Shedding Light on Money Laundering.  Is It a Damping Wave?

Schneider, Friedrich; Barone, Raffaella

doi:10.2139/ssrn.3204289

Cited by 8 publications

(12 citation statements)

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“…They found the public benefits would outweigh the cost of AML regulations. Similarly, Barone and Schneider (2018) are of the view that a causal link exists such that effective AML regulations increase the costs for criminal organisations, which they describe as an efficient way to reduce money laundering.…”

Section: Aml Framework and Its Effectivenessmentioning

confidence: 99%

“…It becomes quite vital to determine the importance and role of money launderers to undertake such illicit activity, consciously or unwittingly, to understand their source of motivation (Barone and Masciandaro, 2011;Barone and Schneider, 2018). Van Duyne ( 2003) and Reuter and Truman (2004) found that criminals generally laundered money themselves rather than hiring professionals to do it.…”

Section: The Role Of Actors and Their Relative Importancementioning

confidence: 99%

“…Numerous researchers have since focused on quantifying the amount of money being laundered and how it is being laundered (Ardizzi et al, 2014;Argentiero et al, 2008;Barone and Masciandaro, 2011;Barone and Schneider, 2018;Biagioli, 2008;Ferwerda et al, 2013;Hassan and Schneider, 2016a;Hassan and Schneider, 2016b;Medina and Schneider, 2018;Schneider and Enste, 2000;Schneider, 2010;Schott, 2006;Unger, 2013;Unger and Hertog, 2012;Walker and Unger, 2009;Zdanowicz, 2004b;Zdanowicz, 2009). Researchers have used a variety of methods including the use of case studies, proxy variables and economic models.…”

Section: Magnitude Of Money Launderingmentioning

confidence: 99%

“…These opportunities have come about because of rapid advances in technology. Barone and Schneider (2018) view cyberlaundering and money laundering accomplished through the use of automatic electronic devices as a growing threat. Irwin et al (2012) proposed that an understanding of the modus operandi for money laundering and terror financing could be used for developing typologies for the virtual world.…”

Section: New Opportunities For Money Launderingmentioning

confidence: 99%

See 3 more Smart Citations

A review of money laundering literature: the state of research in key areas

Tiwari

Gepp

Kumar

2020

PAR

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Purpose:The purpose of this study is to review the literature on money laundering and its related areas. The main objective is to identify any gaps in the literature and direct attention towards addressing them.Design/Methodology/Approach: A systematic review of the money laundering literature was conducted with an emphasis on the Pro-Quest, Scopus and Science-Direct databases. Broad research themes were identified after investigating the literature. The theme about the detection of money laundering was then further investigated. The major approaches of such detection are identified as well as research gaps that could be addressed in future studies. Findings:The literature on money laundering can be classified into the following six broad areas: (i) anti-money laundering framework and its effectiveness, (ii) the effect of money laundering on other fields and the economy, (iii) the role of actors and their relative importance, (iv) the magnitude of money laundering, (v) new opportunities available for money laundering and (vi) detection of money laundering. Most studies about the detection of money laundering have focused on the use of innovative technologies, banking transactions, or real estate and trade-based money laundering. However, the literature on the detection of shell companies being explicitly used to launder funds is relatively scarce.Originality/Value: This paper provides insights into an area related to money laundering where research is relatively scant. Shell companies incorporated in the UK alone were identified to be associated with laundering 80 billion pounds of stolen money between 2010 and 2014. The use of these entities to launder billions of dollars as witnessed through the laundromat schemes and several data leaks clearly indicate the need to focus on illicit financial flows through such entities.

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Section: Aml Framework and Its Effectivenessmentioning

confidence: 99%

Section: The Role Of Actors and Their Relative Importancementioning

confidence: 99%

Section: Magnitude Of Money Launderingmentioning

confidence: 99%

Section: New Opportunities For Money Launderingmentioning

confidence: 99%

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A review of money laundering literature: the state of research in key areas

Tiwari

Gepp

Kumar

2020

PAR

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“…Money laundering is a process in which dirty, illegal and illegitimate money is placed in a cycle of exchanges so that after leaving the cycle, it looks legal and clean. In other words, the source of the proceeds obtained through illegal means are kept so secret by using exchange tricks and successive transfers that it seems perfectly legal (Cheng & Wang, 2020;Hopkins & Shelton, 2019;Barone & Schneider, 2018;Demetis, 2018). If this process succeeds, criminals can earn money from their crimes through a legal source (Hopkins & Shelton, 2019;Helmy et al, 2016).…”

Section: Literature Reviewmentioning

confidence: 99%

Identifying the Suspected Cases of Money Laundering in Banking Using Multiple Attribute Decision Making (MADM)

2021

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Money laundering is among the most common financial crimes that negatively affect countries' economies and hurt their social and political relations. With the increasing growth of e-banking and the increase in electronic financial transactions, the identification of money laundering methods and behaviors has become more complex; because money launderers, by accessing the Internet and using new technologies, find new ways to legalize their illegal income. Although many efforts have been made to identify suspected cases of money laundering and fight against this financial crime, little success has been achieved in this regard, especially in developing countries. Hence, this study tries to identify the risk factors involved in money laundering in banking transactions. To this end, multiple attribute decision-making methods, such as the Shannon entropy method, hierarchical analysis, and two-level fuzzy hierarchical analysis, have been used to assess and score the risk of various transactions in money laundering. The results indicated that the highest risk of money laundering was in the POS transactions.

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Weeding Out Dirty Money: Cannabis Regulations and Financial Crime

Ferrill,

Tiwari

2024

Financial Crime and the Law

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Shedding Light on Money Laundering. Is It a Damping Wave?

Cited by 8 publications

References 0 publications

A review of money laundering literature: the state of research in key areas

A review of money laundering literature: the state of research in key areas

Identifying the Suspected Cases of Money Laundering in Banking Using Multiple Attribute Decision Making (MADM)

Weeding Out Dirty Money: Cannabis Regulations and Financial Crime

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