Economic and Legal Effectiveness of the European Union's Anti-Money Laundering Policy

Official government policies against money laundering in the EU have been in place for roughly 25 years, after much concerted effort and a great deal of time and money invested. This volume examines the anti-money laundering policy of the EU Member States in connection to the threat of money launder [...]
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Official government policies against money laundering in the EU have been in place for roughly 25 years, after much concerted effort and a great deal of time and money invested. This volume examines the anti-money laundering policy of the EU Member States in connection to the threat of money laundering they face. During a three-year study the authors analysed the policies in-depth by travelling to 27 Member States to interview over a hundred people involved in the fight against money laundering. The analysis includes an inquiry into the national supervisory architectures, a comparison of the definitions of money laundering used in practice, a breakdown of the role of Financial Intelligence Units and a cost - benefit analysis of anti-money laundering policy. Skilfully assessing the economic and legal effectiveness of anti-money laundering efforts in the EU, this comprehensive study will appeal to students, scholars and practitioners working in economics, banking, finance and law.