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The purpose of this study is to check the effectiveness of anti-money laundering (AML) regulations in Pakistan. The study investigates and analyses some key variables that may be influencing the effectiveness of anti-money regulations in Pakistan. Money laundering is most prevalent in the banking sector, as banks deals with the money’s deposition, withdrawal and transfer, therefore, it is necessary to evaluate the effectiveness of anti-money regulations on subjective judgments. It is an exploratory study in which I have tried to find the relationship and impact of three regulations, which are customer record keeping, employee training and suspicious transaction reporting on money laundering.

A sample of hundred responses has been collected from employees working in different banks located in Rawalpindi and Lahore through questionnaire. Questionnaire has been developed on the basis of different dimensions of the research variables.

It has been found that that there is an impact of employee training on money laundering in banking system. A moderate inverse relationship between employee training and money laundering and anti-money laundering regulation of customer record keeping has weak impact on money laundering in developing countries.

The research is limited to Pakistan only, and to apply the same concept in other countries, researchers need to check the financial institutions of that country as well.

It has been suggested that to stop money laundry, special budget should be allocated for the capacity building of employees through training. Timely guidance and assistance of foreign-trained instructors or experts in combating money laundering should be taken. Implementation of anti-money laundering regulations should be transparent, consistent and timely.

The purpose of this paper is to develop a theoretical model to study the impact of corruption on money laundering.

The relationship between corruption and money laundering has been modelled by using differential games.

The authors' model suggests that corruption increases the quantity of dirty money laundered in the formal economy. It was also found that, jointly with the anti‐laundry regulations, the government should create a better salary policy, as a way to control corruption of federal officials.

To best of the authors' knowledge, this is the first theoretical paper that studies the link between money laundering and corruption.

The purpose of this interdisciplinary cross-country study is to investigate the influence of cultural tightness-looseness on money laundering.

The authors rely on tightness-looseness theory as the basis for their predictions. The authors use the Basel Anti Money Laundering Index to operationalize financial crimes. They use dynamic panel data regressions spanning from 2012 to 2018 across 66 countries.

The authors find a positive and significant effect of national culture on money laundering financial crime. This suggests that financial crimes increase in countries with higher levels of cultural looseness orientation. Moreover, the authors show that the absence of violence, control of corruption, political stability and voice and accountability has a significant and negative influence on money laundering financial crime.

Formal institutional factors are not the only factors that can help curb financial crimes, but policy regulators should also consider the degree of cultural tightness-looseness.

To the best of authors’ knowledge, this is the first research ever to examine the effects of cultural tightness-looseness on the level of financial crimes.

The purpose of this paper is to explore the contrasting views of banks and banking authorities in Lebanon regarding the corporate governance (CG) and corporate social responsibility (CSR) nexus.

Using survey responses collected from the managers of five Lebanese banks and banking authorities, the authors conduct a qualitative comparative study of the opinions on CG, CSR and CG–CSR nexus.

The findings of this paper reveal that while a CG culture is well-instituted by the authorities and that some forms of CSR are already practiced by banks, disagreements exist between the Lebanese banks and banking authorities in defining the CG–CSR nexus. While CG is viewed as an all-encompassing concept by the banking authorities, most banks ascribe to the paradigm that CG is component of CSR.

The sample of this paper consists of large banks that have clear CG and CSR agendas. The results, therefore, cannot be generalized for the wider population of Lebanese companies that are characterized by family ownership and non-separation of ownership and control.

This paper informs both managers and policymakers on the differing views of the CSR–CG nexus while also contributing to informing the policy dialogue. Theoretically, this paper sheds light on the CG–CSR nexus in a developing country context.

There is a paucity of research on the CG–CSR nexus in the context of developing countries and for the banking sector in specific. This paper aims to address the gap in the literature by providing an in-depth qualitative examination of the CG, CSR and the CG–CSR nexus in the context of the Lebanese banking sector.

This paper aims to explore the extent of anti-bribery disclosures in the annual reports of the banks listed on UAE financial markets by differentiating between Islamic and conventional banks and examine the effect of anti-bribery disclosure on bank’s performance.

This study uses in the first stage the content analysis to explore the extent of anti-bribery disclosure in the annual reports of the banks. In the second stage, the dynamic panel two-step robust system has been applied to study the impact of the anti-bribery disclosure on banking performance.

The empirical results show that the anti-bribery disclosure is at low levels for all banks and that there are no significant differences in overall anti-bribery disclosure between the two banking systems while there are significant differences in “anti-bribery human resources practices” between Islamic and conventional banks. The dynamic panel data results show that the association between the anti-bribery disclosure and the bank’s performance is not significant as this kind of information is not clearly disclosed in the annual reports of the banks.

The study suggests to the UAE central bank and financial markets regulators to design a framework of anti-corruption disclosure by considering the international anti-corruption regime as an effort to respond to the international development of the bribery practices.

Anti-bribery concerns all the banks over the world and this research is the first study that constructs an index to measure the anti-bribery disclosure and helps in providing the status of the banking industry in terms of anti-bribery disclosure within an emerging market in the objective to improve the transparency in combatting the bribery.

The purpose of this study is to examine regulatory sanctions from an emerging economy perspective and analyzing the impact of regulators imposed monetary sanctions on banks’ performance.

The study adopted correlational research design to examine the effect of regulatory penalties on the performance of deposit money banks in Nigeria. This study used panel data from a sample of 15 deposit money banks in Nigeria for the period of 2006-2015. Multiple regression analysis was carried out.

