Money laundering in the jewellery business

Fabian Maximilian Johannes Teichmann

Journal of Money Laundering Control, 2020, vol. 23, issue 3, 691-697

Abstract: Purpose - This paper aims to illustrate how white-collar criminals launder money in the jewellery business. Design/methodology/approach - Semi-structured interviews were conducted with 50 white-collar criminals and 50 compliance and prevention experts in Austria, Germany, Liechtenstein and Switzerland. Following the qualitative content analysis of their responses, a quantitative survey of 200 compliance officers was then conducted in the same geographical area. These two methods reveal the concrete techniques used by money launderers and the compliance industry’s (lack of) awareness. Findings - The jewellery business is susceptible to laundering money. It facilitates both the placement and layering of incriminated assets. Research limitations/implications - As the findings of the qualitative study are based on semi-standardised interviews, they are limited to the 100 interviewees’ perspectives. Practical implications - The identification of concrete methods of money laundering provides valuable insight into criminal activity for compliance officers, law enforcement agencies and legislators. A more profound understanding of the methods used by criminals should foster more effective crime prevention. Originality/value - While prior literature predominantly focusses on the organisations and mechanisms aimed at fighting money laundering, this paper considers how criminals avoid detection by exploring both prevention experts’ and criminals’ perspectives.

Keywords: Money Laundering; Jewellery; Compliance (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

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-03-2018-0020

DOI: 10.1108/JMLC-03-2018-0020

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 ().