Virtual currencies pose a serious threat to be used for money laundering, weakening the European Union's financial system. Directive (EU) 2018/843 (the fifth anti-money laundering Directive) intends to mitigate these risks by introducing a definition of virtual currencies within Union law. Some...

In the last two decades prolonged instances of corporate wrongdoing in Europe have been un-covered: from Siemens’ systemic bribery to HSBC and other major bank’s money laundering issues, Dieselgate, LIBOR price-rigging, and the recent Wirecard debacle. What has driven European firms to...

Purpose: The purpose of this paper is to measure anti-money laundering (AML) and counter-terrorism financing (CTF) disclosures by money exchanger providers in the Gulf Cooperation Council (GCC) countries.Design/methodology/approach: We conduct a content analysis on firms’ websites to compare...

Excessive and useless reporting, called “crying wolf effect”, is a crucial shortcoming that any anti-money laundering (AML) design aims to address and fix. For this reason, in these years the AML policy has switched both in the US and in Europe from a rule- to a risk-based approach. This...

Recent research highlights a need for non-financial companies to actively and effectively engage in the combat against money laundering and thereby support the financial sector in the struggle. Furthermore, research emphasize the need to combine anti-corruption and anti-money laundering efforts...

It is a controversial issue as to how to assess the effectiveness of the Anti-Money Laundering (AML) regime on the global arena. Based upon around 9,000 questionnaires circulated to AML professionals and other related staffs at the branches of banking institutions and People’s Bank of China as...

A good corporate governance framework should combine transparency, accountability and integrity and this requires knowledge of beneficial ownership. The protection of minority investors and other stakeholder protection will be challenging without access to reliable information about the...