scholarly journals Money laundering, food activities and mafia: evidences from the Italian provinces

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Maria Oliva
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Policy Implications ◽  
Annual Data ◽  
Content Type ◽  
Fixed And Random Effects ◽  
Food And Beverage ◽  
Italian Provinces ◽  
Instrumental Variables Approach ◽  
The Empirical Analysis

Purpose According to the INTERPOL definition, money laundering is: “any act or attempted act to conceal or disguise the identity of illegally obtained proceeds so that they appear to have originated from legitimate sources”. Along this line, the purpose of this paper is to investigate the link amongst money laundering, mafia and food activities, in the Italian provinces. Design/methodology/approach By using annual data over the period 2010 to 2018, the author estimates balanced panel data using the instrumental variables approach. The analysis includes both fixed and random effects, as well as robustness checks. Findings The main findings of this paper reveal that, in most Italian provinces, money launderers are deterred by the probability of being identified. In particular, the deterrent action of police and investigative forces seems to be very effective. Moreover, the results of the empirical analysis show that mafia-type organisations and food activities are positively correlated with money laundering. Originality/value This paper aims to provide a specific study on the link between apparently legal activities (food and beverage) and money laundering; a link that has so far been analysed mainly on a theoretical level. Moreover, it provides several insights in terms of policy implications.

Financial crime, corruption and tax evasion: a cross-country investigation

2018 ◽  
Vol 21 (4) ◽  
pp. 545-554 ◽  
Author(s):  
Ines Amara ◽  
Hichem Khlif
Keyword(s):  
Money Laundering ◽  
Tax Evasion ◽  
Design Methodology ◽  
Positive Relationship ◽  
Policy Implications ◽  
Financial Crime ◽  
Content Type ◽  
Financial Crimes ◽  
Cross Country ◽  
The Relationship

Purpose This paper aims to examine the relationship between the financial crime and tax evasion and tests whether corruption moderates such a relationship. Design/methodology/approach Tax evasion measure is based on Schneider et al. (2010). Financial crime is collected from Basel anti-money laundering (AML) report. Findings Using a sample of 120 countries, the authors find that the level of financial crime is positively associated with tax evasion. When testing for the moderating effect of corruption, they document that the positive relationship between financial crime and tax evasion is more pronounced for high corrupt environments. Originality/value The findings have policy implications for governments aiming to combat tax evasion and financial crimes.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

scholarly journals Sustainability level, corruption and tax evasion: a cross-country analysis

2016 ◽  
Vol 23 (2) ◽  
pp. 328-348 ◽  
Author(s):  
Hichem Khlif ◽  
Achraf Guidara ◽  
Khaled Hussainey
Keyword(s):  
Tax Evasion ◽  
Design Methodology ◽  
Policy Implications ◽  
Content Type ◽  
Global Competitiveness ◽  
Country Analysis ◽  
Cross Country ◽  
The Relationship ◽  
Global Competitiveness Report

Purpose This paper aims to examine the relationship between the level of sustainability and tax evasion and test whether the level of corruption moderates such a relationship. Design/methodology/approach The sample consists of 65 developed and developing countries. Tax evasion is measured using a macro indirect approach used by Schneider et al. (2010). The sustainability level and corruption variables are collected from The Global Competitiveness Report for 2012-2013. Findings This study finds that the level of tax evasion is negatively associated with the level of sustainability (overall score and social and environmental score) and the quality of infrastructure. When we distinguish between low- and high-corruption countries, we find that this negative association is significant for low-corruption countries and insignificant for high-corruption countries. These results imply that the level of corruption may reduce the tendency of individuals in a given state to accept and trust their government in general and comply with the tax rules in particular. Originality/value Our empirical findings have policy implications for governments with high levels of tax evasion, as they highlight the importance of states’ engagements towards their citizens in reducing tax evasion.

