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Author/Editor:
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Concepción Verdugo Yepes
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Publication Date:
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July 01, 2011
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Electronic Access:
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Free Full text
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper assesses countries' compliance with the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) international standard during the period 2004 to 2011. We find that overall compliance is low; there is an adverse impact on financial transparency created by the cumulative effects of poor implementation of standards on customer identification; and the current measurements of compliance do not take into account an analysis of ML/FT risk, thereby undermining their credibility and the relevance of some of the policy recommendations taken on their basis. Moreover, we also examine the key role of some cultural, institutional, and financial factors in boosting countries' compliance using econometric analysis.
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Order a print copy
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Series:
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Working Paper No. 11/177
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Subject(s):
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Money laundering | Banks | Combating the financing of terrorism | Reports on the Observance of Standards and Codes
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Author's Keyword(s):
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Money Laundering | Terrorist Financing | Compliance | AML/CFT International Standard. |
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English
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Publication Date:
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July 01, 2011
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ISBN/ISSN:
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9781462312306/1018-5941
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Format:
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Paper
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Stock No:
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WPIEA2011177
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Pages:
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75
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Price:
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Please address any questions about this title to
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