Hardback
Research Handbook on Money Laundering
Although the practice of disguising the illicit origins of money dates back thousands of years, the concept of money laundering as a multidisciplinary topic with social, economic, political and regulatory implications has only gained prominence since the 1980s. This groundbreaking volume offers original, state-of-the-art research on the current money laundering debate and provides insightful predictions and recommendations for future developments in the field.
More Information
Contributors
Contents
More Information
Although the practice of disguising the illicit origins of money dates back thousands of years, the concept of money laundering as a multidisciplinary topic with social, economic, political and regulatory implications has only gained prominence since the 1980s. This groundbreaking volume offers original, state-of-the-art research on the current money laundering debate and provides insightful predictions and recommendations for future developments in the field.
The contributors to this volume – academics, practitioners and government representatives from around the world – offer a number of unique perspectives on different aspects of money laundering. Topics discussed include the history of money laundering, the scale of the problem, the different types of money laundering, the cost to the private sector, and the effectiveness of anti-money laundering policies and legislation. The book concludes with a detailed and insightful synthesis of the problem and recommendations for additional steps to be taken in the future.
Students, professors and practitioners working in economics, banking, finance and law will find this volume a comprehensive and invaluable resource.
The contributors to this volume – academics, practitioners and government representatives from around the world – offer a number of unique perspectives on different aspects of money laundering. Topics discussed include the history of money laundering, the scale of the problem, the different types of money laundering, the cost to the private sector, and the effectiveness of anti-money laundering policies and legislation. The book concludes with a detailed and insightful synthesis of the problem and recommendations for additional steps to be taken in the future.
Students, professors and practitioners working in economics, banking, finance and law will find this volume a comprehensive and invaluable resource.
Contributors
Contributors: H. Addink, A. Argentiero, M. Bagella, R.W. Baker, J. Biggins, J. Brettl, A. Buehn, F. Busato, P. Costanzo, S. Dawe, I. Deleanu, J. Ferwerda, L. Groot, T. Krieger, M. Levi, D. Masciandaro, K.J. McCarthy, D. Meierrieks, B. Mühl, E. Nowotny, T. Pietschmann, P. Reuter, F. Schneider, M. Stouten, A. Tilleman, L. Tromp, B. Unger, M. van den Broek, D. van der Linde, P.C. van Duyne, V. van Kommer, J. van Koningsveld, I. van Rossum, F. van Waarden, J. Vervaele, B. Vettori, J. Walker, M. von und zu Liechtenstein, J.S. Zdanowicz
Contents
Contents:
Preface
Brigitte Unger and Daan van der Linde
PART I: INTRODUCTION
1. Introduction
Brigitte Unger
PART II: THE HISTORY OF MONEY LAUNDERING
2. Money Laundering Regulation: From Al Capone to Al Qaeda
Brigitte Unger
PART III: THE PROBLEM
3. The Effects of Money Laundering
Joras Ferwerda
4. Money Laundering and its Effects on Crime: A Macroeconomic Approach
Donato Masciandaro
5. Money Laundering, Drugs and Prostitution as Victimless Crimes
Loek Groot
6. The Costs of Fraud
Michael Levi
7. Terrorism: Causes, Effects and the Role of Money Laundering
Tim Krieger and Daniel Meierrieks
PART IV: WHO IS THREATENED BY LAUNDERING ACTIVITIES?
