Anti-money laundering and counter-terrorism financing across the globe: a comparative study of regulatory action

• Russell G. Smith, Carolyn Budd, Julie Walters, and others
• Australian Institute of Criminology

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10 February 2012The primary aims of those who commit economic crimes are to secure a financial advantage and to be able to make use of stolen funds without being detected by police and regulatory agencies.

Many criminals, but by no means all, seek to disguise the origins of their criminally derived funds by engaging in a process of money laundering. Others, however, simply spend the money obtained with little attempt at concealment—which often leads to detection by police then prosecution and punishment.

Organised criminals, in particular, see many benefits in money laundering, which include the ability to enhance their lifestyle and to enable the profits of their crimes to be re-invested in future criminal activities or in legitimate business operations.