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The purpose of this paper is to explore the extent of anti-Money laundering (AML) disclosures in the annual reports and websites by differentiating between UAE Islamic and conventional banks, and examine the effect of AML disclosure on UAE bank’s performance.

This study uses content analysis to explore the extent of AML disclosure in the annual reports and the dynamic panel data two-step robust system to study the impact of the AML disclosures on banking performance.

The findings show that AML disclosure is at a low level for all UAE banks, conventional and Islamic banks. The results also show that the degree of AML disclosure on the websites of the banks is higher than that in the annual reports.

The sample for this study comes only from banks traded on UAE markets. Thus, the results may not be generalizable to banks traded on other financial markets.

Because of the cross-border character of the money laundry practices, our study suggests the UAE central bank to internationalize the AML regulations and develop an international AML regime as efforts to respond to the international development of the money laundry practices.

This is the first study that develops an index to measure the AML disclosure and contributes significantly in providing greater insight in respect to AML disclosure in banking industry within the emerging markets.

This paper aims to provide an insight into anti-money laundering (AML) regulations in light of the global AML framework. Specific analysis is drawn using a case study of Bangladesh – the national financial culture within the country is carefully examined to establish the extent to which it is conducive to adopting such frameworks. Particular focus is placed on customer due diligence requirements, and the unique challenges posed by alternative remittance systems. The paper evaluates the impact of globalisation as well as the correlation between developments based on resources available to the respective state.

The research has primarily been conducted through the usage of relevant websites (reports compiled by national and international agencies) and journal articles in electronic format. References have been made to studies and works carried out by authors on the global AML framework.

The internal structural development of Bangladesh must be enhanced and the various social and economic issues must be overcome before a practical AML framework can be successfully implemented.

The lack of published works on AML in Bangladesh is a shortcoming, and more work on this subject is encouraged. The absence of specific AML reports on Bangladesh has resulted in some informed assumptions based on other developing countries.

The research provides a deep insight into the global AML framework, how it can be applied to developing countries like Bangladesh and the drawbacks of implementing a universal framework domestically.

The study provides an innovative analysis, examining aspects of AML regulation in Bangladesh which have not previously been effectively studied.

The purpose of this paper is to analyze banking secrecy laws against the background of the Malaysian anti-money laundering laws. It has been argued that the anti-money laundering law makes greater inroads into the banking secrecy rule when compared to the common law or other statutes. Banks can disclose customer’s information on even grounds of suspicion of money laundering. Banking secrecy is a customer privilege, whereas combating money laundering is critical for public safety and security. Indeed, achieving a proper balance is a desirable goal. But how do we go about achieving such a balance is a question encountered by many law enforcement authorities. This paper looks into these issues.

This paper mainly relies on statutes as its primary sources of information. As such, the relevant Malaysian laws that provide the banking secrecy rule will be identified and analyzed. It will be necessary to examine the banking secrecy rule in the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) and other relevant statutes in detail, as these are the most important legislation for the purpose of this paper.

On closer inspection, it is submitted that AMLATFA provides sufficient safeguards to ensure that the disclosure of customer’s information is carried out in a manner that is not prejudicial to the interest of legitimate customers. This is a positive approach that could protect the innocent customers from being mistreated by the law. Ultimately, it can be said that the growing threat of global money laundering and terrorism makes the overriding of banking secrecy justified because without a flow of information from the banks, the effective prevention of the menace is not possible.

This paper analyzes the inroads into the banking secrecy rule under the Malaysian anti-money laundering laws. It would provide some guidelines into this particular area for academics, banks, their legal advisers, practitioners and policy makers, not only in Malaysia but also elsewhere.

This paper aims to compute a measure for anti-money laundering/counter-financing of terrorism (AML/CFT) compliance and investigate its determinants.

Using the Financial Action Task Force (FATF) recommendations and assigning weights to them, the study computes a measure for AML compliance. Further, the determinants of AML compliance were investigated using ordinary least squares (OLS) data of 155 countries between 2004 and 2016.

The findings suggest that AML compliance have slightly improved over the years. Further, the OLS regression results show that technology, regulatory quality, bank concentration, trade openness and financial intelligence center significantly determined and improved AML compliance.

From the findings, it is evident that countries that wish to improve the AML compliance should focus more on technology, regulatory quality, structure of the banking sector, size of the economy and institution of financial intelligence center so as to enhance AML compliance.

To the best of the author’s knowledge, this paper reveals a first AML/CFT compliance index that measures the cross-country level of AML/CFT compliance from the year 2004 to 2016. Subsequently, this paper adopted an OLS econometric model to identify the key determinants of AML/CFT compliance among member states of FATF.

