Money Laundering in a Two Sector Model: Using Theory for Measurement

Cited by 16 publications

References 36 publications

Water always finds its way: Identifying new forms of money laundering

Water always finds its way: Identifying new forms of money laundering

Prevention of money laundering and the role of asset recovery

The Relationship Between Money Laundering and Economic Growth in the MENA Region—A Simultaneous Equation Model

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