The Risk Based Approach in the New European Anti-Money Laundering Legislation: A Law and Economics View

Organized crime, money laundering and legal economy: theory and simulations

“…Despite harmonization efforts at both the European and international level, national legislations criminalizing money-laundering continue to differ (Dalla Pellegrina and Masciandaro 2009). Member States of the European Union applied the Money Laundering EU Directives, but the degree of discretion that is left open to states to decide the features of their own anti-money-laundering architectures produces still the possibility of arbitrage among different jurisdictions.…”

“…For criminal parties, the presence of intermediaries that collude with them (crook intermediaries) and/or honest but inefficient in protecting their integrity (lax intermediaries) increases the possibility of using the financial services system for their concealment objectives. See Takatz (2007), Masciandaro et al (2007), Picard andPieretti (2009), Dalla Pellegrina andMasciandaro (2009) and Unger and Van Waarden (2009). 15 From an economic point of view, the money laundering cost is the overall price of the operation, without any distinction among the three conventional stages-Schott (2006)-of placement, layering and integration.…”

Money Laundering - A Newly Emerging Topic on the International Agenda

“…Moreover, information overload can lead to delays in follow-up investigations into suspicious transactions. Strategic dilution of information by the private sector respondents can also bias this indicator quite a lot (see Takáts, 2007, Dalla Pellegrina andMasciandaro, 2009) and can make country comparison difficult (see Unger and van Waarden, 2009). …”

“…While both Takáts (2007) and Dalla Pellegrina and Masciandaro (2009) in this issue theoretically and empirically prove that the amount of reporting will increase and the quality of reporting will decrease under the new risk-based approach, Unger and Van Waarden (2009) show that there is one exception to this rule: the Netherlands.…”

De aanval is de beste verdediging

“…15 Ook in Nederland lijkt de kans dat vermogens met een criminele herkomst worden gedetecteerd en ontnomen relatief gering te zijn. 16 18 Een voorzichtige reconstructie van de resultaten gemeten in termen van onherroepelijke veroordelingen en afgenomen vermogen op basis van gegevens uit 2012 wijst uit dat minder dan 3 procent van alle verdachte transacties uiteindelijk in strafzaken is gebruikt waarin het OM jegens een of meer van de verdachten een vervolging heeft ingesteld. Dat is minder dan 1 procent van de oorspronkelijke aangemelde ongebruikelijke transacties.…”