South Pacific transnational money laundering typologies

2017 ◽  
Vol 20 (4) ◽  
pp. 345-353 ◽  
Author(s):  
John Chelliah ◽  
Anita Prasad
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Academic Research ◽  
South Pacific ◽  
Pacific Island ◽  
Policy Makers ◽  
Content Type ◽  
Extant Literature ◽  
South Pacific Island ◽  
Pacific Island Nations

Purpose The paper aims to present typologies of transnational money laundering in South Pacific island countries, thereby filling a gap in the extant literature. Design/methodology/approach This paper is based on seven significant transnational money laundering cases involving South Pacific island nations. It provides analyses of the modus operandi of criminals and classifies those according to typologies from anti-money laundering authorities and bodies. Findings Typologies of money laundering have arrived through a content analysis of seven cases involving transnational money laundering destined for South Pacific island nations. The typologies which have emerged show the predominant forms of transnational money laundering in this region. This knowledge could be useful to government policy-makers and financial institutions pursuing anti-money laundering initiatives. Originality/value There is a dearth of academic research into typologies of transnational money laundering involving the South Pacific. This paper makes a useful contribution to the extant literature by providing the most recent typologies in this respect.

Currency risk impact on the financial performance of multilateral banks

2015 ◽  
Vol 13 (1) ◽  
pp. 91-118
Author(s):  
Philip Kamau ◽  
Eno L. Inanga ◽  
Kami Rwegasira
Keyword(s):  
Financial Performance ◽  
Design Methodology ◽  
Regression Coefficient ◽  
Policy Implications ◽  
Stock Exchanges ◽  
Currency Risk ◽  
Content Type ◽  
Regulatory Status ◽  
The Impact ◽  
The Relationship

Purpose – The purpose of this paper is to investigate the impact of currency risks on the financial performance of multilateral banks (MBs). Financial performance is measured here by after-tax accounting profitability or losses. Design/methodology/approach – Quantitative hypothesis regarding the impact of currency risks on the financial performance of MBs was tested by a two-tailed t test for significance of the b regression coefficient. Findings – A regression analysis was done on the total currency risk and financial performance of MBs after taking into account currency risk over eight years. The analysis of variance of the regression of the b coefficient led to non-rejection of the null hypothesis of no association, F(1, 6) = 0.77, p > 0.05. The results of the two-tailed t test on the b regression coefficient suggest that the relationship between currency risk and financial performance is statistically insignificant. Therefore, it was concluded that there is no significant impact of currency risk on the financial performance of MBs. Research limitations/implications – The results of the study can be generalized only for MBs given their peculiar characteristics as wholesale banks, which are owned mainly by governments and are generally not listed on stock exchanges. Originality/value – The study is of value to those interested in the multilateral banking industry. To the authors’ knowledge it is the first study providing empirical evidence on currency risk impact on MBs financial performance. The study finds that the currency risk impact on the financial performance of MBs is insignificant. The results are also useful to managers of MBs in terms of benchmarking their effectiveness in managing currency risk compared to their peers and learn from better performers. It has also policy implications in terms of justifying the current self-regulatory status, shareholder monitoring and governance of MBs as they are not significantly impacted by currency risk as it appears to be effectively managed.

Data mining in anti-money laundering field

2017 ◽  
Vol 20 (3) ◽  
pp. 301-310 ◽  
Author(s):  
Noriaki Yasaka
Keyword(s):  
Data Mining ◽  
Knowledge Management ◽  
Money Laundering ◽  
Design Methodology ◽  
Point Of View ◽  
Important Task ◽  
Content Type ◽  
Suspicious Transaction ◽  
Mining Methods ◽  
The Creation

Purpose This report aims to focus on how suspicious transaction report is created with data mining methods and used from the point of view of knowledge management. Design/methodology/approach This paper considers data mining versus knowledge management in the anti-money laundering (AML) field. Findings In the AML field, the information and knowledge gained are not necessarily used for or shared with the related shareholders. Creating and co-evolving the network of “knowledge professionals” is the impending assignment in this industry. The first and most important task is knowledge management in the global AML field. Originality/value The report considers the creation with data mining methods and utilization from the point of view of knowledge management.

