Money Laundering Blacklists
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Author | : Michele Riccardi |
Publisher | : |
Total Pages | : |
Release | : 2022 |
Genre | : Corruption |
ISBN | : 9781032080857 |
Download Money Laundering Blacklists Book in PDF, Epub and Kindle
"What are the criteria used by FATF and the European Union to blacklist jurisdictions at high-risk of money laundering? What are the countries at highest risk according to Panama Papers and FinCEN files? Where do criminals move their illicit money, according to judicial and investigative evidence? This book answers these questions. It is an unprecedented study on the countries at highest risk of attracting money laundering and organised crime proceeds - and how they are identified as such by scholars, policy-makers and AML practitioners. It targets an issue which is central to the policy debate, in the media, but is under-studied. The book is divided into two parts. Part I discusses the concept of money laundering risk, its main determinants, and carries out a review of extant country ratings, ranging from official blacklists and grey lists, to media leaks and scholarly papers. Part II discusses the weaknesses and the myths behind the current ratings, and proposes a new approach to assess the risk of money laundering across countries. With a critical research perspective, empirically-driven, this book aims to satisfy both scholars and students - in particular from criminology, economics and international relations - and practitioners from banks, professional firms, AML authorities"--
Author | : B. Zagaris |
Publisher | : |
Total Pages | : |
Release | : 2019 |
Genre | : |
ISBN | : |
Download U.S. Treasury Criticism of EU Anti-money Laundering Blacklist Shows Cracks in Financial Enforcement Book in PDF, Epub and Kindle
In this article, the author discusses the process and rationale behind the EU's anti-money laundering blacklist and the U.S. Treasury's response.
Author | : Michele Riccardi |
Publisher | : Routledge |
Total Pages | : 120 |
Release | : 2022-01-31 |
Genre | : Business & Economics |
ISBN | : 1000531031 |
Download Money Laundering Blacklists Book in PDF, Epub and Kindle
What are the criteria used by Financial Action Task Force (FATF) and the European Union to blacklist jurisdictions at high-risk of money laundering? What are the countries at highest risk according to Panama Papers and FinCEN files? Where do criminals move their illicit money, according to judicial and investigative evidence? This book answers these questions. It is an unprecedented study on the countries at highest risk of attracting money laundering and organised crime proceeds – and how they are identified as such by scholars, policy-makers and anti-money laundering (AML) practitioners. It targets an issue which is central to the policy debate, in the media, but is under-studied. This book is divided into two parts. Part I discusses the concept of money laundering risk, its main determinants, and carries out a review of extant country ratings, ranging from official blacklists and grey lists, to media leaks and scholarly papers. Part II discusses the weaknesses and the myths behind the current ratings and proposes a new approach to assess the risk of money laundering across countries. With a critical research perspective, empirically driven, this book aims to satisfy both scholars and students – in particular from criminology, economics, and international relations – and practitioners from banks, professional firms, and AML authorities.
Author | : Michele Riccardi |
Publisher | : Taylor & Francis |
Total Pages | : 187 |
Release | : 2022-01-31 |
Genre | : Business & Economics |
ISBN | : 1000530922 |
Download Money Laundering Blacklists Book in PDF, Epub and Kindle
What are the criteria used by Financial Action Task Force (FATF) and the European Union to blacklist jurisdictions at high-risk of money laundering? What are the countries at highest risk according to Panama Papers and FinCEN files? Where do criminals move their illicit money, according to judicial and investigative evidence? This book answers these questions. It is an unprecedented study on the countries at highest risk of attracting money laundering and organised crime proceeds – and how they are identified as such by scholars, policy-makers and anti-money laundering (AML) practitioners. It targets an issue which is central to the policy debate, in the media, but is under-studied. This book is divided into two parts. Part I discusses the concept of money laundering risk, its main determinants, and carries out a review of extant country ratings, ranging from official blacklists and grey lists, to media leaks and scholarly papers. Part II discusses the weaknesses and the myths behind the current ratings and proposes a new approach to assess the risk of money laundering across countries. With a critical research perspective, empirically driven, this book aims to satisfy both scholars and students – in particular from criminology, economics, and international relations – and practitioners from banks, professional firms, and AML authorities.
Author | : |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : |
ISBN | : 9789284808793 |
Download Reforming EU Blacklisting Book in PDF, Epub and Kindle
The EU blacklist of high-risk jurisdictions for money laundering is being criticised for a lack of autonomy from the FATF lists, politicisation and lobbying, and lack of transparency. The paper shows four ways to change this. More autonomy from the FATF can be reached through grey listing or merging the EU money laundering list with the EU tax list. More transparency can be reached by involving NGOs or academics to do the listing. But all these lists only look at the framework of anti-money laundering policy. When looking at the actual behaviour of launderers, criminological findings should be included. This can be accomplished by leveraging various agencies, like the US International Narcotics Control Strategy Report (INCSR) list. Lists differ substantially from each other and cover more than half of the world. To achieve both autonomy and transparency and to prevent politicisation, a research institute similar to the IMF could be established, for example, in the newly planned anti money laundering agency AMLA. Here an encompassing alert system of money laundering, including persons, sectors, entities, and countries could become an EU support for Member States. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Economic and Monetary Affairs (ECON).
