Combating Money Laundering and the Financing of Terrorism: A Survey
AbstractPolicy programs on anti-money laundering and combating the financing of terrorism (AML/CFT) have largely called for preventive measures like keeping record of financial transactions and reporting suspicious ones. In this survey study, we analyze the extent of global money laundering and terrorist financing and discuss the preventive policies and their evaluations. Moreover, we investigate whether more effective tax information exchange would bolster AML/CFT policies in that it reduced tax evasion, thus the volume of transnational financial flows (i.e. to and from offshore financial centres) and thus in turn cover given to money laundering and terrorist financing. We conclude that such a strategy can reduce financial flows, yet due to a "weakest link problem" even a few countries not participating can greatly undo what others have achieved.
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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Economics of Security Working Paper Series with number 65.
Length: 106 p.
Date of creation: 2012
Date of revision:
money laundering; terrorist financing; tax information exchange;
Find related papers by JEL classification:
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
- H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion
- H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-01 (All new papers)
- NEP-CBA-2012-07-01 (Central Banking)
- NEP-ICT-2012-07-01 (Information & Communication Technologies)
- NEP-IUE-2012-07-01 (Informal & Underground Economics)
- NEP-LAW-2012-07-01 (Law & Economics)
- NEP-MAC-2012-07-01 (Macroeconomics)
- NEP-PBE-2012-07-01 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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