An evaluation of money laundering policies

Harvey, Jackie (2005) An evaluation of money laundering policies. Journal of Money Laundering Control, 8 (4). pp. 339-345. ISSN 1368-5201

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Abstract

Considers evidence of the costs and benefits of money laundering compliance activity within the UK, in light of the fact that despite the UK’s particularly assiduous compliance, it remains on the list of identified money laundering countries. Outlines the evidence for the existence of money laundering in the UK: £25 billion is a possibly realistic figure for the amount actually laundered, a figure which is less than 1% of total funds handled by the financial system, although some funds appear to be going into property and other avenues which avoid the banking system. Compares the likely costs and benefits of regulation compliance, which is notoriously difficult. Concludes that the costs of compliance are not negligible, and that there is a need to understand more clearly both the objectives of legislation and the amount of money laundering activity taking place.

Item Type:	Article
Uncontrolled Keywords:	United Kingdom, Regulation, Money laundering, Cost benefit analysis
Subjects:	N100 Business studies N300 Finance N400 Accounting
Department:	Faculties > Business and Law > Newcastle Business School
Depositing User:	Elena Carlaw
Date Deposited:	12 Feb 2019 15:03
Last Modified:	29 Jun 2020 07:45
URI:	http://nrl.northumbria.ac.uk/id/eprint/37952

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