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The Economic and Legal Effectiveness of the European Union’s Anti-Money Laundering Policy
Official government policies against money laundering in the EU have been in place for roughly 25 years, after much concerted effort and a great deal of time and money invested. This volume examines the anti-money laundering policy of the EU Member States in connection to the threat of money laundering they face.
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Contents
More Information
Official government policies against money laundering in the EU have been in place for roughly 25 years, after much concerted effort and a great deal of time and money invested. This volume examines the anti-money laundering policy of the EU Member States in connection to the threat of money laundering they face.
During a three-year study the authors analysed the policies in-depth by travelling to 27 Member States to interview over a hundred people involved in the fight against money laundering. The analysis includes an inquiry into the national supervisory architectures, a comparison of the definitions of money laundering used in practice, a breakdown of the role of Financial Intelligence Units and a cost–benefit analysis of anti-money laundering policy.
Skilfully assessing the economic and legal effectiveness of anti-money laundering efforts in the EU, this comprehensive study will appeal to students, scholars and practitioners working in economics, banking, finance and law.
During a three-year study the authors analysed the policies in-depth by travelling to 27 Member States to interview over a hundred people involved in the fight against money laundering. The analysis includes an inquiry into the national supervisory architectures, a comparison of the definitions of money laundering used in practice, a breakdown of the role of Financial Intelligence Units and a cost–benefit analysis of anti-money laundering policy.
Skilfully assessing the economic and legal effectiveness of anti-money laundering efforts in the EU, this comprehensive study will appeal to students, scholars and practitioners working in economics, banking, finance and law.
Contents
Contents: 1. Introduction and Operationalization 2. Threat of Money Laundering 3. Harmonization of Substantive Norms in Preventative AML 4. Implementing International Conventions and the Third EU Directive 5. Supervisory Architectures in the Preventive AML Policy 6. Definitions of Money Laundering in Practice 7. FIU’s in the European Union – Facts and Figures, Functions and Facilities 8. Information Flows and Repressive Enforcement 9. International Cooperation 10. Collection of Statistics 11. Effectiveness: Threat and Corresponding Policy Response 12. Cost–Benefit Analysis 13. Summary and Conclusions