Money laundering in a CBDC world: a game of cats and mice

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Daniel Dupuis ◽  
Kimberly Gleason ◽  
Zhijie Wang
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
Economic Activity ◽  
Design Methodology ◽  
Central Banks ◽  
Content Type ◽  
Digital Currency ◽  
Individual Privacy ◽  
The Impact ◽  
Practical Implications

Purpose The purpose of this study is to describe the present taxonomy of money, summarize potential central bank digital currency (CBDC) regimes that central banks worldwide could adopt and explore the implications of the introduction of each of these CDBC regimes for money laundering through the lens of the regulatory dialectic theory. Design/methodology/approach The methodology used in the analysis of significant recent events regarding the progress of central banks in establishing a CBDC and the implications for money laundering under a CBDC regime. This paper also reviews the literature regarding the Regulatory Dialectic to highlight potential innovative responses of money launderers to circumvent the controls generated through the implementation of a CBDC. Findings This study examines the impact of Kane’s regulatory dialectic paradigm on the feasibility of money laundering under a CBDC regime and identifies potential avenues that would be available for those seeking to launder money, based on the form a CBDC would take. Research limitations/implications This paper is unable as of yet to empirically evaluate anti-money laundering (AML) tactics under a CBDC regime as it has not yet been fully implemented. Practical implications Many central banks worldwide are evaluating the structure of and introduction of a CBDC. There are a number of forms that a CBDC could take, each of which has implications for individual privacy and for entities involved in AML efforts within financial institutions and the regulatory community. The paper has implications for AML experts who are considering how AML procedures would change under a CBDC regime. Social implications The regulatory dialectic predicts that regulatory response reactive, rather than proactive when it comes to socially undesirable phenomena. As central banks and governments seek to divert economic activity away from the laundering of the proceeds of illicit activity, there are tradeoffs in terms of a loss of privacy. The regulatory dialectic predicts a corresponding innovative response of those who wish to undermine the controls generated through the establishment of a CBDC. Originality/value To the authors’ knowledge, this is the first paper to explore the impact of a potential CBDC on money laundering and the potential innovative circumventions within the paradigm of the Regulatory Dialectic.

Appraisal of the regulatory frameworks for combatting money laundering in Nigeria

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Adegboyega Adekunle Ige
Keyword(s):  
Money Laundering ◽  
Financial Institutions ◽  
Design Methodology ◽  
Attorney General ◽  
Securities And Exchange Commission ◽  
Review Of Literature ◽  
Content Type ◽  
Regulatory Frameworks ◽  
Legal Context ◽  
Made In

Purpose A review of literature revealed that many publications on efforts at combatting money laundering focus on two frameworks, namely, legal/legislative and institutional, while overlooking the third and equally important framework – the “regulatory/ supervisory framework.” This paper aims to eradicate the dearth in literature with regards to this third and seldom acknowledged framework and it aims at filling that gap. Design/methodology/approach The analysis took the form of a desk study, which distinguished the three frameworks for combatting money laundering and provided a comprehensive list of the main actors in each regime within the Nigerian legal context. The Money Laundering (Prevention and Prohibition) Act, 2016 was examined in detail. Findings Three categories of regulators were identified and discussed in this paper: the supervisory bodies that regulate the activities of financial institutions, namely, Central Bank of Nigeria, Securities and Exchange Commission and Nigerian Insurance Commission; The Bureau for Money Laundering Control which supervises – designated non-financial institutions and businesses; the Attorney General of the Federation; and (Self-Regulatory Organizations. The Attorney General of the Federation was identified as the prime regulator within the context of the 2016 Act. Suggestions on how the regulators could make the most of their roles were made in the concluding part. Research limitations/implications This paper only considered the Nigerian legal context and only the extant law – the Money Laundering (Prevention and Prohibition) Act, 2016 was critically examined. Originality/value The findings in this paper and the writing approach are original.