8. Measuring Money Laundering Threat
Jakub Brettl
9. Conducting National Money Laundering or Financing of Terrorism Risk Assessment
Stephen Dawe
10. Why Do Some States Tolerate Money Laundering? On the Competition for Illegal Money
Killian J. McCarthy
11. Money Laundering and Small States: The Practical Experience of Liechtenstein
Prince Michael von und zu Liechtenstein
12. The Role of Small States for Financial Market Integrity: Austria
Ewald Nowotny
PART V: THE SCALE OF THE PROBLEM
13. Measuring Global Money Laundering: The ‘Walker Gravity Model’
John Walker and Brigitte Unger
14. A Preliminary Attempt to Estimate the Financial Flows of Transnational Crime Using the MIMIC Method
Andreas Buehn and Friedrich Schneider
15. The Scale of the Global Financial Structure Facilitating Money Laundering
Raymond W. Baker
16. Efforts of the UN to Find Out About Major Routes of Drugs and Drug Money
Thomas Pietschmann
17. Using Dynamic Macroeconomics for Estimating Money Laundering: A Simulation for the EU, Italy and the United States
Michele Bagella, Francesco Busato and Amedeo Argentiero
18. Are Estimates of the Volume of Money Laundering Either Feasible or Useful?
Peter Reuter
19. Crime-Money and Financial Conduct
Petrus C. van Duyne
PART VI: WAYS TO LAUNDER
20. International Trade Mispricing: Trade-based Money Laundering and Tax Evasion
John S. Zdanowicz
21. Detecting Money Laundering in the Real Estate Sector
Joras Ferwerda and Brigitte Unger
22. Cash Economy, Measuring the Tax Gap from the Tax Administrative Perspective
Victor van Kommer
23. Is the Netherlands a Tax (H)eaven?
Lotte Tromp, Iris van Rossum, Andreas Buehn and Victor van Kommer
24. Dirty Complexity: Money Laundering through Derivatives
John Biggins
25. E-gaming, Money Laundering and the Problem of Risk Assessment
Michael Levi
PART VII: LEGISLATION OF MONEY LAUNDERING
26. The Risk-based Approach to Anti-Money Laundering and Counter-Terrorist Financing in International and EU Standards: What it is, What it Entails
Paolo Costanzo
27. Prevention of Money Laundering and Terrorist Financing from a Good Governance Perspective
Melissa van den Broek and Henk Addink
28. Economic Crimes and Money Laundering: A New Paradigm for the Criminal Justice System?
John Vervaele
PART VIII: IMPLEMENTATION AND EFFECTIVENESS OF AML
29. How to Dodge Drowning in Data? Rule- and Risk-based Anti-Money Laundering Policies Compared
Brigitte Unger and Frans van Waarden
30. Reporting Duty for Lawyers versus Legal Privilege – Unresolved Tension
Maaike Stouten and André Tilleman
31. Money Laundering – ‘You Don’t See It, Until You Understand It’: Rethinking the Stages of the Money Laundering Process to Make Enforcement More Effective
Jan van Koningsveld
32. Access by Law Enforcement Agencies to Financial Data
Burkhard Mühl
33. The Role of Information for Successful AML Policy
Ioana Deleanu
34. Evaluating Anti-Money Laundering Policies: Where Are We?
Barbara Vettori
Index
Preface
Brigitte Unger and Daan van der Linde
PART I: INTRODUCTION
1. Introduction
Brigitte Unger
PART II: THE HISTORY OF MONEY LAUNDERING
2. Money Laundering Regulation: From Al Capone to Al Qaeda
Brigitte Unger
PART III: THE PROBLEM
3. The Effects of Money Laundering
Joras Ferwerda
4. Money Laundering and its Effects on Crime: A Macroeconomic Approach
Donato Masciandaro
5. Money Laundering, Drugs and Prostitution as Victimless Crimes
Loek Groot
6. The Costs of Fraud
Michael Levi
7. Terrorism: Causes, Effects and the Role of Money Laundering
Tim Krieger and Daniel Meierrieks
PART IV: WHO IS THREATENED BY LAUNDERING ACTIVITIES?
8. Measuring Money Laundering Threat
Jakub Brettl
9. Conducting National Money Laundering or Financing of Terrorism Risk Assessment
Stephen Dawe
10. Why Do Some States Tolerate Money Laundering? On the Competition for Illegal Money
Killian J. McCarthy
11. Money Laundering and Small States: The Practical Experience of Liechtenstein
Prince Michael von und zu Liechtenstein
12. The Role of Small States for Financial Market Integrity: Austria
Ewald Nowotny
PART V: THE SCALE OF THE PROBLEM
13. Measuring Global Money Laundering: The ‘Walker Gravity Model’
John Walker and Brigitte Unger
14. A Preliminary Attempt to Estimate the Financial Flows of Transnational Crime Using the MIMIC Method
Andreas Buehn and Friedrich Schneider
15. The Scale of the Global Financial Structure Facilitating Money Laundering
Raymond W. Baker
16. Efforts of the UN to Find Out About Major Routes of Drugs and Drug Money
Thomas Pietschmann
17. Using Dynamic Macroeconomics for Estimating Money Laundering: A Simulation for the EU, Italy and the United States
Michele Bagella, Francesco Busato and Amedeo Argentiero
18. Are Estimates of the Volume of Money Laundering Either Feasible or Useful?
Peter Reuter
19. Crime-Money and Financial Conduct
Petrus C. van Duyne
PART VI: WAYS TO LAUNDER
20. International Trade Mispricing: Trade-based Money Laundering and Tax Evasion
John S. Zdanowicz
21. Detecting Money Laundering in the Real Estate Sector
Joras Ferwerda and Brigitte Unger
22. Cash Economy, Measuring the Tax Gap from the Tax Administrative Perspective
Victor van Kommer
23. Is the Netherlands a Tax (H)eaven?
Lotte Tromp, Iris van Rossum, Andreas Buehn and Victor van Kommer
24. Dirty Complexity: Money Laundering through Derivatives
John Biggins
25. E-gaming, Money Laundering and the Problem of Risk Assessment
Michael Levi
PART VII: LEGISLATION OF MONEY LAUNDERING
26. The Risk-based Approach to Anti-Money Laundering and Counter-Terrorist Financing in International and EU Standards: What it is, What it Entails
Paolo Costanzo
27. Prevention of Money Laundering and Terrorist Financing from a Good Governance Perspective
Melissa van den Broek and Henk Addink
28. Economic Crimes and Money Laundering: A New Paradigm for the Criminal Justice System?
John Vervaele
PART VIII: IMPLEMENTATION AND EFFECTIVENESS OF AML
29. How to Dodge Drowning in Data? Rule- and Risk-based Anti-Money Laundering Policies Compared
Brigitte Unger and Frans van Waarden
30. Reporting Duty for Lawyers versus Legal Privilege – Unresolved Tension
Maaike Stouten and André Tilleman
31. Money Laundering – ‘You Don’t See It, Until You Understand It’: Rethinking the Stages of the Money Laundering Process to Make Enforcement More Effective
Jan van Koningsveld
32. Access by Law Enforcement Agencies to Financial Data
Burkhard Mühl
33. The Role of Information for Successful AML Policy
Ioana Deleanu
34. Evaluating Anti-Money Laundering Policies: Where Are We?
Barbara Vettori
Index
