Follow the money to achieve success: achievable or aspirational

Nicholas Alan McTaggart

Journal of Financial Crime, 2017, vol. 24, issue 3, 425-436

Abstract: Purpose - The purpose of this paper is to highlight the extent to which organised crime and the environment have altered in relation to money laundering and terrorist financing and to explore whether strategies to “follow the money” have been successful. Design/methodology/approach - This paper is based on personal analysis and involvement as a practitioner in law enforcement and includes a broad literature review on the subject of terrorist financing and money laundering. Findings - Money laundering, terrorist financing and economic crime activity are being disguised in the “noise” of business by specialists that have become very adept at their craft. Financial institutions and lawmakers have invested heavily in countering money laundering and terrorist financing. However, its real effectiveness is somewhat doubtful. Originality/value - This paper serves to stimulate further discussion and research on how all actors can increase collaboration and co-operation to increase the effectiveness of disruption strategies associated with these classes of crime.

Keywords: Money laundering; Risk assessment; Terrorist financing; Economic crime (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-03-2017-0022

DOI: 10.1108/JFC-03-2017-0022

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