Abstract
We started this work by looking back to the late 1980s and introduced in the first chapter a hypothetical layman questioning the gravity of the laundering threat that has loomed above our heads for decades without it actually coming down. In the previous chapter we reintroduced this layman with his persistent plain question “What is all this good for?” In relation to the two main aims of combating money laundering: integrity and crime reduction. Trying to answer this question left us rather speechless. Must we admit that there is not sufficient material for a satisfactory answer? Or shall we prevaricate and say the question is not well phrased? That would be nonsense: the question is perfectly clear and simple. Maybe it is a matter of a disorderly ‘conceptual cupboard’ which needs a severe tidying-up. While doing so we may find the outlines of a correspondingly simple answer, provided there is adequate material.
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Notes
- 1.
Organised Crime and Corruption Report Project: The Azerbaijani Laundromat. newsletter@transparency.org. 8 September 2017.
- 2.
The order of the indictment is often: predicate offence + organised crime + money laundering.
- 3.
No mention is made to Germany where according to Die Welt Germans hoard a lot of savings cash at home (€ 200 billion) and show the highest preference to pay cash for shopping. How ‘vulnerable’ is Germany and how much is ‘available for laundering’ is there in this country? https://www.welt.de/finanzen/verbraucher/article180413460/Waehrungen-Die-manische-Liebe-der-Deutschen-zum-Bargeld.html.
- 4.
Dun and Bradstreet’s Country Risk Indicator is a commercial database that provides a comparative, cross-border assessment of the risk of doing business in a country. The risk indicator is divided into seven bands, ranging from DB1 to DB7 sub-divided into quartiles (from 1a to 6d) where 1 is the lowest risk and 7 the greatest. Those countries classified as 5 and above are high risk with advice that companies limit their exposure.
- 5.
With “aquarium economy” the authorities mean that a “great deal of the criminal assets never comes into contact with the legal sector; rather, it is spent in the illegal economy, with purchases occurring in cash or through bank accounts.” MER Sweden, April 2017; p. 59. Meanwhile the Swedish law enforcement faces a contradiction: it is not very inclined to go after this “aquarium economy” laundering despite “the fact that the new money laundering offence targets consumption of criminal gains without the intent to laundering”. Hence, steal the cake but don’t eat it, because that would be laundering. But keeping the cake would also be laundering.
- 6.
Financiële Facetten van Ernstige Vormen van Criminaliteit. Editor P.C. van Duyne; Ministry of Justice, 1987.
- 7.
Available from: http://www.fatf-gafi.org/about/whoweare/. Accessed 2 January 2018.
- 8.
Behind the corporate veil: Using corporate entities for illicit purposes. OECD, 2001.
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van Duyne, P.C., Harvey, J.H., Gelemerova, L.Y. (2018). Conclusion: back to the essence and the future. In: The Critical Handbook of Money Laundering. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-52398-3_10
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