Over the past decade concern has been raised by much of the international community about the integrity and stability of the financial system, given the amount of money being laundered to convert the profits of illegal activities into financial assets which appear to have a legitimate origin. This money includes not only the gains from the sale of illegal drugs but also the profits from organised crime and tax evasion. Annual estimates of laundered funds range from US$300bn to as much as US$1.000bn, which the International Monetary Fund estimates is 2—5 per cent of global gross domestic product. The bulk of these funds are derived from the nearly US$400bn a year generated from the illegal drugs trade. The magnitude and seriousness of money laundering motivated the General Assembly of the United Nations in 1988 to adopt a universal pledge to put a halt to this activity.

The second part of a series that aims to provide an alternative viewpoint about the issues surrounding money laundering.

The paper combines narrative with argument and analysis to look closely at how the present state of the money laundering laws which are currently in force have arisen, to a greater or lesser extent, throughout the world.

No real understanding of this phenomenon can be achieved without understanding the political conflicts which are identified by the US approach to world affairs, and the part that the US currency plays in them, because it is as much the influence of the ex‐patriot US dollar which plays such a significant part in the world of funny money control, as any other aspect.

This comparative study enables readers to see more clearly the intentions behind the thinking (or lack of it) of those who have implemented the legislative changes, as well as their geo‐political ambitions.

This paper aims to determine the preferable destinations of money laundered from Pakistan by using the Walker’s Gravity Model and to estimate the amount of money laundered through 156 countries. The research aims to facilitate policymakers and regulators to provide more efficient guidelines to counter the problem of money laundering.

This study uses a descriptive and quantitative approach. This study uses the Walker’s Gravity Model updated by Unger et al. (2006) to measure money laundering in Pakistan; Walker’s Gravity Model was first developed by John Walker in 1994.

The results indicate that Pakistani money launderers preferred countries having large financial sectors and political stability to hide their illegal money. In addition, the study estimates the amount of money laundered and shows that Pakistan has lost bulk of funds.

The major limitation is the non-availability of reliable data as the activity is hidden. Reliable data is either not available officially or scattered. Available data only reflect aspects that are reported. Non-availability of statistics for all years and countries resulted in the omission of some countries.

The study helps legislators and policymakers, including the Ministry of Finance, State Bank of Pakistan, Securities and Exchange Commission Pakistan, and other regulators, including law enforcement agencies and financial institutions, in formulating effective policies, regulations and internal control.

The study helps to identify the need of estimating the amount of money laundered to fight the problem effectively. Very few efforts have made to determine the size and the amount of money laundered, and this is the first study to determine the amount of money flowing out of Pakistan with the purpose of laundering.

This paper aims to discuss whether most anti-money laundering (AML) risk assessment strategies within the banking and financial services sector are reactionary focused and/or whether it should be possible to predict where increased costs and resources need to be targeted in future AML risk processes.

The paper reviewed research findings from the researchers own study on trade-based money laundering (TBML) and also survey results from the KPMG Global Anti-Money Laundering Survey (2014), along with academic discussion papers.

The paper concluded that risk assessment strategies were still largely responsive, and this left banks exposed to two factors – not recognising risk that they were not assessing for and, second, being challenged legally as new cases emerged in the court systems from victims of ML and terrorism crimes.

The practical implications affect the resources and costs assigned to risk assessment strategies and called for a more holistic approach that was forward thinking from the bank’s perspective rather than reactionary focused and working from the regulators’s agenda.

Any improvements in detection of AML and counter-terrorism financing has broader social outcomes.

The originality is the subject matter of AML risk assessment strategies and the input from TBML/AML experts from across the globe that contributed to the author’s research survey and interviews. These results have been analysed along with other research and the current academic discussion on this topic.

The purpose of this study is to examine the effect of board characteristics on money laundering in Iranian listed companies.

This was a descriptive-correlational study, and in terms of purpose, it was an applied research. The statistical population of this study was all companies listed in Tehran Stock Exchange during the years 2012-2018. A sample of 150 companies was selected by screening method. Data analysis and hypothesis testing were performed using logistic regression and Eviews 10.

The results indicated that the board bonus and CEO duality (chief executive officer duality) had a significant effect on money laundering. CEO gender also had a significant effect on money laundering.

Sound management of risks related to money laundering by the board of directors is associated with stability, soundness and overall health of a country's financial system, which enables the integrity of the international financial system by meeting the Basel Committee goals, including strengthening the regulations, monitoring and improving current procedures, promoting financial stability and maintaining and enhancing a good corporate reputation; however, banks and other financial institutions are exposed to more serious risks, especially the reputation risk, operational risk, etc., if management does not play an effective role in the fight against money laundering. If management considers efficient and risk-driven policies and procedures in the fight against money laundering, then many problems and losses as well as many costs, including failure to collect receivables and to bring legal proceedings, can be prevented.