Preventing Money Laundering and Terrorism Financing

Chatain, Pierre-Laurent; McDowell, John; Mousset, Cedric; Schott, Paul Allan; Does, Emile Van der

doi:10.1596/978-0-8213-7912-7

Cited by 15 publications

(7 citation statements)

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“…The debate related to the methods used by terrorists actually hides another debate: legal ways of financing terrorism do exist. Researchers have discovered major issues after econometric analysis of the relationship between money laundering and terrorist financing (Chatain, Herndez‐Coss, Borowik, & Zerzan, 2008; Chatain, McDowell, Mousset, Schott, & van der Does, 2009; De Koker, 2006). Ouédraogo (2017) shows in a survey conducted over the period from 1999 to 2007 in 10 West African countries, that money laundering rates are higher than 1% of GDP.…”

Section: Introductionmentioning

confidence: 99%

The impact of terrorism on formal and informal economy in African countries

2020

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This study examines the impact of terrorist attacks on the formal and informal economy for 47 African countries during the period 1996–2015. Four terrorism indicators are used, namely, domestic, transnational, uncertain and total terrorism. The empirical results are based on the two‐step Generalized Method of Moments in system. Three key findings are established. First, all terrorist indicators affect negatively the formal economy and positively the informal economy. This effect may be due not only to the size and maturity of the African economy, but also to the adoption of less conservative public policies. Second, an aggregate analysis identifying the impact of terrorism on various macroeconomic variables sheds light on the impact of terrorism on the overall situation of the African economy. Third, compared to domestic terrorism, transnational terrorism more significantly and negatively affects the formal economy and positively affects the informal economy. Political implications are discussed.

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Section: Introductionmentioning

confidence: 99%

The impact of terrorism on formal and informal economy in African countries

2020

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“…Elusiveness relates to the ability of the individual to disguise mobile transaction totals, origins and destinations (Chatain et al, 2009). This is an inherent risk relating to the general characteristics of fraud with the aim of evading detection.…”

Section: Elusivenessmentioning

confidence: 99%

Anti-money laundering and counter-terrorist financing threats posed by mobile money

Whisker

Lokanan

2019

JMLC

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Purpose The purpose of this paper is to explore the various characteristics of mobile money transactions and the threats they present to anti-money laundering (AML) and counter terrorist financing regimes. Design/methodology/approach A thorough literature review was conducted on mobile money transactions and the associated money-laundering and terrorist financing threats. Four key themes were identified in relations to the three stages of money laundering and effective law enforcement. Findings The findings indicate that as money laundering and terrorist financing transactions continue to gravitate towards the weaknesses in the financial system, mobile money provides yet another avenue for criminals to exploit. Risk factors associated with anonymity, elusiveness, rapidity and lack of oversights were all integral considerations in building an effective AML regime. The use of cash is considered a higher threat than mobile money prior to implementation of systems and controls. Practical implications This rapidly changing environment of how individuals manage their money during transactions is set to further explode globally, which poses new problems for regulators and governments alike. Unless there is a unified concentration to heighten global awareness, the imposing threat of mobile money is set to increase at a rapid rate if appropriate actions are not taken. Originality/value The findings from this study can be used to gain greater insights on mobile money transactions and raise further awareness of the ever-increasing threat to global financial integrity.

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“…En relación a la guía formulada por la UIF, existen estudios que proponen estándares de acuerdo a los importes que un cliente puede presentar a las instituciones bancarias (Chatain, P;J McDowell;), la localización geográfica en donde surjan estos depósitos, actividades comerciales que se hubiesen argumentado y hasta antecedentes bancarios y financieros (Albanese, 2012;, sin embargo estas propuestas, al igual que el Modelo de Evaluación y Riesgo de la UIF (Unidad de Inteligencia Financiera -SHCP, 2012), contemplan parámetros que por una parte son específicos al analizar el caso de determinados clientes pero, por otra parte, no se llega a identificar los atributos que presente todo el fenómeno del lavado de dinero en sectores económicos y demarcaciones geográficas distintas.…”

Section: Esfuerzos Normativos Mexicanosunclassified

Expectativas para operaciones financieras en los Sectores Vulnerables mediante Matrices de Transición

Puls

Pacheco

2017

REMEF

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ResumenEl objetivo general es estimar escenarios para el volumen de operaciones que puedan presentarse en Sectores Vulnerables, susceptibles de recibir operaciones financieras ilícitas. El método empleado son las matrices estocásticas también denominadas de transición, en virtud de haber demostrado eficacia en la prevención de riesgo financiero, los resultados permitieron conocer el volumen de operaciones que podrían ser reportadas para un período de hasta 36 meses posterior a la información histórica a septiembre del 2014. Como parte de los análisis estocásticos, los resultados aportan elementos para que la inteligencia financiera pueda analizar con mayor profundidad a ciertos sectores hasta confirmar o no la procedencia ilícita. El método no había sido empleado hasta ahora para la estimación de operaciones con recursos de procedencia ilícita.Clasificación JEL: F38, G18, G28, M48. Palabras clave: Sectores vulnerables, Recursos de procedencia ilícita, Matrices de transición. Expectations for financial operations done through Transition Matrices in the Vulnerable Sectors AbstractThe general objective of this work is to estimate the scenarios for the volume of operations that could emerge in Vulnerable Sectors, susceptible to illicit financial operations. The methods used are the stochastic matrices, also known as transition matrices, as they have demonstrated to be efficient in the prevention of financial risk. The results allowed for the understanding of the volume of operations that could be reported for a period of up to 36 months after the historical data until September 2014. As part of the stochastic analyses, the results provide elements for the financial intelligence to further analyze certain sectors until confirming illicit precedence. The method had not been used for the estimation of operations with illegally obtained resources.JEL Classification: F38, G18, G28, M48.

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Preventing Money Laundering and Terrorism Financing

Cited by 15 publications

References 0 publications

The impact of terrorism on formal and informal economy in African countries

The impact of terrorism on formal and informal economy in African countries

Anti-money laundering and counter-terrorist financing threats posed by mobile money

Expectativas para operaciones financieras en los Sectores Vulnerables mediante Matrices de Transición

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