Money laundering and bank risk: evidence from US banks

Yener Altunbas, John Thornton and Yurtsev Uymaz

No 19005, Working Papers from Bangor Business School, Prifysgol Bangor University (Cymru / Wales)

Abstract: We test for a link between money laundering and bank risk in US banks. We find that money laundering increases bank risk according to several measures of risk, with the effect on risk only partly mitigated by large and independent executive boards and accentuated by powerful CEOs.

Keywords: Banks; governance; risk; CEO power; boards of directors; institutional investors (search for similar items in EconPapers)
JEL-codes: G20 G21 G34 (search for similar items in EconPapers)
Date: 2019-02
New Economics Papers: this item is included in nep-ban and nep-rmg
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https://www.bangor.ac.uk/business/research/documents/BBSWP-19-05.pdf (application/pdf)

Related works:
Journal Article: Money laundering and bank risk: Evidence from U.S. banks (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:bng:wpaper:19005

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