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

See all articles by Friedrich Schneider

Friedrich Schneider

Johannes Kepler University Linz - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Institute for the Study of Labor (IZA)

Raffaella Barone

University of Salento - Department of Law

Date Written: 08 06, 2019

Abstract

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

Schneider, Friedrich G. and Barone, Raffaella, Shedding Light on Money Laundering and on the Financial Flows of Transnational Crime: Some Empirical Facts (08 06, 2019). (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.) , Available at SSRN: https://ssrn.com/abstract=3204289 or http://dx.doi.org/10.2139/ssrn.3204289

Friedrich G. Schneider

Johannes Kepler University Linz - Department of Economics ( email )

Altenbergerstrasse 69
A-4040 Linz, 4040
Austria
+43 732 2468 8210 (Phone)
+43 732 2468 8208 (Fax)

CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

Institute for the Study of Labor (IZA)

P.O. Box 7240
Bonn, D-53072
Germany

Raffaella Barone (Contact Author)

University of Salento - Department of Law ( email )

Campus Universitario - Via Li Tufi
LECCE, LE 73020
Italy

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