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A cost‐effective strategy of implementing international anti‐corruption initiatives: Enhancing the role of anti‐money laundering in combating corruption

Lishan Ai (School of Political and Social Inquiry, Monash University, Melbourne, Australia)

Journal of Money Laundering Control

ISSN: 1368-5201

Article publication date: 1 January 2013

1878

Abstract

Purpose

The purpose of this conference paper is to provide a contextual and better understanding of the nexus between corruption and money laundering, in order to enhance the role of anti‐money laundering (AML) in combating corruption.

Design/methodology/approach

This paper analyses the key elements of the linkage between AML and anti‐corruption, and provides Australia and China as examples, demonstrating the potential importance of using AML to combat corruption.

Findings

It is found that apart from the main financial sectors, designated non‐financial sectors and high‐risk customers involved businesses are also vulnerable for money laundering, such as non‐financial designated business and professions, and politically exposed persons. In the meantime, these factors are regarded as the key points to combat corruption.

Originality/value

This paper highlights the corruption risks hidden in designated non‐financial business and professionals, and the risks of laundering the proceeds of corruption by politically exposed persons and financially exposed persons (FEPs).

Keywords

Citation

Ai, L. (2013), "A cost‐effective strategy of implementing international anti‐corruption initiatives: Enhancing the role of anti‐money laundering in combating corruption", Journal of Money Laundering Control, Vol. 16 No. 1, pp. 83-90. https://doi.org/10.1108/13685201311286887

Publisher

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Emerald Group Publishing Limited

Copyright © 2013, Emerald Group Publishing Limited

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