Research Handbook on Transnational Crime
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Research Handbook on Transnational Crime

Edited by Valsamis Mitsilegas, Saskia Hufnagel and Anton Moiseienko

This Research Handbook on Transnational Crime is an interdisciplinary, up-to-date guide to this growing field, written by an international cohort of leading scholars and experts. It covers all the major areas of transnational crime, providing a well-rounded, detailed discussion of each topic, and includes chapters focusing on responses to transnational crime in specific regions.
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Chapter 10: Policing and prosecution of money laundering

Simon NM Young

Abstract

How well are countries doing in policing and prosecuting the crime of money laundering? There are over 190 jurisdictions committed to the Financial Action Task Force (FATF)’s 40 Recommendations on anti-money laundering. The recommendations mandate various measures for the effective criminal enforcement of money laundering and confiscation of criminal property. In 2013, the FATF developed a new methodology for the mutual evaluation of jurisdictions, assessing not only compliance with the 40 recommendations but also effectiveness in realising 11 immediate outcomes. Of the first 48 jurisdictions evaluated under the new methodology from 2013 to 2018, it was found that most of them had a high degree of technical compliance with the policing and prosecution recommendations. However, most jurisdictions showed low or moderate effectiveness in realising policing and prosecution outcomes. This study examines the reasons for the disparity in compliance and effectiveness and reflects on the future of FATF mutual evaluations.

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