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Recent trends in money laundering and terrorism financing
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| Zeitschriftentitel: | Journal of Financial Regulation and Compliance |
|---|---|
| Personen und Körperschaften: | |
| In: | Journal of Financial Regulation and Compliance, 27, 2019, 1, S. 2-12 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
Emerald
|
| Schlagwörter: |
| author_facet |
Teichmann, Fabian Maximilian Teichmann, Fabian Maximilian |
|---|---|
| author |
Teichmann, Fabian Maximilian |
| spellingShingle |
Teichmann, Fabian Maximilian Journal of Financial Regulation and Compliance Recent trends in money laundering and terrorism financing Strategy and Management |
| author_sort |
teichmann, fabian maximilian |
| spelling |
Teichmann, Fabian Maximilian 1358-1988 Emerald Strategy and Management http://dx.doi.org/10.1108/jfrc-03-2018-0042 <jats:sec><jats:title content-type="abstract-subheading">Purpose</jats:title><jats:p>This paper aims to investigate how criminals launder money and finance terrorism through the financial system.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title><jats:p>In total, 70 interviews were conducted with criminals and white-collar crime prevention experts, whose responses were subjected to qualitative content analysis. Based on the findings, a quantitative survey of 200 compliance officers was carried out.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Findings</jats:title><jats:p>The interviews and survey revealed concrete techniques of laundering money and financing terrorism through the financial services industry and its affiliates. Evidently, the compliance mechanisms aimed at preventing money laundering and terrorism financing can be easily circumvented.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Research limitations/implications</jats:title><jats:p>This study’s findings are limited to the perspectives of 70 interviewees. Hence, it is possible that a study with a larger sample conducted in different countries or at a different time could have yielded different results.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Practical implications</jats:title><jats:p>Identifying the concrete methods of laundering money and financing terrorism should provide both compliance officers and legislators with valuable insights into criminal activity. By better understanding the specific steps taken by criminals, compliance officers should be able to more effectively combat both money laundering and terrorism financing.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Originality/value</jats:title><jats:p>While prior literature focuses on the organizations and mechanisms involved in combating money laundering and terrorism financing, this paper instead explores how criminals avoid detection by taking into account existing compliance mechanisms and criminal perspectives.</jats:p></jats:sec> Recent trends in money laundering and terrorism financing Journal of Financial Regulation and Compliance |
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Journal of Financial Regulation and Compliance |
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| title |
Recent trends in money laundering and terrorism financing |
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Recent trends in money laundering and terrorism financing |
| title_full |
Recent trends in money laundering and terrorism financing |
| title_fullStr |
Recent trends in money laundering and terrorism financing |
| title_full_unstemmed |
Recent trends in money laundering and terrorism financing |
| title_short |
Recent trends in money laundering and terrorism financing |
| title_sort |
recent trends in money laundering and terrorism financing |
| topic |
Strategy and Management |
| url |
http://dx.doi.org/10.1108/jfrc-03-2018-0042 |
| publishDate |
2019 |
| physical |
2-12 |
| description |
<jats:sec><jats:title content-type="abstract-subheading">Purpose</jats:title><jats:p>This paper aims to investigate how criminals launder money and finance terrorism through the financial system.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title><jats:p>In total, 70 interviews were conducted with criminals and white-collar crime prevention experts, whose responses were subjected to qualitative content analysis. Based on the findings, a quantitative survey of 200 compliance officers was carried out.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Findings</jats:title><jats:p>The interviews and survey revealed concrete techniques of laundering money and financing terrorism through the financial services industry and its affiliates. Evidently, the compliance mechanisms aimed at preventing money laundering and terrorism financing can be easily circumvented.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Research limitations/implications</jats:title><jats:p>This study’s findings are limited to the perspectives of 70 interviewees. Hence, it is possible that a study with a larger sample conducted in different countries or at a different time could have yielded different results.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Practical implications</jats:title><jats:p>Identifying the concrete methods of laundering money and financing terrorism should provide both compliance officers and legislators with valuable insights into criminal activity. By better understanding the specific steps taken by criminals, compliance officers should be able to more effectively combat both money laundering and terrorism financing.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Originality/value</jats:title><jats:p>While prior literature focuses on the organizations and mechanisms involved in combating money laundering and terrorism financing, this paper instead explores how criminals avoid detection by taking into account existing compliance mechanisms and criminal perspectives.</jats:p></jats:sec> |
