In this paper, a first assessment of the 2007 reform of the Italian Anti-Money Laundering (AML) law is presented. In light of the relevant literature on AML, the reform seems to improve the Italian AML framework in many ways, but there persist some drawbacks on both the legal and the enforcement...

To compete for criminal money by means of high levels of bank secrecy has been a tempting strategy for countries to attract globally mobile funds. We show in a model that this 'Seychelles strategy' can increase national output, in particular, if a country takes first movement leadership in the...

The Anti-Money Laundering and the Combating of the Financing of Terrorism (AML/CFT) regime constitutes one of the international standards regulating the behaviour of states and private sector actors. Using a quantitative methodology, this paper provides evidence that different jurisdictions'...

The aim of this article is to offer a simple framework for estimating the benefits and costs of anti-ML regulation, based on a prudent estimation of the economic value of worldwide money laundering. Using the multiplier model of the relationship between criminal markets revenues and money...

To compete for criminal money by means of high levels of bank secrecy has been a tempting strategy for countries to attract globally mobile funds. We show in a model that this 'Seychelles strategy' can increase national output, in particular, if a country takes first movement leadership in the...

The Anti-Money Laundering and the Combating of the Financing of Terrorism (AML/CFT) regime constitutes one of the international standards regulating the behaviour of states and private sector actors. Using a quantitative methodology, this paper provides evidence that different jurisdictions'...

The aim of this article is to offer a simple framework for estimating the benefits and costs of anti-ML regulation, based on a prudent estimation of the economic value of worldwide money laundering. Using the multiplier model of the relationship between criminal markets revenues and money...

In this paper, a first assessment of the 2007 reform of the Italian Anti-Money Laundering (AML) law is presented. In light of the relevant literature on AML, the reform seems to improve the Italian AML framework in many ways, but there persist some drawbacks on both the legal and the enforcement...