Results showed that penalties imposed by regulators in the Nigerian banking industry have no significant impact on the bottom line of the defaulters. Penalties imposed on foreign exchange and international trade related infraction showed that the cost of penalties is below the benefits enjoyed from such infractions.

The insignificant impact of penalties on performance implies that deposit money banks have considered penalties imposed by regulators as operational expenses and transferred such to customers.

The study differs from other studies that examined regulatory penalties on performance by focusing on financial performance and using data from an emerging economy perceived to have weak regulatory environment.

This paper aims to highlight the role of the Palestine Monetary Authority (PMA) in combating money laundering. The discussion will focus on the sectors under the PAM authority by examining the issued instructions.

The current study is a pure legal study. The methodology used in this paper is the qualitative approach by focussing on the doctrinal mechanism. Thus, it focussed on procedures, processes, laws, and regulations.

This paper found serious organisational inefficiencies within the governance framework of anti-money laundering (AML) for both the currency exchange and specialised lending institutions sectors. Moreover, the PMA’s role in combating money laundering is insufficient where its efforts are limited by random inspection visits and the installation of surveillance cameras in the money changers shops.

The findings may influence both the currency exchange and specialized lending institutions sectors to adopt a more vigilant approach to prevent the occurrence of money laundering in Palestine and to undertake more responsibility in ensuring compliance with the current AML legal framework. The study also highlighted that their current practice might place them in danger of non-compliance.

The paper demonstrated in, an exceptional way, the role of the PMA in combating money laundering by focussing on both legal and regulatory requirements for the three sectors under the PMA supervision authority. This paper made a valuable contribution to the study of combating money laundering in Palestine, where it is one of the first studies dealing with this issue involving this country.

This paper critiques the recent anti‐money laundering (AML) legislation in Turkey and the European Union (EU) in order to determine whether there is convergence between them. Given the fact that Turkey is a candidate country for the EU membership, harmonisation of Turkish and the EU AML frameworks has become increasingly important. These AML laws pose important responsibilities for the financial and legal sectors.

In order to facilitate the evaluation process, the AML regimes examined are compared in regards to various aspects, such as criminalisation of money laundering, recording and reporting obligations, enforcement and sanctions mechanisms. Findings from activity reports from the regulatory bodies as well as semi‐structured interviews conducted with relevant professionals are incorporated into the discussion.

It can be argued that the Turkish AML regime is in line with the EU AML framework. However, there is a need for government authorities to coordinate their efforts with the relevant independent regulatory professional bodies that represent the liable professionals in Turkey. While it is evident that each national regime in the EU has adopted a unique AML framework, minimum standards provided by international (e.g. the Financial Action Task Force) and regional (e.g. EU) instruments have been the main driving force behind all national laws.

The involvement of professional regulatory bodies will enhance competence to monitor compliance and provide training mechanisms and guidance for liable professionals pertaining to AML regulations.

Effectiveness of AML initiatives will enhance with improved cooperation and communication between the executive, law enforcement agencies and businesses. This will improve the reporting of suspicious financial activities and subsequent enforcement.

The paper provides an up‐to‐date account of the Turkish legal regime pertaining to AML and demonstrates its shortcomings whilst assessing it against the EU AML framework. The findings of the study contribute to the existing literature and shed light on areas for reform.

This paper aims to test the levels of anti-corruption disclosure and its implication on the banking performance of both conventional and Islamic banks listed on the Abu Dhabi Securities Exchange and Dubai Financial Market.

The authors have used the content analysis to identify the levels of anti-corruption disclosure in the banks’ annual reports. They have also used the two-steps generalized method of moments (GMM) regression applied to dynamic panel data analysis to examine the effect of the anti-corruption disclosure on the banking performance.

The empirical results show that the anti-corruption disclosure is at low levels for all banks and conventional and Islamic banks samples. The results also show no significant differences in the anti-corruption disclosure between Islamic and conventional banks. The results of the two-steps GMM regression applied to dynamic panel data analysis show a negative and significant impact of the levels of anti-corruption disclosure on the bank’s performance for both all banks and conventional banks; the results of the dynamic panel data analysis show an insignificant impact of anti-corruption discloser for the Islamic banks' sample.

The findings recommended a comprehensive framework of anti-corruption disclosure to the central banks and financial market regulators to enhance anti-corruption practices within the financial institutions to increase transparency and enhance their performance.

Fighting against anti-corruption is essential for financial institutions. This paper is the first study that examined the extent of anti-corruption levels and their effect on banking performance for both Islamic and conventional banks operates in the UAE. The findings help in enhancing reporting practices in terms of anti-corruption to improve transparency and performance in the banking sector.

The aim of this paper is to assess international efforts in combating corruption and their implications for developing countries. The paper discusses the globalized character of corruption in the modern world together with methods applicable to combat the problem.

The investigation is structured at two levels: the policies are studied at the organizational level and by sector, by looking at money laundering and bribery – two economic crimes that are widespread in the developing world. This identifies major trends in the international instruments to combat corruption and assess their efficiency. The main method is cost‐benefit analysis.

The findings of this paper are: initially positive ideas of enhancing control and prosecution of economic crime are not bringing the expected results. The criminal law enforcement approach chosen by the main international organizations – UN, World Bank, and EU – is not effective.

Until the approach of the international organizations changes and the priority is given to the principle of prevention rather than punishment, the costs of controlling economic crimes in the developing countries are unnecessarily high and not worthwhile.

Although the findings sound quite criticizing, they provide insights to possible amendments to the policies implemented.