In this work, two models for legal and illegal financiers are presented. The aim of the financiers are different: a bank try to minimize the defalt probabilityof the funded company, while the illegal financier aims to bring the company to bankruptcy and, at the same time, to obtain the maximum...

This paper is the first to analyse the three-way relationship among money laundering, anti-money-laundering efforts and corruption. On the one hand, if we assume that the goal of criminals involved in corruption is to minimize the probability of being detected, then corruption represents a...

In this paper, we address the following research question: How are corruption, money laundering (ML) and environmental crimes (EC) intertwined? We suggest that these crimes are intertwined in a circular system: on the one hand corruption serves as a first step to commit an EC; than EC and...

We present an innovative technique based on unsupervised machine learning, to show the presence of potentially fake items in a corpus of user generated reviews. We focused on the case of Rome’s B&Bs reviews (taken from an important field portal), drawing attention to the impact this have on...

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,...

The aim of the paper is twofold. First of all, it highlights some weak points of the new reform of the Italian cooperative credit banks (i.e. the Law 08 April, 2016). Furthermore, after a sectioning of the cooperative credit trends during recent years, it aims to emphasize a possible risk of the...

This paper has three goals. First, some theoretical remarks about money laundering (both the demand and supply sides) are made. Second, we provide a quantitative analysis of money laundering and a preliminary review of our empirical findings on the proceeds of transnational crime worldwide, as...

The article presents a novel dynamic setting to compare old – usury – and new – cryptocurrency – money laundering techniques and uses it for calibration to shed light on their relative role as an effective device for the criminal organizations to clean their illegal revenues. The...

The aim of this paper is to present a principal-and-two-agents model, by which to assess the role of the political cycle in determining the design of the institutions of monetary and of regulatory policy. In particular the specific issue is: should the responsibility of the two policies be...

In this paper I point out the role assumed by behavioral finance in order to explain financial market trend in the last few years, which doesn't seem to respect classical financial theory principles: price equals stock fundamental value.The two approaches make two different assumptions. The...