Zur Regulierung von Krypto-Assets sind weitere Schritte unternommen worden. Vor dem G20-Gipfel in Osaka im Juni 2019 hat die Financial Action Task Force einen Leitfaden zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung spezifisch für die Asset- Klasse herausgegeben, während die...

This paper puts into perspective enforcement as conducted by the French Financial Market Authority since its creation in 2003 until 2021 with regards to the current state of the literature on financial crimes. We survey exhaustively the three main channels of action: sanctions, settlements...

We put forward a modern version of the 'developmental' view of government-owned banks which shows that the combination of information asymmetries and weak institutions creates scope for such banks to play a growth-promoting role. We present new cross-country evidence consistent with our...

Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via negative interest rates) or to survey and potentially...

It is often claimed that rewards for whistleblowers lead to fraudulent reports, but for several US programs this was not a major problem. We model the interaction between rewards for whistleblowers, sanctions against fraudulent reporting, judicial errors and standards of proof in the court case...

Whistleblower rewards have been used extensively in the US to limit procurement fraud and tax evasion, and their use has been extended to fight financial fraud after the recent financial crisis. In Europe there is currently a debate on their possible introduction, but authorities appear...

Bitcoin und andere virtuelle Währungen erfahren eine wachsende Bedeutung. Sie sind kein Geld, aber werden von einem größer werdenden Nutzerkreis als Zahlungsmittel und Vermögensanlage verwendet. Notenbanken und Aufsichtsbehörden haben aber Risiken identifi ziert und sehen...

As in many other sectors of EU economies, 'artificial intelligence' (AI) has entered the scene of the financial services industry as a game-changer. Trading on capital markets is undoubtedly one of the most promising AI application domains. A growing number of financial market players have in...

Staatliche Banken können eine wichtige Rolle bei der Sicherung der Funktionsfähigkeit von Finanzsystemen und für die gesamtwirtschaftliche Entwicklung spielen. Dies gilt offenbar vor allem dann, wenn die Bankenregulierung schwach ist und Banken nicht ausreichend überwacht werden. Die...