Ill-Gotten Money and the Economy Yikona, Stuart; Slot, Brigitte; Geller, Michael ...
2011, 10-26-2011, 2011-10-11, 20110101
eBook, Book
Odprti dostop
Many developing countries have introduced policies to tackle ill-gotten money over the past years. Perception remains that such moves were more a result of international pressure being exercised than ...genuine ownership of such an agenda. There is not enough analysis and literature of how an anti-financial crime framework does (or does not) contribute to the development path of developing countries or how best to use these tools in a developing country environment. This study was aimed at initially exploring the effects of ill-gotten money or proceeds of crime and anti-money laundering policies on economic development. The study focused on two developing countries: Malawi, (a low-income country) and Namibia (an upper-middle-income country). The starting point of this analysis is that anti-money laundering is essentially a tool to address criminal activities and that, as a result, understanding criminal activities and how proceeds of crime impact development. The purpose of this study was: (i) to provide an initial answer to the question if and how measures to address proceeds of crime contributes to economic development; and (ii) to develop a framework that enable governments in developing countries to analyze the main sources of ill-gotten money and its effects on the economy.
Efforts to launder money and finance
terrorism have been evolving rapidly in recent years in
response to heightened countermeasures. The international
community has witnessed the use of increasingly
...sophisticated methods to move illicit funds through
financial systems across the globe and has acknowledged the
need for improved multilateral cooperation to fight these
criminal activities. This second edition is to serve as a
single, comprehensive source of practical information for
countries to fight money laundering and terrorist financing.
It discusses the problems caused by these crimes, the
specific actions countries need to take to address them and
the role international organizations play in the process.
The report is organized as follows: Part A of this Reference
Guide describes the problem of money laundering and
terrorist financing, their adverse consequences, and the
benefits of an effective regime. It also identifies the
relevant international standard-setting organizations and
discusses their specific efforts and instruments that fight
these activities. Part B describes the various elements that
are part of a comprehensive legal and institutional
framework for anti-money laundering and combating the
financing of terrorism for any country. This part of the
Reference Guide is a step-by-step approach to achieve
compliance with international standards, although it does
not dictate the specific methods or actions to be adopted.
Rather, it raises the issues that must be addressed and
discusses the options that a country has in order to resolve
these issues. Part C describes the role of the World Bank
and International Monetary Fund (IMF) in the global effort
and the coordination of technical assistance available to
countries in order to help them achieve compliance with
international standards. Each chapter is a self-contained
discussion of the topics covered in that chapter with
detailed references to background and original source
materials. Annexes I, II and III provide complete citations
to reference materials.
To combat money laundering (ML)/terrorist financing (TF), Pakistan has joined the Asia Pacific Group in May 2000. Pakistan has ratified and adopted twenty United Nations conventions and resolutions ...on organized and related crimes. However, these efforts were futile due to deficient legislation and insubstantial implementation caused by a lack of political commitment and will. Although a multi‐agency approach for investigation and enforcement is in place to fight against ML/TF, the geographical location and variety of Pakistan's borders are natural obstacles in implementing a sustainable anti‐money laundering (AML)/counter financing of terrorism regime. Further, the mutual evaluation report stated that Anti‐money Laundering Act (AMLA) 2010's development demonstrates many inconsistencies and deficiencies, resulting in a feeble AML regime. FTAF has endorsed flaws in AMLA and related laws pointed by APG. Pakistan has convicted only one launderer on the implementation front, and assets confiscation is also negligible under AMLA. Moreover, without clarity and harmonization in AMLA, Pakistan finds it difficult to secure a stable position in financial action task force (FATF).
El lavado de activos y el financiamiento del terrorismo son actividades ilícitas que perjudican el crecimiento y la estabilidad económica de un país; estos delitos están relacionado con el aumento de ...la pobreza y la violencia por lo que su control debe ser riguroso. La presente investigación diseña un modelo de segmentación basado en el factor jurisdicción que permite identificar las ciudades de mayor exposición al riesgo del Lavado de Activos y Financiación del Terrorismo (LAFT) en Colombia. Para dar cumplimiento a lo anterior, se recolecta la información disponible para 1122 municipios del país, proveniente de fuentes externas como la Fiscalía General de la Nación, el Observatorio de Drogas de Colombia e Indepaz. Los resultados reflejan que el 85% de los municipios son clasificados como riesgo bajo, 15% como riesgo medio y menos del 1% como riesgo alto en lavado de activos
Banks nowadays have come with innovations in all of their operations, particularly in account application. Therefore, people can apply for their account personally from any places by using the ...smartphone technology. However, it increases the possible risk of money laundering, especially in banking. One of the phenomena is the high number of Suspicious Financial Transaction Reports (LTKM) received by the Financial Transaction Reports and Analysis Center (INTRAC). Hence, this study analyzes the effect of Indonesia’s social demography on the risk of each individual of committing money laundering.Using secondary data obtained from INTRAC, the derived and selected independent variables was analyzed using ordinal logistic regression to determine their effect on the dependent variable, i.e. the Money Laundering Risk Score (MLRS). This study finds that the social demographic factors affecting the risk of money laundering committed by individuals are sex, age, marital status, occupation, and the history of financial service usage, in which occupation has the highest effect.
This book contains practical knowledge about anti-money laundering in Indonesia and the global context. This book, in addition to presenting various theories regarding the crime of money laundering, ...also presents various cases and their analysis to provide a comprehensive understanding.
‘Dirty money, pretty art’. Money laundering and subversive crime in the age of art financialization What is the current nature and extent of money laundering on the art market in times of an ...increasing financialization of art? This article introduces the problem of money laundering through art and reflects on the associated risks of financial crime. Drawing on two recently published research reports the article describes art market and art financialization practices that may facilitate money laundering. It presents an overview of relevant rules and regulations and points to the challenges of preventing art-based financial crimes.
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