“Give it a Try”: experiences of black, Asian and minority ethnic young men in a prison-based offender personality disorder service

2019 ◽  
Vol 21 (1) ◽  
pp. 14-26
Author(s):  
Stephanie Hunter ◽  
Eleanor Craig ◽  
Jake Shaw
Keyword(s):  
Personality Disorder ◽  
Thematic Analysis ◽  
Design Methodology ◽  
Policy Implications ◽  
Future Research ◽  
Content Type ◽  
The Uk ◽  
Minority Ethnic ◽  
Practical Implications ◽  
Insight Into

Purpose Within the current offender personality disorder (OPD) pathway in the UK, black, Asian and minority ethnic (BAME) populations are underrepresented. Fewer BAME offenders are engaging with services despite being proportionately identified for inclusion and referred on to the pathway. The paper aims to discuss this issue. Design/methodology/approach This qualitative study explored the experiences of 11 BAME men engaged in a prison-based OPD service for young offenders to identify the highlights and challenges of engagement within the service and to what extent they experienced a sense of inclusion/belonging. Findings Thematic analysis was used to identify three overarching themes and sub-themes. Why am I going to be an Outcast? describes the barriers to engagement encountered by the participants; and Give it a Try and Nothing but Respect describe the process of overcoming these barriers. Barriers revolved around the experiences of judgement, alienation and hopelessness. These were overcome through peer encouragement, developing relationships with staff and freedom to regulate levels of engagement. Practical implications Practice and policy implications are considered to support similar services in addressing the barriers to engagement faced by BAME individuals. Areas for future research are also recommended. Originality/value Currently, no research has directly explored the under-representation of young BAME offenders with emerging personality disorder in the OPD pathway. The findings provided an insight into some of the difficulties these young BAME offenders faced when accessing this service, alongside aspects which maintained their engagement.

Money laundering control in Tanzania

2019 ◽  
Vol 22 (4) ◽  
pp. 796-835
Author(s):  
Eugene E. Mniwasa
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Case Law ◽  
Legal Framework ◽  
Law And Literature ◽  
Policy Documents ◽  
Content Type ◽  
Enabling Environment ◽  
Banking Institutions ◽  
Political Economic

Purpose This paper aims to examine how banks in Tanzania have been vulnerable to money laundering activities and how the banking institutions have been implicated in enabling or aiding the commission of money laundering offences, and highlights the banks’ failure or inability to prevent, detect and thwart money laundering committed through their financial systems. Design/methodology/approach The paper explores Tanzania’s anti-money laundering law and analyzes non-law factors that make the banks exposed to money laundering activities. It looks at law-related, political and economic circumstances that impinge on the banks’ efficacy to tackle money laundering offences committed through their systems. The data are sourced from policy documents, statutes, case law and literature from Tanzania and other jurisdictions. Findings Both law-related and non-law factors create an enabling environment for the commission of money laundering offences, and this exposes banks in Tanzania to money laundering activities. Some banks have been implicated in enabling or aiding money laundering offences. These banks have abdicated their obligations to fight against money laundering. This is attributed to the fact that the banks’ internal anti-money laundering policies, regulations and procedures are inefficient, and Tanzania’s legal framework is generally ineffective to tackle money laundering offences. Originality/value This paper uncovers a multi-faceted nature of money laundering affecting banks in Tanzania. It is recommended that Tanzania’s anti-money laundering policy should address law-related, political, economic and other factors that create an enabling environment for the commission of money laundering offences. Tanzania’s anti-money laundering law should be reformed to enhance its efficacy and, lastly, banks should reinforce their internal anti-money laundering policies and regulations and policies.

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