Response to money laundering scandal: evidence-informed or perception-driven?

Ronald F. Pol

Journal of Money Laundering Control, 2020, vol. 23, issue 1, 103-121

Abstract: Purpose - The purpose of this paper is to utilise underused information in anti-money laundering rating data to assist policymaking and research. Design/methodology/approach - This paper explores what evidence “hidden in plain sight” in official anti-money laundering rating data reveals about claims justifying the expansion of money laundering controls in response to European bank scandals. Findings - A perceived lack of international coordination influencing the policy response to a series of alleged anti-money laundering breaches does not accord with the anti-money laundering industry’s own evidence base. Practical implications - Responding to new crises with superficial solutions without addressing fundamental questions with a multi-disciplinary perspective risks repeating and extending a decade-long cycle of ineffectiveness in efforts to mitigate the social and economic harms from profit-motivated crime. Originality/value - This paper draws fresh conclusions from the anti-money laundering industry’s “main” data set, underused in policymaking and research.

Keywords: Evaluation; Anti-money laundering; Outcomes; FATF; Policy effectiveness; Profit-motivated crime (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-01-2019-0007

DOI: 10.1108/JMLC-01-2019-0007

Access Statistics for this article

Journal of Money Laundering Control is currently edited by Dr Li Hong Xing and Prof Barry Rider

More articles in Journal of Money Laundering Control from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().