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| description | <jats:sec><jats:title content-type="abstract-subheading">Purpose</jats:title><jats:p>This paper aims to investigate how criminals launder money and finance terrorism through the financial system.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title><jats:p>In total, 70 interviews were conducted with criminals and white-collar crime prevention experts, whose responses were subjected to qualitative content analysis. Based on the findings, a quantitative survey of 200 compliance officers was carried out.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Findings</jats:title><jats:p>The interviews and survey revealed concrete techniques of laundering money and financing terrorism through the financial services industry and its affiliates. Evidently, the compliance mechanisms aimed at preventing money laundering and terrorism financing can be easily circumvented.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Research limitations/implications</jats:title><jats:p>This study’s findings are limited to the perspectives of 70 interviewees. Hence, it is possible that a study with a larger sample conducted in different countries or at a different time could have yielded different results.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Practical implications</jats:title><jats:p>Identifying the concrete methods of laundering money and financing terrorism should provide both compliance officers and legislators with valuable insights into criminal activity. By better understanding the specific steps taken by criminals, compliance officers should be able to more effectively combat both money laundering and terrorism financing.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Originality/value</jats:title><jats:p>While prior literature focuses on the organizations and mechanisms involved in combating money laundering and terrorism financing, this paper instead explores how criminals avoid detection by taking into account existing compliance mechanisms and criminal perspectives.</jats:p></jats:sec> |
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| spelling | Teichmann, Fabian Maximilian 1358-1988 Emerald Strategy and Management http://dx.doi.org/10.1108/jfrc-03-2018-0042 <jats:sec><jats:title content-type="abstract-subheading">Purpose</jats:title><jats:p>This paper aims to investigate how criminals launder money and finance terrorism through the financial system.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title><jats:p>In total, 70 interviews were conducted with criminals and white-collar crime prevention experts, whose responses were subjected to qualitative content analysis. Based on the findings, a quantitative survey of 200 compliance officers was carried out.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Findings</jats:title><jats:p>The interviews and survey revealed concrete techniques of laundering money and financing terrorism through the financial services industry and its affiliates. Evidently, the compliance mechanisms aimed at preventing money laundering and terrorism financing can be easily circumvented.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Research limitations/implications</jats:title><jats:p>This study’s findings are limited to the perspectives of 70 interviewees. Hence, it is possible that a study with a larger sample conducted in different countries or at a different time could have yielded different results.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Practical implications</jats:title><jats:p>Identifying the concrete methods of laundering money and financing terrorism should provide both compliance officers and legislators with valuable insights into criminal activity. By better understanding the specific steps taken by criminals, compliance officers should be able to more effectively combat both money laundering and terrorism financing.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Originality/value</jats:title><jats:p>While prior literature focuses on the organizations and mechanisms involved in combating money laundering and terrorism financing, this paper instead explores how criminals avoid detection by taking into account existing compliance mechanisms and criminal perspectives.</jats:p></jats:sec> Recent trends in money laundering and terrorism financing Journal of Financial Regulation and Compliance |
| spellingShingle | Teichmann, Fabian Maximilian, Journal of Financial Regulation and Compliance, Recent trends in money laundering and terrorism financing, Strategy and Management |
| title | Recent trends in money laundering and terrorism financing |
| title_full | Recent trends in money laundering and terrorism financing |
| title_fullStr | Recent trends in money laundering and terrorism financing |
| title_full_unstemmed | Recent trends in money laundering and terrorism financing |
| title_short | Recent trends in money laundering and terrorism financing |
| title_sort | recent trends in money laundering and terrorism financing |
| title_unstemmed | Recent trends in money laundering and terrorism financing |
| topic | Strategy and Management |
| url | http://dx.doi.org/10.1108/jfrc-03-2018-0042 |