Author | : Julia C. Morse |
Publisher | : Cornell University Press |
Total Pages | : 258 |
Release | : 2022-01-15 |
Genre | : Political Science |
ISBN | : 1501761528 |
Download The Bankers' Blacklist Book in PDF, Epub and Kindle
In The Banker's Blacklist, Julia C. Morse demonstrates how the Financial Action Task Force (FATF) has enlisted global banks in the effort to keep "bad money" out of the financial system, in the process drastically altering the domestic policy landscape and transforming banking worldwide. Trillions of dollars flow across borders through the banking system every day. While bank-to-bank transfers facilitate trade and investment, they also provide opportunities for criminals and terrorists to move money around the globe. To address this vulnerability, large economies work together through an international standard-setting body, the FATF, to shift laws and regulations on combating illicit financial flows. Morse examines how this international organization has achieved such impact, arguing that it relies on the power of unofficial market enforcement—a process whereby market actors punish countries that fail to meet international standards. The FATF produces a public noncomplier list, which banks around the world use to shift resources and services away from listed countries. As banks restrict cross-border lending, the domestic banking sector in listed countries advocates strongly for new laws and regulations, ultimately leading to deep and significant compliance improvements. The Bankers' Blacklist offers lessons about the peril and power of globalized finance, revealing new insights into how some of today's most pressing international cooperation challenges might be addressed.
Author | : Donato Masciandaro |
Publisher | : Edward Elgar Publishing |
Total Pages | : 281 |
Release | : 2007-01-01 |
Genre | : Business & Economics |
ISBN | : 1782543473 |
Download Black Finance Book in PDF, Epub and Kindle
Black Finance will be a valuable and accessible tool for scholars and academics, principally in economics, though also in politics and law, as well as for regulators and supervisory institutions.
Author | : Julia Morse |
Publisher | : |
Total Pages | : 63 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Blacklists, Market Enforcement, and the Global Regime to Combat Terrorist Financing Book in PDF, Epub and Kindle
This paper highlights how international organizations can use Global Performance Indicators (GPIs) to drive policy change through transnational market pressure. When international organizations are credible assessors of state policy, and when monitored countries compete for market resources, GPIs transmit information about country risk and stabilize market expectations. Under these conditions banks and investors may restrict access to capital in non-compliant states and incentivize increased compliance. I demonstrate this market-enforcement mechanism through an analysis of the Financial Action Task Force (FATF), an intergovernmental body that issues non-binding recommendations to combat money laundering and the financing of terrorism. The FATF's public listing of non-compliant jurisdictions has prompted international banks to move resources away from listed states and raised the costs of continued non-compliance, significantly increasing the number of states with laws criminalizing terrorist financing. This finding suggests a powerful pathway through which institutions influence domestic policy and highlights the power of GPIs in an age where information is a global currency.
Author | : Matthew Brian Driscoll |
Publisher | : |
Total Pages | : 74 |
Release | : 2013 |
Genre | : |
ISBN | : |
Download Tax Havens Bending to the Will of Soft Law Book in PDF, Epub and Kindle
In 2000, two international organizations -- the Financial Action Task Force (FATF) and the Organization for Economic Development (OECD) -- attempted to attack the problems of money laundering and tax evasion through coercive soft law. Both organizations attempted to induce state compliance with international standards by placing noncompliant states on publicly available blacklists. The FATF blacklist, Non-Cooperative Countries or Territories, documented states that failed to implement international anti-money laundering standards and the OECD blacklist, Uncooperative Tax Havens, documented states that failed to implement international tax information-sharing agreements. This report examines the Cayman Islands' quick compliance with these two international efforts. The report hypothesizes that the Cayman Islands' complied quickly with both the FATF and OECD initiatives because the Cayman Islands' had a strong financial institutional capacity and a high level of reputational risk from not complying. The report develops a methodology for testing this theory against other jurisdictions placed on both of the original FATF and OECD blacklists. The testing reveals that while financial institutional capacity and reputational risk may have contributed to the Cayman Islands' and other states' compliance with the FATF and OECD initiatives, these factors were not determinative. The report concludes that better metrics for state institutional capacity and reputational risk are needed to accurately measure states' compliance with the FATF and OECD regimes.
Author | : Mr. Emmanuel Mathias |
Publisher | : International Monetary Fund |
Total Pages | : 51 |
Release | : 2023-04-21 |
Genre | : Business & Economics |
ISBN | : |
Download Leveraging Anti-money Laundering Measures to Improve Tax Compliance and Help Mobilize Domestic Revenues Book in PDF, Epub and Kindle
The paper advocates leveraging anti-money laundering (AML) measures to enhance tax compliance, tackle tax crimes, and, in turn, help mobilize domestic revenues. While AML measures have already been deployed to improve tax compliance, including during the European debt crisis, the benefits that such measures could bring to the integrity of the tax system are yet to be fully realized. In recent years, the relevance of AML measures for tax purposes resurfaced in public discourse in light of numerous data leaks that provided ample evidence of the closely intertwined nature of tax crimes and money laundering. There might now be the right political momentum for greater utilization of AML measures given post-pandemic calls for a more progressive tax system, elevated sovereign debt burdens, a challenging global economic outlook, and widespread cost-of-living crisis. In this context, the IMF has stressed the importance of rebuilding fiscal buffers, as countries with more fiscal room are better placed to weather the economic slowdown and protect households and businesses.