Laundering the Proceeds of Public Sector Corruption

Abstract

While much has been written about how anti-money laundering laws might be used to prevent or uncover official corruption there has been little empirical analysis of actual cases. Such an examination suggests that there are a number of recurring patterns of corruption that do not involve cash. These patterns suggest ways in which financial institutions might better detect the laundering of official corruption.

Keywords: Financial Action Task Force Standard, FATF, FATF 40, Money Laundering, Public Sector, Patterns of Corruption, Features of Corruption, Financial Institutions

JEL Classification: K14, K23, K42