Money laundering and terrorist financing risks and democratic governance: a global correlational analysis

Amidu Kalokoh

Journal of Money Laundering Control, 2024, vol. 27, issue 5, 825-844

Abstract: Purpose - This paper aims to examine the association between money laundering (ML)/terrorist financing (TF) risks (hereafter, money laundering risks) and democratic governance across 117 countries. Design/methodology/approach - A cross-sectional design was used to examine the association between ML risks and democratic governance by a quantitative approach. The findings are based on annual ratings of 117 countries on ML/TF risks and democracy while controlling for criminality and peace. The data was compiled from the Basel Anti-Money Laundering/Countering Financing Terrorism Risks Index, the Economic Intelligence Unit (Democracy Index), the Global Initiative against Transnational Organized Crimes (Criminality Index) and the Institute for Economics and Peace Index for 2020. Findings - A multiple linear regression model found a statistically significant negative association between democratic governance and ML risks (B= −0.354,t= −7.454,p=

Keywords: Democracy; Money laundering; Anti-money laundering; Financing terrorism (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-09-2023-0151

DOI: 10.1108/JMLC-09-2023-0151

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