In this paper, we investigate the impact of religion on the money laundering risk, focusing specifically on Protestantism compared to other religions. Protestantism is often associated with greater individual self-discipline and stronger institutional economic governance. Analysing data from 27...

Approximately sixty percent of German goods exports are transported via sea freight. The international shipping industry is dominated by firms registered in offshore centers with little transparency. Criminals feel invited to abuse these opaque constructions for laundering their illegally...

The last five years have seen immense growth in the Nigerian financial services sphere, particularly with the introduction of innovative ways to make, trade and exchange money in a largely unregulated sphere. One of such developments is virtual assets which has opened up a lot of doors in the...

The banking sector of three Baltic countries, i.e., Lithuania, Latvia and Estonia, was abused by money laundering scandals between 2018 and 2020. The Danske Bank scandal was the largest one and, combined with the other scandals, inevitably triggered a heavy critique of national anti-money...

The United Kingdom's (UK) property markets are thought to be a common destination for corrupt and criminal assets and money laundering, with investment often through offshore shell companies. Following the Russian invasion of Ukraine in 2022, we study the impact of the introduction of a policy...

Digital credit has gained much attention from academic researchers, practitioners, and policymakers worldwide. This study empirically evaluates the determinants of digital credit using cross-country data from 2013 to 2019. The conventional ordinary least square regression with fixed effects...

Approximately sixty percent of German goods exports are transported via sea freight. The international shipping industry is dominated by firms registered in offshore centers with little transparency. Criminals feel invited to abuse these opaque constructions for laundering their illegally...

The rapid evolution of global trade offers great productivity gains to participating countries but also raises the likelihood of losing domestic resources through trade-based money laundering. This paper empirically examined whether trade-based money laundering affects domestic resource...

Shell companies can be a legitimate entity but can also been used for illicit activities such as money laundering. Users of shell companies have included illegal arms dealers, drug cartels, terrorists and cyber-criminals, as well as legitimate businesses. To assist in distinguishing between...

This paper examines the role of anti-money laundering (AML) regulations and compliance in combating money laundering and terrorist financing (ML/TF) in Canada. AML regulations establish guidelines for financial institutions to identify, prevent, and report suspicious activities. However,...

The rise in the volume of Illicit Financial Flows (IFFs) across the world is triggering calls from the Global South to mitigate the deleterious consequences of both IFFs and tax abuse on their economies. Using a Third World Approaches to International Law lens, this article analyses the politics...

Africa is one of the fastest-growing crypto markets in the world, with its crypto transactions peaking at $20 billion per month in mid-2021, with Nigeria contributing to the world's third largest bitcoin-holding. Evidence continues to grow, showcasing criminals who seek to use cryptocurrencies...

Environmental crime, ranked as the fourth-largest criminal enterprise after drug trafficking, counterfeiting, and human trafficking, encompasses illegal activities such as mineral extraction, land clearance, and waste trafficking. These crimes are closely linked to financial crimes due to their...

This paper analyses the legal frameworks in Kenya and Uganda, and the Financial Action Task Force (FATF) guidelines to ascertain if they are effective in minimising money laundering activities and keeping the countries off of FATF's grey list. The study implements the Two-Pillar methodology that...

The low conviction rate for money laundering, particularly in corruption cases, stems from the technical language of the ML law and the challenges of proving mens rea for ML perpetrators. This paper examines Indonesian corruption cases from 2017 to 2021 and finds that the conviction rate for ML...

This article delves into the transition from traditional tax havens to a new generation of digital jurisdictions powered by blockchain technology. It examines how blockchain wallets and decentralized exchanges are redefining financial sovereignty by offering anonymity, asset protection, and...

This study investigates the impact of corporate governance mechanism on money laundering operations in publicly listed firms in Nigeria, emphasising the efficacy of governance measures and the mediating function of internal audits. The study employed purposive sampling to analyse 177 firms...

Criminal finances, together with money laundering and asset recovery, are central to many forms of organised crime. In recognition of this, the priorities of the European Multidisciplinary Platform Against Criminal Threats (EMPACT)1 on fraud, and economic and financial crimes put emphasis on the...

The objective of anti-money laundering (AML) programs is to disrupt the financial infrastructure of criminal organizations, thereby seizing illicit assets and curbing the expansion of these criminal activities. This paper assesses the effectiveness of AML programs in curbing three distinct forms...

This paper aims to assess the effect of corporate governance mechanisms, including board members’ and audit committee members’ characteristics, particularly their independence, expertise in terms of finance and industry and efforts on the level of fraud and money laundering (ML) in financial...

Money laundering is the process of hiding or disguising the unlawful origin of property and hiding or disguising the true nature, origin, source, location, disposal, ownership or title of property. In other words, money laundering means "laundering" dirty money until it becomes clean. Corrupt...

This paper aims to assess the effect of corporate governance mechanisms, including board members' and audit committee members' characteristics, particularly their independence, expertise in terms of finance and industry and efforts on the level of fraud and money laundering (ML) in financial...

This paper is a systematic attempt to establish the effect of anti-money laundering (AML) systems on FDI flows across the globe. Complex and related hypotheses are tested using data from 2012 to 2018 across 165 economies across different continents, income levels, and regulatory environments....

Money laundering is one of the most important criminal offences today, perceived in thecontext of economic operation. Nevertheless, money laundering is a constantly changingphenomenon that is also influenced by the latest technological advancements. In this study,our aim is, after briefly...

Tighter money-laundering regulations in offshore financial havens may inadvertently spur incentives to launder money domestically. Our study exploits regulations targeting financially based money laundering in Caribbean jurisdictions to uncover the creation of front companies in the United...