Abstract: Abstract Individuals involved in bribery and corruption will constantly seek to exploit new areas and opportunities to offend and launder their corruption proceeds and evade the scrutiny of law enforcement and other government agencies. The broad objective of this chapter is to examine whether cryptocurrencies and other virtual methods are potential instruments for laundering corruption proceeds. First, we review 75 FATF and FATF-style regional bodies’ mutual evaluation reports and identify compliance issues in areas that might afford exploitative opportunities for bribery and corruption. We then discuss the characteristics of crypto and virtual currencies that may be exploited to launder corruption proceeds. We propose a conceptual intelligence-led AML/CTF strategy, and identify three potential research questions to provide evidence and address specific gaps in knowledge concerning corruption, and money laundering/terrorism financing risks.
Publication Year: 2015
Publication Date: 2015-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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Cited By Count: 55
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