IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Anti-Money Laundering by International Institutions:A Preliminary Assessment

Listed author(s):
  • Marco Arnone

    ()

    (Catholic University and CeMaFiR, Milan)

  • Pier Carlo Padoan

    ()

    (Sapienza University of Rome)

Registered author(s):

This paper presents the Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) program introduced at end-2001 at the IMF and WB, in conjunction with the work of the FATF and other regional bodies. It briefly discusses why this can be seen as the birth of a “regime for financial integrity”. For the 20-country sample where detailed information - based on the detailed assessments - is available at end-2006 we find that some areas of the AML/CFT framework are consistently weaker than others in the area of prevention measures. Specifically, we have two findings: the first, positive one, points to a substantial adequacy of the repressive measures; the second, negative one, points to a substantial failure of countries to adopt adequate preventive measures, and calls for renewed efforts to improve implementation of preventive measures across the board, with specific regard to the activity of financial sector regulatory and supervisoryauthorities. Also, Eurozone countries outperform all other groups in the sample. Finally, the program shows some shortcomings; the limited availability of country information and the multiplicity of assessors and methodologies make it difficult to evaluate the performance of the program: available country assessments show highly variable quality and vary widely across countries owing to different assessor institutions. Therefore, we suggest greater transparency and availability of detailed countries’ information, and follow up assessments of the weak areas of a country’s AML/CFT framework at higher frequency than the established 5 years.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.dipecodir.it/upload/wpcidei/pdf/wp74.pdf
Download Restriction: no

Paper provided by Sapienza University of Rome, CIDEI in its series Working Papers with number 74.

as
in new window

Length: 43
Date of creation: Feb 2007
Handle: RePEc:rsp:wpaper:wp74
Contact details of provider: Postal:
Via Del Castro Laurenziano 9, 00161 Roma

Phone: +39 6 49766353
Fax: +39 6 4462040
Web page: http://sapienza.dipecodir.it/

More information through EDIRC

References listed on IDEAS
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.:

as
in new window


  1. Donato Masciandaro, 1999. "Money Laundering: the Economics of Regulation," European Journal of Law and Economics, Springer, vol. 7(3), pages 225-240, May.
  2. Oana M Nedelescu & R. B. Johnston, 2005. "The Impact of Terrorism on Financial Markets," IMF Working Papers 05/60, International Monetary Fund.
  3. Alessandro Gambini & Salim M. Darbar & Marco Arnone, 2007. "Banking Supervision; Quality and Governance," IMF Working Papers 07/82, International Monetary Fund.
  4. Edwin M. Truman & Peter Reuter, 2004. "Chasing Dirty Money: The Fight Against Anti-Money Laundering," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 381, November.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:rsp:wpaper:wp74. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Enrico Mastrostefano)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.