Money laundering as a crime in the financial sector: A new approach to quantitative assessment, with an application to Italy

Gilberto Turati; Guerino Ardizzi; Carmelo Petraglia; Massimiliano Piacenza; Friedrich Schneider

doi:10.1111/jmcb.12159

Money laundering as a crime in the financial sector: A new approach to quantitative assessment, with an application to Italy

Gilberto Turati, Guerino Ardizzi, Carmelo Petraglia, Massimiliano Piacenza, Friedrich Schneider

Risultato della ricerca: Contributo in rivista › Articolo in rivista › peer review

14 Citazioni (Scopus)

Abstract

This study provides an answer to the question of how much cash deposited via a financial institution can be traced back to criminal activities, by developing a new approach to measure money laundering and proposing an application to Italy. We define a model of cash in-flows on current accounts considering, besides "dirty money" to be laundered, also the legal motivations to deposit cash and the role of the shadow economy. We find that the average amount of cash laundered in Italy is around 6% of GDP. These findings are coherent with estimates of the nonobserved economy obtained in previous studies.

Lingua originale	English
pagine (da-a)	1555-1590
Numero di pagine	36
Rivista	JOURNAL OF MONEY, CREDIT, AND BANKING
Volume	46
DOI	https://doi.org/10.1111/jmcb.12159
Stato di pubblicazione	Pubblicato - 2014

Keywords

Banking regulation
Money laundering

Accesso al documento

10.1111/jmcb.12159

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Money laundering as a crime in the financial sector: A new approach to quantitative assessment, with an application to Italy. / Turati, Gilberto; Ardizzi, Guerino; Petraglia, Carmelo; Piacenza, Massimiliano; Schneider, Friedrich.

In: JOURNAL OF MONEY, CREDIT, AND BANKING, Vol. 46, 2014, pag. 1555-1590.

Risultato della ricerca: Contributo in rivista › Articolo in rivista › peer review

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AU - Schneider, Friedrich

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