TY - JOUR
T1 - Money laundering as a crime in the financial sector: A new approach to quantitative assessment, with an application to Italy
AU - Ardizzi, Guerino
AU - Petraglia, Carmelo
AU - Piacenza, Massimiliano
AU - Schneider, Friedrich
AU - Turati, Gilberto
PY - 2014
Y1 - 2014
N2 - 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.
AB - 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.
KW - Banking regulation
KW - Money laundering
KW - Banking regulation
KW - Money laundering
UR - https://publicatt.unicatt.it/handle/10807/99925
UR - https://www.scopus.com/inward/citedby.uri?partnerID=HzOxMe3b&scp=84911374910&origin=inward
UR - https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84911374910&origin=inward
U2 - 10.1111/jmcb.12159
DO - 10.1111/jmcb.12159
M3 - Article
SN - 0022-2879
VL - 46
SP - 1555
EP - 1590
JO - Journal of Money, Credit and Banking
JF - Journal of Money, Credit and Banking
IS - 8
ER -