Purpose This paper aims to assess, from an empirical perspective, the research question if public media reports which relate concrete banks to concrete allegations of money laundering have an adverse impact on banks stock prices and what are the drivers of such impact?...

Traces the history of the important obligation of financial systems and other vulnerable professions to report any suspicious transactions in order to combat money laundering. Contrasts the 1988 Statement of Principle of the Basel Committee on Banking Regulations and Supervisory Practices, which...

Outlines new legislation against money laundering: 2002 was a very active year which saw the Law on Combating International Terrorism, the Fourth Act on the Advancement of the Financial Market, and the Law on Combating Money Laundering and International Terrorism. Shows how these add new duties...

Purpose – This paper attempts to examine the practical condition of implementing risk‐based approach (RBA) in Chinese financial sectors. Design/methodology/approach – This paper compares the differences between rule‐based approach and risk‐based approach (RBA), and provides different...

Purpose The purpose of this paper is twofold. Firstly, it highlights areas of disconnect between how the financial services sector in the UK approaches the requirement to evidence source of wealth when conducting customer due diligence; the requirements of the UK’s laws and regulations in...

Purpose – The purpose of this paper is to review inadequacies of anti-money laundering (AML) and whistleblowing laws particularly in the UK financial services sector and suggest various reforms initiatives. Design/methodology/approach – The article relies extensively on secondary data...

Purpose – This paper aims to examine the extent to which the Financial Action Task Force (FATF) 40+9 Recommendations have been implemented by developing countries from the Asia‐Pacific region and the issues pertaining to these countries. Design/methodology/approach – The paper uses the...

Purpose – In addition to contributing to the supply side of corruption in Africa, the West has historically played a major role in laundering the proceeds. The Offshore Financial Centres (OFCs) are characterised as jurisdictions that attract a high level of non‐resident financial activity....

Purpose – The purpose of this paper is to examine the recommendations of an influential international advisory body, the Financial Action Task Force (FATF), towards regulation of Alternative Remittance Systems (ARSs). Design/methodology/approach – The research design is a comparative...