From crime prevention to norm compliance: anti-money laundering (AML) policy adoption in Singapore from 1989–2021

Rishik Elias Menon

Journal of Money Laundering Control, 2022, vol. 26, issue 1, 69-92

Abstract: Purpose - Policy mobility scholarship concerning anti-money laundering (AML) has typically favoured the study of power structures and interests to the neglect of the constructivist perspective and the local cultural–symbolic driving forces of policy adoption. This study aims to redress this, by analysing the shifting ideational drivers of AML policy in Singapore over the past 31 years through a thematic analysis of Singapore’s parliamentary debates (Hansard). Design/methodology/approach - Through a thematic analysis of Singapore's Hansard over the past 31 years, this study seeks to present a social constructivist perspective of AML policy adoption in Singapore. Findings - The thematic analysis reveals how the internal driving forces of AML policy in Singapore have shifted, from the idea of “crime prevention” in the early 1990s, to the symbolic value of “international norm compliance” by the 2010s. Research limitations/implications - This constructivist perspective of AML policy adoption is particularly useful in complementing the existing materialist theories of AML policy diffusion and allows us to better appreciate the historical nuances of AML policy transfer across the globe. Practical implications - This research will provide a useful comparative case study for other policy mobility scholars interested in presenting a constructivist account of AML policy adoption in different jurisdictions. Originality/value - There is no literature in the field of policy mobility, explaining the diffusion/transfer of AML policy from a social constructivist perspective.

Keywords: Singapore; Crime prevention; Social constructivism; Norm compliance; Anti-money laundering policy; Policy mobility (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-12-2021-0134

DOI: 10.1108/JMLC-12-2021-0134

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