The influence of political stability on financial crime remains a subject of ongoing debate. While stability is often associated with policy continuity, regulatory credibility, and more effective enforcement, an alternative view suggests that unstable democracies may outperform stable...

This paper examines how scam compounds, money mules and crypto-assets operate as interdependent elements of contemporary money-laundering chains. It assesses whether existing anti-money laundering (AML) and crypto-asset regulatory frameworks are capable of disrupting these chains holistically,...

As the global economy undergoes rapid digital transformation, cryptocurrencies have emerged as a prominent alternative class of financial assets. Their decentralized nature, pseudonymity, and lack of centralized oversight have attracted considerable interest among investors while simultaneously...

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 widespread adoption of cryptocurrencies has transformed the financial landscape by enabling swift, decentralised transactions. However, the pseudonymous nature of digital currencies has also fuelled illicit activities, such as money laundering. Criminals perform money laundering to access...

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...

Geldwäsche ist ein transnationales Phänomen. Inkriminierte Vermögenswerte werden über Grenzen hinweg verschoben - gerade im Bereich organisierter Kriminalität gelangen die in einem Staat erzielten Erträge aus kriminellen Aktivitäten regelmäßig ins Ausland, um sie dem Zugriff der...

Money laundering poses a serious threat to financial stability and requires effective national frameworks for prevention. This study investigates how the quality of legal and institutional frameworks affects the effectiveness of national anti-money laundering (AML) systems and their implications...

Among white-collar offenders, processes of neutralization appear to play a crucial role in sustaining both their moral self-concept and their social standing and subsequently play a role in commiting violations of the law. This article explores methods for collecting information on the...

Money laundering enables criminal organizations to integrate illicit funds into the legal economy while evading detection, posing significant challenges for regulators and policymakers. We develop a formal framework to examine criminal organizations' choice between two money laundering methods....

This study explores the role of accountants in anti-money laundering (AML) compliance within Canada's non-banking financial institutions, specifically focusing on the real estate, luxury vehicles, and gaming sectors. By utilizing a unique combination of machine learning (ML) and deep learning...

This paper examines the relationship between money laundering (ML) as well as the shadow economy (SE) with the help of a panel of data from 154 countries, spanning the years 2002 through 2022. The data includes variables about SE, ML and a wide range of socioeconomic and governance indicators...

This study examines the impact of national culture on countries' attractiveness for money laundering using Hofstede's dimensions as independent variables through panel regression analysis. The data has been collected from multiple countries, the study reveals culture as an inherent factor...

Corruption and money laundering are two interlinked phenomena and possess a global threat to multiple global problems range from economic and social issues to crime and terrorism threats. This study aim determines the beneficiaries and sufferers of the notorious nexus, this will provide an...

This study is an attempt to establish a Money Laundering Attractiveness Index (MLAI) for the countries that are preferred for money laundering. The study first discussed the concept of money laundering and also highlighted the size or volume of money laundered we are trying to deal with....

Chapter 1. Introduction -- Chapter 2. The Evolution of the Global AML System -- Chapter 3. Crypto-assets: Technology, Adoption, and Criminal Exploitation -- Chapter 4. Regulating Crypto-assets: AML Systems and Enforcement -- Chapter 5. Socio-Technical Systems Theory in AML Context -- Chapter 6....

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...

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...

This study examines how financial sector development mediates the relationship between digital payments and money laundering. The current study relies on a sample of 120 countries, including both developed and developing economies, for the years 2014, 2017, and 2021. The findings reveal that...

The significance of digitalization due to technological advancements in the modern age is becoming increasingly apparent. However, as a result of the rapid global change, serious concerns arise regarding various aspects of proper digitalization, particularly how to leverage it while avoiding its...

Money laundering is one of the most relevant global challenges, with significant repercussions on the economy and international security. Identifying suspicious transactions is a key element in the fight against the phenomenon, but the task is extremely complex due to the constant evolution of...

The 2024 report builds on the significant achievements and lessons learned in previous years, reflecting the EIB Group's unwavering dedication to combating fraud and corruption. The report gives an overview of the Investigations Division's work to prevent, detect, investigate and remedy...

Are sanctions bypassed by hiding money offshore? Using bilateral data on bank deposits, we compare how offshore deposits from sanctioned versus non-sanctioned countries develop after the U.S. and the EU impose financial sanctions. Sanctions targeting individuals increase offshore deposits, as...

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...

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...