The Scale and Impacts of Money Laundering

Unger, Brigitte

doi:10.4337/9781781007624

Cited by 125 publications

(110 citation statements)

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“…As for tax evasion there are only sporadic estimates of fraud from individual countries and for particular sorts of fraud (such as credit card fraud, value added tax fraud). Fraud seems to rise over time at least with respect to identity fraud and company fraud (see 30,31). For criticism of the data see Thoumi [29] and the works of Reuter, who in particular heavily criticizes the interpretation of fraud survey data [21,23].…”

Section: Quantifying Predicate Crimesmentioning

confidence: 99%

“…If one calculates the volume identified (150 objects) with the average Dutch housing price of 200,000 Euros, then the identified money laundering is small (30 million Euros) compared to the expected volume of money laundered in this sector in the Netherlands (3-6 billion Euros) [30,31]. However, the study comprises only two middle sized Dutch cities and not the whole Netherlands.…”

Section: Trade Based Money Launderingmentioning

confidence: 99%

“…Most of the studies refer to only one point in time and require updating (see e.g. approaches by [30,31,42,44]). One idea would be to take the trend in Suspicious Activity Reports or Unusual Transaction Reports in order to examine whether money laundering has increased.…”

Section: Money Launderingmentioning

confidence: 99%

“…Though intense internal inquiry within the IMF never could clarify the source of this estimate 5 This is also called the 'balloon effect', see R. Seccombe [27] [44], it became a point of reference. So, money laundering is supposed to amount to about 5% of GDP according to the IMF and the Walker gravity model [42], to more according to Schneider 2000, [25] and Argentiero et al [2] and to much less according to Reuter and Truman [23] who think that measuring is of no use anyway (for a survey see [30][31][32]). Most of the studies refer to only one point in time and require updating (see e.g.…”

Section: Money Launderingmentioning

confidence: 99%

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Water always finds its way: Identifying new forms of money laundering

Unger

Hertog

2012

Crime Law Soc Change

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Money laundering regulations have become stricter over time and involve more and more actors. This means that the accountability of laundering regulation will become more important; theoretically, money laundering should have decreased with the implementation of new regulations. However, as this paper shows, it is difficult to estimate even the sign of the trend in the proceeds of crime and of laundering over time with particular reference to the drug trade. There seems to be a substitution from hard to softer drugs, and no substantial decline in the proceeds of crime and likewise no substantial decline in money laundering. Criminals seem to switch from the more controlled banking sector into still less controlled parts of financial markets, and from financial markets to other sectors. These new sectors include electronic payments, trade and real estate. The paper shows how one can empirically approach the latter two by using economic information of unusual prices and other characteristics in order to identify the amount of laundering in these sectors. Combining economic information with criminological data facilitates the development of a new tool for identifying money laundering in some important sectors.

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Section: Quantifying Predicate Crimesmentioning

confidence: 99%

Section: Trade Based Money Launderingmentioning

confidence: 99%

Section: Money Launderingmentioning

confidence: 99%

Section: Money Launderingmentioning

confidence: 99%

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Water always finds its way: Identifying new forms of money laundering

Unger

Hertog

2012

Crime Law Soc Change

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“…On the other hand, Brigitte Unger (2007Unger ( , 2006, quite strongly defends the research of John Walker, arguing that since the pioneer study of Walker (1994), it is possible to create a framework to measure money laundering per country and worldwide. Furthermore, she argues that Walker's model is a positive example for interdisciplinary work of criminology and economics.…”

Section: Literature Reviewmentioning

confidence: 99%

Money Laundering and Financial Means of Organized Crime: Some Preliminary Empirical Findings

Schneider

2008

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Economics of Security Working Paper SeriesEconomics of Security is an initiative managed by DIW Berlin

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Benefit or burden? An exploratory analysis of the impact of anti‐money laundering regulations on sustainable development in developing economies

Ajide,

Ojeyinka

2023

Sustainable Development

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Over the years, efforts have been put in place to address money laundering activities including financial crime and illicit funding controls. These efforts have been recognized to promote financial integrity and effective governance systems. They have been further adjudged by the United Nations' sustainable development (Goal‐16) with a major concern to achieve peaceful, just and inclusive development. Previous studies reveal that money laundering activities have major implications for economic growth. However, little is known about the main implications of anti‐money laundering (AML) regulations on sustainable development. On this note, this study contributes to the ongoing debate by investigating the relationship between AML regulations and sustainable development in 72 developing economies, consisting 29 upper middle income, 33 low middle income and 10 low income countries. Using instrumental variable generalized method of moment (IV‐GMM), panel quantile estimation technique and dynamic panel threshold analysis, the findings are as follows. First, AML regulations promote sustainable development. Second, the panel quantile regression reveals that countries with moderate AML regulations attain higher sustainable development than those with excessive regulations. Further results on regional analysis show that AML regulations are more effective in Latin America, South Asia, Europe & Central Asia and Middle East & North Africa than in Sub‐Saharan Africa and East Asia & Pacific. These results are robust and stable after conducting a number of robustness analyses. The study suggests that effective AML regulations should be moderate and well‐implemented to further improve economic, social and environmental sustainability in developing countries.

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The Scale and Impacts of Money Laundering

Cited by 125 publications

References 0 publications

Water always finds its way: Identifying new forms of money laundering

Water always finds its way: Identifying new forms of money laundering

Money Laundering and Financial Means of Organized Crime: Some Preliminary Empirical Findings

Benefit or burden? An exploratory analysis of the impact of anti‐money laundering regulations on sustainable development in developing economies

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