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Organized crime, suspicious transaction reporting and anti-money laundering regulation

Author

Listed:
  • Lucia dalla Pellegrina
  • Giorgio Di Maio
  • Donato Masciandaro
  • Margherita Saraceno

Abstract

This study investigates the efficiency of suspicious transaction reporting activity to a financial intelligence unit as a means to deter money laundering. Baseline and two-province theoretical models are used to frame the empirical analysis. The latter examines the relationship between suspicious transaction reporting and the vulnerability of Italian provinces to money laundering from 2009 to 2013. Instrumental variables and spatial analysis are exploited to identify the role of suspicious transaction reporting on vulnerability. The results provide a positive assessment of the risk-based mechanism of reporting suspicious operations to the financial intelligence unit, although ‘congestion’ problems from overreporting are observed.

Suggested Citation

  • Lucia dalla Pellegrina & Giorgio Di Maio & Donato Masciandaro & Margherita Saraceno, 2020. "Organized crime, suspicious transaction reporting and anti-money laundering regulation," Regional Studies, Taylor & Francis Journals, vol. 54(12), pages 1761-1775, December.
    • Handle: RePEc:taf:regstd:v:54:y:2020:i:12:p:1761-1775
    DOI: 10.1080/00343404.2020.1772963
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    Cited by:

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    2. Lucia Dalla Pellegrina & Giorgio Di Maio & Donato Masciandaro & Margherita Saraceno, 2020. "Are Bankers "Crying Wolf"? The Risk-Based Approach to Money-Laundering Regulation and its Effects," Working Papers 444, University of Milano-Bicocca, Department of Economics, revised Feb 2021.

    More about this item

    JEL classification:

    • K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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