The Challenges of Implementing Anti-Money Laundering Regulation: An Empirical Analysis

Zavoli, I. and King, C. 'The Challenges of Implementing Anti-Money Laundering Regulation: An Empirical Analysis' (2021) 84(4) Modern Law Review 740-771.

Posted: 29 Mar 2022

See all articles by Ilaria Zavoli

Ilaria Zavoli

School of Law, University of Leeds (UK)

Colin King

Institute of Advanced Legal Studies, University of London

Date Written: July 01, 2021

Abstract

For over three decades, money laundering has been an area of concern for policymakers and law enforcement, with significant efforts undertaken at national and international levels to combat it. Recently, laundering of criminal proceeds using real property has attracted increased attention amongst policymakers. Various efforts are now being undertaken to tackle money laundering in the UK property market, but there are still significant difficulties in its practical implementation. Drawing upon semi-structured interviews with estate agents and compliance officials, this study identifies critical aspects of AML compliance that are particularly problematic for those involved in it. In so doing, this article delivers a new perspective, by analysing data gathered with the first empirical study on the implementation of AML obligations in practice (in the UK property market) since the introduction of the 2017 Money Laundering Regulations.

Keywords: money laundering, real estate, UK, AML, regulations, estate agents

Suggested Citation

Zavoli, Ilaria and King, Colin, The Challenges of Implementing Anti-Money Laundering Regulation: An Empirical Analysis (July 01, 2021). Zavoli, I. and King, C. 'The Challenges of Implementing Anti-Money Laundering Regulation: An Empirical Analysis' (2021) 84(4) Modern Law Review 740-771. , Available at SSRN: https://ssrn.com/abstract=4033785

Ilaria Zavoli (Contact Author)

School of Law, University of Leeds (UK) ( email )

Liberty Building
Leeds, LS2 9JT
United Kingdom

HOME PAGE: http://https://essl.leeds.ac.uk/law/staff/247/dr-ilaria-zavoli

Colin King

Institute of Advanced Legal Studies, University of London ( email )

Charles Clore House
17 Russell Square
London, WC1B 5DR
United Kingdom

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