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Fighting money laundering in the age of online banking, virtual currencies and internet gambling

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Abstract

The development of new concepts for tackling crime on the internet has been one of the priorities at both the national and international levels in recent years. One of the sectors where this problem poses specific challenges is money laundering over the internet. The paper seeks to contribute to the understanding of the complex problem of cyber-laundering by analysing the risks and challenges that tackling online money laundering poses to regulators and law enforcement agencies and indicating the way forward to deter the laundering of illicit profits in the internet more effectively.

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Notes

  1. See: Bovet, Martha [3]; Voepel, Leiboldd, Tekie [40]; Peppard, Rylander [28].

  2. Tropina [36]; Gercke, Tropina, Lozanova, Sund [17].

  3. See e.g., UNODC [38].

  4. Council of Europe [7], p. 8.

  5. See: Weaver [41]; Blunden [2], p. 20.

  6. See e.g., Bjelajac [1], p. 7.

  7. Filipkowski [15].

  8. National Drug Intelligence Center [26], p. 4.

  9. Council of Europe [7], p. 42.

  10. See e.g., Weaver [41], p. 499.

  11. See e.g., Haines, Johnstone [18]; Council of Europe [7].

  12. See Filipkowski [15]; Dumitrache, Modiga [9], p. 50.

  13. FATF [12], p. 21.

  14. See: FATF [11].

  15. Council of Europe [7], p. 36.

  16. Council of Europe [7], p. 36.

  17. See, e.g., FATF [12].

  18. Council of Europe [7], p. 36.

  19. See Thomason [35], p. 24.

  20. FATF [12], p. 27.

  21. Council of Europe [7], p. 40–41.

  22. iDefence [19].

  23. Cisco [6], p. 9.

  24. Thomason [35], p. 18.

  25. Weaver [41], p. 456.

  26. Council of Europe [7], p. 42.

  27. Malhotra [23], p. 13.

  28. See e.g., Forbes [16], p. 28.

  29. Filipkowski [15], p. 23.

  30. See LIRNEasia & UP-NCPAG [22].

  31. See, e.g., Villasenor, Bronk, Monk [39], p. 13.

  32. See, e.g., Dumitrache, Modiga [9], p. 54.

  33. See FATF [12].

  34. See FATF [11], p. 2.

  35. FATF [11], p. 39.

  36. See Richet [30]; Piller, Zaccariotto [29], p. 70–71.

  37. Meiklejohn [24].

  38. Tucker [37], p. 601.

  39. FATF [12], p. 43.

  40. See Samani, Paget, Hart [31], p. 6–7.

  41. See Bryans [5].

  42. Samani, Paget, Hart [31], p. 8.

  43. European Central Bank [10].

  44. Samani, Paget, Hart [31], p. 45; Smyth [33].

  45. See Federal Bureau of Investigation [13].

  46. European Central Bank [10], p. 6.

  47. Brito, Castillo [4], p. 34.

  48. European Central Bank [10], p. 13–18.

  49. Brito, Castillo [4], p. 8.

  50. Irwin, Slay [20], p. 43.

  51. Filipkowski [15], p. 22.

  52. See, e.g., Council of Europe [8].

  53. For example, Council of Europe study in 2012 did not reveal any cases of this activity, see: Council of Europe [7], p. 57.

  54. Levi [21], p. 12.

  55. Fiedler [14], Mills [25].

  56. Schopper [32], p. 304.

  57. Villasenor, Bronk, Monk [39], p. 10.

  58. Weaver [41], p. 455; Filipkowski [15], p. 20–21.

  59. Council of Europe [7], p. 8.

  60. Weimer [42], p. 225.

  61. See e.g., Villasenor, Bronk, Monk [39], p. 5.

  62. Samani, Paget, Hart [31], p. 16.

  63. European Central Bank [10], p. 25.

  64. Brito, Castillo [4], p. 22.

  65. Schopper [32], p. 328–329.

  66. See e.g., Brito, Castillo [4], p. 34–35.

  67. Schopper [32], p. 328–329.

  68. Council of Europe [8], p. 9.

  69. Weimer [42], p. 226.

  70. Weimer [42], p. 226.

  71. Available at: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2013:0045:FIN:EN:HTML

  72. Fiedler [14].

  73. Council of Europe [8], p. 12.

  74. Fiedler [14], p. 3.

  75. Council of Europe [8], p. 13.

  76. Villasenor, Bronk, Monk [39], p. 60–69.

  77. Tropina [36].

  78. OECD [27], p. 192; Tropina [36].

  79. Sparshott [34].

  80. See, e.g., FATF [12], p. 27.

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  1. Max-Planck Institute for Foreign and International Criminal Law, Günterstalstraße 73, 79100, Freiburg, Germany

    Tatiana Tropina

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  1. Tatiana Tropina
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Correspondence to Tatiana Tropina.

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This article is based on a presentation given at the seminar Tackling Cyberlaundering More Effectively, organised by ERA on 11–12 April 2013 in Lisbon.

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Tropina, T. Fighting money laundering in the age of online banking, virtual currencies and internet gambling. ERA Forum 15, 69–84 (2014). https://doi.org/10.1007/s12027-014-0335-2

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