The Effectiveness of Anti-Money Laundering Policy: A Cost-Benefit Perspective
Publication date
2018-03-04
Authors
Ferwerda, Joras
Editors
King, Colin
Walker, Clive
Gurulé, Jimmy
Advisors
Supervisors
Document Type
Part of book
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Abstract
Basically all countries in the world have an anti-money laundering framework in place based on the 40 recommendations of the Financial Action Task Force (FATF), an intergovernmental body established by the G-7 countries in 1989. Now that all these countries are spending tax money to fight money laundering, a natural question to ask is how effective is this policy. Do taxpayers receive value for the money spent? In this chapter we discuss the effectiveness and efficiency of anti-money laundering policies and perform a measurement for countries in the European Union. We use the common policy evaluation tool of a cost-benefit analysis to inform us about the efficiency.
Keywords
Money laundering, Cost-benefit analysis, Policy, Anti-money laundering, European Union, Taverne, SDG 10 - Reduced Inequalities, SDG 17 - Partnerships for the Goals
Citation
Ferwerda, J 2018, The Effectiveness of Anti-Money Laundering Policy : A Cost-Benefit Perspective. in C King, C Walker & J Gurulé (eds), The Palgrave Handbook of Criminal and Terrorism Financing Law. Palgrave Macmillan, pp. 317-344. https://doi.org/10.1007/978-3-319-64498-1