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Effect of cultural tightness-looseness on money laundering: a cross-country study

Author

Listed:
  • Mariem Mejri
  • Hakim Ben Othman
  • Basiem Al-Shattarat
  • Kais Baatour

Abstract

Purpose - The purpose of this interdisciplinary cross-country study is to investigate the influence of cultural tightness-looseness on money laundering. Design/methodology/approach - The authors rely on tightness-looseness theory as the basis for their predictions. The authors use the Basel Anti Money Laundering Index to operationalize financial crimes. They use dynamic panel data regressions spanning from 2012 to 2018 across 66 countries. Findings - The authors find a positive and significant effect of national culture on money laundering financial crime. This suggests that financial crimes increase in countries with higher levels of cultural looseness orientation. Moreover, the authors show that the absence of violence, control of corruption, political stability and voice and accountability has a significant and negative influence on money laundering financial crime. Practical implications - Formal institutional factors are not the only factors that can help curb financial crimes, but policy regulators should also consider the degree of cultural tightness-looseness. Originality/value - To the best of authors’ knowledge, this is the first research ever to examine the effects of cultural tightness-looseness on the level of financial crimes.

Suggested Citation

  • Mariem Mejri & Hakim Ben Othman & Basiem Al-Shattarat & Kais Baatour, 2021. "Effect of cultural tightness-looseness on money laundering: a cross-country study," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 25(2), pages 414-426, June.
    • Handle: RePEc:eme:jmlcpp:jmlc-03-2021-0025
    DOI: 10.1108/JMLC-03-2021-0025
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    More about this item

    Keywords

    Anti-money laundering; Financial crimes; Cultural tightness and looseness; National culture; Cross-country study; M41; M48;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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