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Politically exposed persons AML, taking the profit out of corruption and problems for the banks

Politically exposed persons AML, taking the profit out of corruption and problems for the banks Purpose – The purpose of this paper is to show how political corruption may be combated through measures aimed at making it less profitable and more subjected to public controls via banking reports of all relevant deposits. Design/methodology/approach – The paper provides a brief description of a few European legal Systems, Italian in particular. Findings – The paper finds that organized crime can only be efficiently tackled and impoverished of its economic enticements if political, institutional and economical complicities are publicly exposed and forced to be halted; while society, and younger generations in particular, are made fully aware that the embrace mafia tries to impose on them is and will always be deadly. Practical implications – Evaluation of the possible solutions in terms of legislative reform. Originality/value – The paper describes a novel standpoint. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Money Laundering Control Emerald Publishing

Politically exposed persons AML, taking the profit out of corruption and problems for the banks

Journal of Money Laundering Control , Volume 11 (3): 4 – Aug 8, 2008

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1368-5201
DOI
10.1108/13685200810889416
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to show how political corruption may be combated through measures aimed at making it less profitable and more subjected to public controls via banking reports of all relevant deposits. Design/methodology/approach – The paper provides a brief description of a few European legal Systems, Italian in particular. Findings – The paper finds that organized crime can only be efficiently tackled and impoverished of its economic enticements if political, institutional and economical complicities are publicly exposed and forced to be halted; while society, and younger generations in particular, are made fully aware that the embrace mafia tries to impose on them is and will always be deadly. Practical implications – Evaluation of the possible solutions in terms of legislative reform. Originality/value – The paper describes a novel standpoint.

Journal

Journal of Money Laundering ControlEmerald Publishing

Published: Aug 8, 2008

Keywords: Politics; Italy; Corruption; Banks; Money laundering; Criminals

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