Payback time? To what extent has the new policing of assets provided new assets for policing?

Peter A. Sproat

Journal of Money Laundering Control, 2009, vol. 12, issue 4, 392-405

Abstract: Purpose - The purpose of this paper is to identify the extent to which the “new policing of assets” has produced new assets for policing in the UK. Design/methodology/approach - This is achieved by producing an estimate of both the financial benefits and costs to the public purse based upon official documentation where possible. Findings - Asset recovery and anti‐money laundering work has produced some assets to be used for policing, but even using a conservative methodology it is unlikely to have produced a financial benefit which is much more than its costs, indeed the costs are likely to have been greater. Research limitations/implications - Many parts of the cost are estimates; therefore, researchers are encouraged to ascertain the exact costs. Practical implications - Of interest to those interested in the costs of government policies and regulations, especially the regulated sector burdened by the costs of complying with the money laundering legislation. Originality/value - The paper attempts to fulfill the government's desire to improve the quality of the cost‐benefit analyses of the money laundering regime.

Keywords: Assets; Money laundering; Legislation; Cost benefit analysis; Policing; United Kingdom (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:13685200910996074

DOI: 10.1108/13685200910996074

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