Chasing dirty money: domestic and international measures against money laundering

Abstract

PurposeThe purpose of this paper is to provide an overview and discuss the development of the UK and international measures against money laundering.Design/methodology/approachThis paper examines the anti‐money laundering measures and the activities of regulatory and professional bodies both domestically and internationally.FindingsDespite the enormous efforts and co‐operation by the governments, law enforcement agencies, professional bodies and private financial institutions, money laundering and terrorist financing remain as threatening issues. There is also the concern that stricter regulation will only add burden on the financial industry.Originality/valueThis paper examines the development of different measures against money laundering and thereby provides assistance to policy makers in the formulation and implementation of effective anti‐money laundering mechanisms.