The functions of anti-money laundering legislation in relation to the efficiency and stability of the financial system and the lowering of systemic risk

Santa D'Innocenzo

Banca Impresa Società, 2014, issue 3, 423-454

Abstract: A massive flow of dirty money can damage the stability and reputation of the financial sector and the risks for the states and the subjects that need to comply with specific legislation, can be exacerbated by being located in some geographical areas, further enhanced in the regions surrounding the enclave states, especially with renard to cross-border movement of money. In the fight against the crime at issue, the importance of a qualified use of the reporting system in the attempt to reduce the systemic risk is still confirmed, but excessive reporting can dilute the information value of report, failing to identify what is truly important.The paper introduces an alternative solution to the problems and the issues raised above, by considering a system of incentives for the reporting agents.

Keywords: AML legislation; systemic risk; reporting activity; liability; incentives. (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:mul:jqmthn:doi:10.1435/79132:y:2014:i:3:p:423-454

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