Shedding Light on Money Laundering and on the Financial Flows of Transnational Crime: Some Empirical Facts
(This paper is an extended version of the paper by Raffaella Barone and Friedrich Schneider (2019), “Shedding light on money laundering: Is it a damping wave?”, Discussion paper, University of Linz, Austria.)
43 Pages Posted: 19 Jul 2018 Last revised: 7 Aug 2019
Date Written: 08 06, 2019
This paper has three goals. First, some theoretical remarks about money laundering (both the demand and supply sides) are made. Second, we provide a quantitative analysis of money laundering and a preliminary review of our empirical findings on the proceeds of transnational crime worldwide, as well as a breakdown of the different types of crime proceeds. Third, we review literature on anti-money laundering and make policy conclusions. One conclusion of our contribution is that we provide knowledge about money laundering and the size of financial flows of transnational crime, which could be the basis for a more effective fight against transnational crime organizations.
Keywords: Money Laundering, Organized Crime, Criminal Economy, Drug Trafficking
JEL Classification: E26 G28, F33, H26, K14, K42
Suggested Citation: Suggested Citation