What is it about?

Examines the policy response to a series of European banks’ money laundering scandals. This paper explores what evidence “hidden in plain sight” in official anti-money laundering rating data reveals about claims justifying the expansion of money laundering controls in response to European bank scandals.

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Why is it important?

This article draws fresh conclusions from the anti-money laundering industry’s own “main” dataset, under-utilised in policymaking and research. A perceived lack of international coordination influencing the policy response to a series of alleged anti-money laundering breaches does not accord with the anti-money laundering industry’s own evidence base.

Perspectives

Responding to new crises with superficial solutions without addressing fundamental questions with a multi-disciplinary perspective risks repeating and extending a decades-long cycle of ineffectiveness in efforts to mitigate the social and economic harms from profit-motivated crime.

Dr Ronald F Pol
La Trobe University

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This page is a summary of: Response to money laundering scandal: evidence-informed or perception-driven?, Journal of Money Laundering Control, January 2020, Emerald, DOI: 10.1108/jmlc-01-2019-0007.
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