The Scale and Impacts of Money Laundering

The Scale and Impacts of Money Laundering

Brigitte Unger

The book gives an interdisciplinary overview of the state-of-the-art of money laundering as well as describing the legal problems of defining and fighting money laundering. It then goes on to present a number of economic models designed to measure money laundering and applies these to measuring the size of laundering in The Netherlands and Australia. The book also gives an overview of techniques and potential effects of money laundering identified and measured so far in the literature. It adds to this debate by calculating the effects of laundering on crime and economic growth.

Chapter 8: Conclusions

Brigitte Unger

Subjects: economics and finance, economic crime and corruption, money and banking, law - academic, corruption and economic crime

Extract

This book is based on a study conducted by Unger et al. (2006), performed for the Dutch Ministry of Finance. The goal of this study was to present a broad overview of the amounts and effects of money laundering that have been estimated so far and to identify blind spots in research. We contributed to the money laundering research by giving an interdisciplinary overview of the state of the arts. In the study and more so in this book, Madalina Busuioc showed the legal problems associated with defining and prosecuting money laundering (see Chapter 2). In the study, we calculated the amount of money laundered for the Netherlands by making improvements to the underlying model, both theoretical and empirical, and by making it more transparent. This book improves some of the indicators. Furthermore, I explored the underlying model and possible ways of modelling money laundering in more depth here. I showed different approaches of how to measure money laundering and looked at the theoretical model lying behind existing estimation models. I discovered that the gravity approach is the model lying behind the Walker model. This means that approaches of international trade theory can also be used to theoretically underpin this model (see Chapter 3). Furthermore, with the help of my student assistant Joras Ferwerda, I compared the Netherlands with Australia with regard to the amounts of money laundered (see Chapters 4). Together with Madalina Busuioc I identified the important techniques of money laundering and gave some examples and empirical underpinning....

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