Preventing Money Laundering and Terrorist Financing, Second Edition: A Practical Guide for Bank Supervisors

Chatain, Pierre-Laurent; Willebois, Emile van der Does de; Bökkerink, Maud

doi:10.1596/978-1-4648-1851-6

Cited by 3 publications

(2 citation statements)

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“…It is perceived, moreover, as a potential hindrance to countries' overall well-being (Dobrowolski and Sułkowski, 2019;Janjua and Khan, 2020;Ofoeda et al, 2022a). National and international organizations, including the Financial Action Task Force, the Basel Committee on Banking Supervision, the United Nations Office on Drugs and Crime, the International Monetary Fund, the World Bank and the Organization of Economic Cooperation and Development (OECD), recommend strongly fighting money laundering (see for instance Schott, 2006;OECD, 2009;Jakobi, 2015;Chatain et al, 2022). The devastating effect of money laundering is, however, not unanimously acknowledged, and there is currently no consensus amongst academic researches on whether money laundering would have a positive or an adverse impact on the economic activity (Ferwerda, 2018;Loayza et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Is money laundering a hurdle to achieving Sustainable Development Goals?

Gueddari

Saafi²,

Nouira

2023

JMLC

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Purpose The purpose of this study provide answers to the following research questions: Whether and to what extent money laundering affects the achievability and the trend of Sustainable Development Goals (SDGs)?; Does the influence of money laundering on the SDGs’ achievement differ from developing to developed countries?; How does the influence of money laundering vary among the 17 SDGs? Design/methodology/approach The paper’s analysis involves two key parts. In the first part, the authors perform a multivariate analysis to examine the influence of money laundering on the achievement of SDGs, and then in the second part, the authors make use of an ordered probit regression model to investigate the impact of money laundering on the trend of attaining each SDG. Findings Using a sample of 98 developed and developing countries, the regression results from multivariate analysis estimates show that money laundering has a strong inhibiting effect on the achievement of almost all the SDGs in the whole sample of countries and the sub-sample of developing countries, whereas no significant effect is observed for developed countries. However, for the SDG trends, the ordered probit estimates reveal that the harmful effect of money laundering occurs for all countries regardless their development level. In addition, perhaps surprisingly, the results from both the approaches yield also evidence advocating that money laundering activities might be associated with positive externalities on production and consumption. In fact, money laundering is found to have a significant positive influence on the achievement and the trend of SDG12 (Sustainable Consumption and Production). Overall, this study’s findings do have interesting policy implications, especially for developing countries. In these countries, prioritising the formulation and implementation of sound anti-money laundering policies is a necessary requirement for their progress towards achieving the SDGs. Originality/value The long-standing tradition of previous empirical studies examining the nexus between money laundering and sustainable development concentrates mainly on the economic dimension of sustainability (i.e. economic growth). However, little is known about the consequences of money laundering activities on the environment and the societies. Consequently, this study seeks to fill this gap by assessing the influence of money laundering on the achievement of the economic, environmental and social goals of sustainable development. To the best of the authors’ knowledge, this is the first integrated study to analyse the potential repercussions of money laundering on the SDGs’ achievement.

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Section: Introductionmentioning

confidence: 99%

Is money laundering a hurdle to achieving Sustainable Development Goals?

Gueddari

Saafi²,

Nouira

2023

JMLC

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“…The largest losses in the field of financial relations are caused by financial crimes in banks, the basis of which is deception. A group of researchers led by P.-L. Chatain (Chatain et al 2009) share the negative consequences, or problems, that financial institutions involved in illegal transactions may face, into reputation, operational and legal. When it comes to financial crimes, financial problems should also be added to the list.…”

Section: Introductionmentioning

confidence: 99%

Info-Communicative and Protective Function of the State as Combating Fraud using Sberbank Bank Cards

Nikodimov¹,

Burmistrov²,

Sinyukova³

et al. 2022

Int. J. Criminol. Sociol.

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Financial crimes are defined as unfair activities that have become widespread in banking structures. The activities of financial fraudsters often have negative consequences before public rules are created that prohibit them. Intensive transformation processes in financial markets, their automation and virtualisation, the spread of remote interaction between banks and their clients, the influence of unauthorised persons on the software and hardware systems of banks, an increase in the number of cases and trading volumes determine the relevance of clarifying the essence of this phenomenon and the peculiarities of its manifestation in banking structures. The novelty of the study is determined by the fact that financial violations can be represented both in the structure of the current activities of banks and the process of interaction with clients and in the structure of expanding the list of services provided. The leading method to study this problem is the method of analysis, which allows to identify and comprehensively consider ways to counter financial crimes in banks to improve the level of financial security. The authors show that structurally, one should take into account, first of all, countermeasures on the part of customers, which often serve as a source of obtaining personal data. In this case, the state function is considered only as a security function for the purpose of possible punishment for fraudulent actions. The practical significance of the study is determined by the possibilities of structural implementation of combating financial fraudulent actions in the context of the development of the information society.

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Revisiting the Corruption and Sustainable Development Nexus in Africa

Hope

2023

Advances in African Economic, Social and Political Development

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Preventing Money Laundering and Terrorist Financing, Second Edition: A Practical Guide for Bank Supervisors

Cited by 3 publications

References 0 publications

Is money laundering a hurdle to achieving Sustainable Development Goals?

Is money laundering a hurdle to achieving Sustainable Development Goals?

Info-Communicative and Protective Function of the State as Combating Fraud using Sberbank Bank Cards

Revisiting the Corruption and Sustainable Development Nexus in Africa

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