The Effectiveness of Anti-Money Laundering Policy: A Cost-Benefit Perspective

J. Ferwerda

doi:10.1007/978-3-319-64498-1

The Effectiveness of Anti-Money Laundering Policy: A Cost-Benefit Perspective

Research output: Chapter in Book/Report/Conference proceeding › Chapter › Academic › peer-review

Abstract

Basically all countries in the world have an anti-money laundering framework in place based on the 40 recommendations of the Financial Action Task Force (FATF), an intergovernmental body established by the G-7 countries in 1989. Now that all these countries are spending tax money to fight money laundering, a natural question to ask is how effective is this policy. Do taxpayers receive value for the money spent? In this chapter we discuss the effectiveness and efficiency of anti-money laundering policies and perform a measurement for countries in the European Union. We use the common policy evaluation tool of a cost-benefit analysis to inform us about the efficiency.

Original language	English
Title of host publication	The Palgrave Handbook of Criminal and Terrorism Financing Law
Editors	Colin King, Clive Walker, Jimmy Gurulé
Publisher	Palgrave Macmillan
Chapter	14
Pages	317-344
ISBN (Electronic)	978-3-319-64498-1
ISBN (Print)	978-3-319-64497-4
DOIs	https://doi.org/10.1007/978-3-319-64498-1
Publication status	Published - 4 Mar 2018

Keywords

Money laundering
Cost-benefit analysis
Policy
Anti-money laundering
European Union

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10.1007/978-3-319-64498-1

Ferwerda2018_Chapter_TheEffectivenessOfAnti-MoneyLaFinal published version, 300 KB

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ER -

The Effectiveness of Anti-Money Laundering Policy: A Cost-Benefit Perspective

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Keywords

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