The purpose of this paper is to present an empirical assessment and outline issues in criminal regulation relating to international anti-money laundering (AML) programs. Design/methodology/approach – In the first part, this paper outlines the serious threats posed by transnational laundering...

In the past 10 years a growing number of countries have established or began establishing a primary dealer system. This paper discusses the role of primary dealers, as well as theoretical, operational, and technical issues related to the establishment of a primary dealer system, in the overall...

Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central bank reserves, this limitation would require changes...

The present work is divided into three main parts. Part I aims at providing the proper background against which assessing the recent evolution of the EU anti-money laundering legal framework, by first illustrating the economic menaces posed by the crime at issue and, secondly, by accounting for...

The paper has a two-fold aim: first, it accounts for the legal grounds and evolution of the regulations regarding the mechanisms of international restitution of proceeds from illicit activity. Secondly, it illustrates the main challenges international asset recovery faces and possible solutions...