The new policing of assets and the new assets of policing : A tentative financial cost‐benefit analysis of the UK's anti‐money laundering and asset recovery regime

Purpose – Asset recovery and the incentivisation of law enforcement is a theme within both the official and critical discourses on anti‐money laundering and asset recovery. This paper attempts to find out whether this so‐called “new policing of assets” in the UK has produced new assets for policing. Design/methodology/approach – The aim is achieved by producing an estimate for the costs to private companies and public authorities as well as an estimate of the financial benefits, both of which challenge the costs and benefits stated in previous work on the issue. Findings – In doing this work it points out the difficulty of producing such costings and questions whether the regime justifies the compliance costs imposed. Originality/value – The paper contributes to the debate about improving the quality of cost‐benefit analyses of the money laundering regime.