Strategies to avoid blacklisting: The case of statistics on money laundering.

Clicks: 223
ID: 23301
2019
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Abstract
Financial and legal entities (e.g. banks, casinos, notaries etc.) have to report money laundering suspicions. Countries' engagement in fighting money laundering is evaluated-among others-with statistics on how often these suspicions are reported. Lack of compliance can result in economically harmful blacklisting. Nevertheless, these blacklists repeatedly become empty-in what is known as the emptying blacklist paradox. We develop a principal-agent model with intermediate agents and show that non-harmonized statistics can lead to strategic reporting to avoid blacklisting, and explain the emptying blacklist paradox. We recommend the harmonization of the standards to report suspicion of money laundering.
Reference Key
ferwerda2019strategiesplos Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Ferwerda, Joras;Deleanu, Ioana Sorina;Unger, Brigitte;
Journal PloS one
Year 2019
DOI
10.1371/journal.pone.0218532
URL
Keywords Keywords not found

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