In the paper was taken problem of money laundering in respect of receiving income and incurring expenses. It was looked at economy as whole and individual entities that are households, companies, government and foreign countries which exercising significant influence on particular government...

The purpose of this research is to study the presence of illegal economy and money laundering processes from a macroeconomic perspective to analyze their economic effects and propose a conceptual framework that identifies its impact in terms of the mechanisms identified. Thus, considering the...

In 2005 the European Commission has adopted the so called Third Directive on Anti-Money Laundering (AML), which was to be implemented into the national laws at the latest in December 2007. The key feature that characterizes the Third Directive is the idea that the regulatory framework should be...

White-collar criminology scholarship shows that “accounting control frauds” (frauds led by the CEO) use accounting fraud to deceive (or suborn) sophisticated financial market participants. Large control frauds cause greater financial losses than all other forms of property crimes combined....

Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via negative interest rates) or to survey and potentially...

This paper implements a methodology that exploits firms and households’ optimality conditions to measure money laundering for the Italian economy. This approach, first implemented by Ingram, Kocherlakota, and Savin (1997) to the household production sector, and by Busato, Chiarini and Di Maro...

We provide the first thorough investigation of the effect of anti-money laundering inspections on banks' reporting of suspicious transactions. We do so by using highly detailed data from Bank of Italy and UIF (Italian authority for anti-money laundering), which include information on i) on-site...

Using a unique data set, this paper studies the governance of anti-money laundering supervisors known as Financial Intelligence Units (FIUs). Starting from a theoretical framework that highlights four key properties of FIU governance – financial powers, law enforcement features, independence...

Anti-money laundering regulations have been centred on the Know-Your-Customer rule so far, overlooking the fact that criminal proceedings that need to be laundered are usually represented by cash. This is the first study which tries to provide an answer to the question of how much of cash...