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Book
Blanchiment et fraude fiscale : analyse des dernières évolutions législatives et jurisprudentielles
Authors: --- --- --- --- --- et al.
Year: 2007 Publisher: Bruxelles : Vanham & Vanham,


Book
A Theory of “Crying Wolf” : The Economics of Money Laundering Enforcement
Authors: ---
ISBN: 1462313450 145271178X 128351138X 1451910983 9786613823830 Year: 2007 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

The paper shows how excessive reporting, called "crying wolf", can dilute the information value of reports. Excessive reporting is investigated by undertaking the first formal analysis of money laundering enforcement. Banks monitor transactions and report suspicious activity to government agencies, which use these reports to identify investigation targets. Banks face fines should they fail to report money laundering. However, excessive fines force banks to report transactions which are less suspicious. The empirical evidence is shown to be consistent with the model's predictions. The model is used to suggest implementable corrective policy measures, such as decreasing fines and introducing reporting fees.

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