Financial institutions and money laundering: A threatening relationship?
Erin Lawlor-Forsyth () and
M. Michelle Gallant ()
Journal of Banking Regulation, 2018, vol. 19, issue 2, 131-148
Abstract Money laundering control is a complicated exercise that is not particularly well served by unequivocal assertions about its pernicious impacts. Drawing on the legendary demise of the Bank of Commerce and Credit International and four modern American tales of disciplinary action, this paper examines the threatening relationship between money laundering and financial institutions. Located in the context of the evolution of money laundering regulation, the examination finds that neither of the factual narratives confirm that money laundering necessarily harms banks. Having identified an ambivalent relationship, the paper recommends enhanced focus on individual liability as a locus for the control of money laundering.
Keywords: Money laundering; Banking; Regulation; Criminal liability; Civil liability; Crime; Financial institutions; Collapse; Threat (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1057/s41261-017-0041-4 Abstract (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pal:jbkreg:v:19:y:2018:i:2:d:10.1057_s41261-017-0041-4
Ordering information: This journal article can be ordered from
Access Statistics for this article
Journal of Banking Regulation is currently edited by Dalvinder Singh
More articles in Journal of Banking Regulation from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla ().