Journal of Money Laundering Control 

About: Journal of Money Laundering Control is an academic journal published by Emerald Publishing Limited. The journal publishes majorly in the area(s): Money laundering & Corruption. It has an ISSN identifier of 1368-5201. Over the lifetime, 1000 publications have been published receiving 8625 citations. The journal is also known as: Money laundering control.

How Big is Global Money Laundering

Abstract: Known incidents of money laundering involving large amounts of money generated from crime are of tremendous public interest and are consequently given wide publicity. A wide range of national and international agencies have attempted to quantify organised crime and components of money laundering in their particular sphere of interest, and their assessments are frequently made available in public statements. The purpose of this paper is to describe a comparatively simple crime‐economic model, constructed from readily available international databases, that closely ‘predicts’ a range of such expert assessments, and appears to offer a framework for determining and monitoring the size of money‐laundering flows around the world. Further research is required, but the exercise of constructing the model has identified a number of gaps in existing knowledge which could readily be addressed by well‐targeted research. Initial output from the model suggests a global money‐laundering total of S2.85bn per year, heavily concentrated in Europe and North America.

Shadow economy and tax evasion in the EU

Abstract: Purpose – The main purpose of this paper is to explore size of the shadow economy of 31 European Countries in 2014 and size of the shadow economy of 28 European Union countries over 2003-2014 (in per cent of official GDP). An additional objective is to identify tax evasion, as the problem of all the EU countries, answering the questions how better combat the tax fraud. Design/methodology/approach – Estimates of the shadow economy for all 28 European Union countries and other three countries from Europe, i.e. Norway, Switzerland and Turkey – MIMIC method was applied. Findings – The average size of the shadow economy in 28 EU countries was 22.6 per cent in 2003 and decreased to 18.6 per cent (of official GDP) in 2014. We also consider the most important driving forces of the shadow economy. The biggest ones are with 14.6 per cent unemployment and self-employment, followed by tax morale with 14.5 per cent and GDP growth with 14.3 per cent. The proportion of tax evasion (accounting for indirect taxation and self-employment activities) was on average 4.2 per cent (of official GDP) in Poland, 1.9 per cent in Germany and 2.9 per cent in the Czech Republic. Research limitations/implications – The MIMIC statistics do not address a large part of the wholly illegal economy (of typically criminal nature) and, accordingly, it is not an absolute magnitude of the whole unofficial economy. However, it does not seem that other, alternative, methods of measuring the unofficial economy are better in individual terms. Practical implications – Current statistical research should lead to practical acceptance in the framework of need for developing better organizational & legal ways for multi-level governance within the European Union, leading to effective methods of counteracting – in particular intra-Union fraud. In addition, the presentation of a review of typology of the main theories and studies regarding the unofficial economy aspects relating to tax evasion constitutes a practical review of the pursued research areas. Social implications – Safeguarding the national economy as a whole, by seeking ways of reducing the scope of shadow economy. Originality/value – Both regarding presentation of the latest shadow economy estimates and typology of its main studies and theories.

Accounting and corruption: a cross‐country analysis

Abstract: Purpose – The purpose of this paper is to better understand the relationship between accounting and auditing quality and the perceived level of corruption.Design/methodology/approach – This relationship is studied by performing a cross‐country analysis using public data to measure accounting quality, audit quality, and corruption.Findings – Consistent with the authors' predictions, the paper finds evidence that accounting and auditing quality are significantly related to the level of perceived corruption in a country.Research limitations/implications – These findings suggest that countries with more transparent reporting have lower levels of perceived corruption and that the level of perceived corruption may be reduced in a country by improving accounting and auditing quality.Practical implications – The findings suggest that countries can reduce the level of perceived corruption by improving the transparency of financial reporting by improving accounting and auditing standards.Originality/value – While s...

The fight against corruption and its implications for development in developing and transition economies

Abstract: Purpose – The purpose of this paper is to survey current academic and policy debates on combating corruption and the implications of the various international initiatives on social and economic development in both developing and transition economies.Design/methodology/approach – The paper reviews a range of published articles (1967‐2005), which provide theoretical and practical research on corruption and development. Themes discussed ranged from: conceptualization of corruption, causes of corruption, effects of corruption, perception and measurement of corruption, aid and corruption, and international efforts at combating corruption.Findings – Provides information on each author's perspectives on corruption, aid and development. The paper generally concedes the wastefulness of corruption. Corruption directly impedes progress towards the common poverty reduction objectives of both donor agencies and aid recipient countries.Practical implications – A very useful source of information drawing on thoroughly r...

Corruption as an obstacle to development in developing countries: a review of literature

Abstract: Purpose – Contemporary literature has paid scholarly attention to corruption from a variety of competing perspectives. However, broader accounts of the impact of corruption on development in developing countries are relatively scarce. The purpose of this paper is to examine the effect of corruption as a social impediment to development, which has a devastating effect on developing countries.Design/methodology/approach – The paper explores the relevant literature and the different perspectives that have been developed and conducted for investigating corruption in developing countries. The paper uses publicly available evidence to show that political, economic elite engaged in corrupt practices.Findings – The evidence shows that socio‐political and economic development, politics, power, history and globalisation have continued to reproduce and transform the institutional structures and actors which have facilitated corrupt practices in developing countries. The review shows that large sums of government rev...