Money Laundering as a Crime in the Financial Sector: A New Approach to Quantitative Assessment, with an Application to Italy

Autor:	Gilberto Turati, Massimiliano Piacenza, Guerino Ardizzi, Friedrich Schneider, Carmelo Petraglia
Rok vydání:	2014
Předmět:	Macroeconomics Economics and Econometrics Financial institution media_common.quotation_subject Financial system Current account Money laundering Cash flow forecasting Operating cash flow Accounting Cash Economics Cash flow statement Cash management Finance media_common
Zdroj:	Journal of Money, Credit and Banking. 46:1555-1590
ISSN:	0022-2879
DOI:	10.1111/jmcb.12159
Popis:	This study provides an answer to the question of how much cash deposited via a financial institution can be traced back to criminal activities, by developing a new approach to measure money laundering and proposing an application to Italy. We define a model of cash in-flows on current accounts considering, besides “dirty money” to be laundered, also the legal motivations to deposit cash and the role of the shadow economy. We find that the average amount of cash laundered in Italy is around 6% of GDP. These findings are coherent with estimates of the nonobserved economy obtained in previous studies.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::e55d6c035d16e0ae6c32a9e377b5977e https://doi.org/10.1111/jmcb.12159 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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