Worldwide anti-money laundering regulation: estimating the costs and benefits

Barone, Raffaella; Masciandaro, Donato

doi:10.1504/gber.2008.019983

Cited by 19 publications

(8 citation statements)

References 3 publications

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“…As it has been already correctly pointed out (Barone and Masciandaro 2008), most literature on ML effects is pure speculation, or it is based on figures that are either wrongly cited, misinterpreted or just invented. And it is evident that the figures provided on the amount of money being laundered underestimates the phenomenon.…”

Section: Money Laundering Estimation: a Reviewmentioning

confidence: 99%

“…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. 16 Barone and Masciandaro (2008) proposed a static model, where also for the re-investment in the illegal sector it is necessary to clean the money. 17 Europol (2009).…”

Section: The Modelmentioning

confidence: 99%

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

Barone

Masciandaro

2010

Eur J Law Econ

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Section: Money Laundering Estimation: a Reviewmentioning

confidence: 99%

Section: The Modelmentioning

confidence: 99%

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

Barone

Masciandaro

2010

Eur J Law Econ

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“…The choice to reinvest the laundered money in the illegal sector behaves for the criminal to bear again the costs linked to the process. The investment in the illegal market is a crime and as such the implementer faces a risk to be discovered and convicted for it (see Barone & Masciandaro, , Barone & Masciandaro, ).…”

Section: Illegal and Legal Markets Money Laundering And The Role Of mentioning

confidence: 99%

Drug trafficking, money laundering and the business cycle: Does secular stagnation include crime?

2017

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The aim of the paper is to analyze theoretically and empirically the impact the macroeconomic cycle has on the accumulation of capital by organized crime, using estimates for the global drug market. So far, the economic literature has neglected the relationships existing between illegal markets, money laundering and the business cycle. We propose a dynamic model where the business cycle influences the criminal economy via two different channels. On the one side, illegal markets grow at variable rates, depending on the health of the legal economy. Second, a pass-through effect can exist, since the business cycle affects the legal markets which criminal operators use to launder their revenues. Furthermore, we analyze the consequences of a 'saturation effect' limiting maximum accumulation of illegal capital. We find that overall illegal capital is affected by the business cycle through a capital multiplier; in addition to this, the dynamics of interest rates in financial markets can influence such multiplier.

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“…A key role in the usury model is played by the guarantee g which is evaluated by the usurer differently from a bank, in particular when the borrower is an entrepreneur. 4 Banks base the creditworthiness of a firm needing finance on the real guarantee instead of its projected evaluation.…”

Section: The Optimization Problemmentioning

confidence: 99%

Illegal finance and usurers behaviour

Barone¹,

Cerqueti

Quaranta

2010

Eur J Law Econ

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This paper deals with a stochastic dynamic optimization problem in the context of illegal company financing. Our analysis of the usury phenomenon is conducted by searching for the best interest rate which an illegal fina whilst still securing the maximum wealth for In this case, the company itself can be taken over and used by the financier for illegal activities. Because of the highly complex nature of the problem, the analysis will be performed via simulation studies.

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Worldwide anti-money laundering regulation: estimating the costs and benefits

Cited by 19 publications

References 3 publications

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

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

Drug trafficking, money laundering and the business cycle: Does secular stagnation include crime?

Illegal finance and usurers behaviour

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