Ill-Gotten Money and the Economy : Experiences from Malawi and Namibia.
Title:
Ill-Gotten Money and the Economy : Experiences from Malawi and Namibia.
Author:
Yikona, Stuart.
ISBN:
9780821388884
Personal Author:
Physical Description:
1 online resource (134 pages)
Series:
World Bank Studies
Contents:
Title Page -- Copyright -- Contents -- Foreword -- Acknowledgements -- Acronyms and Abbreviations -- Executive Summary -- 1. Introduction -- Concepts of Money Laundering -- "Economification" of Money Laundering -- What is AML? -- AML and Economic Development -- Research Objectives -- Outline of the Report -- 2. Methodological Framework -- Economic Effects -- Economic Effects of the Underlying Criminal and Illegal Activities -- Economic Effects of the Circulation of Ill-gotten Money -- Magnitude -- Methodology -- Countries of Focus: Malawi and Namibia -- 3. Country of Focus: Malawi -- The Malawi Economy -- The Financial Sector -- The Anti-Money Laundering (AML) System -- Sources of Ill-gotten Money -- Corruption -- Tax Fraud -- Cannabis Production -- Other Crimes for Profit -- Illegal Foreign Exchange Dealing -- Transfer Pricing -- Spending Patterns -- Policy Considerations -- 4. Country of Focus: Namibia -- The Namibian Economy -- The Financial Sector -- The Anti-Money Laundering (AML) System -- Sources of Criminal Money -- Corruption -- Organized Crime -- Tax Fraud -- Cross-border Money Flows -- Spending Patterns -- Policy Considerations -- 5. Summary, Conclusions, and Policy Considerations -- Main Findings -- General Findings -- AML and Financial Inclusion -- Abusive Behavior -- Key Recommendations -- Follow-up Research -- Back Cover.
Abstract:
Many developing countries have introduced policies to tackle ill-gotten money over the past years. Perception remains that such moves were more a result of international pressure being exercised than genuine ownership of such an agenda. There is not enough analysis and literature of how an anti-financial crime framework does (or does not) contribute to the development path of developing countries - or how best to use these tools in a developing country environment. This study was aimed at initially exploring the effects of ill-gotten money or proceeds of crime and anti-money laundering policies on economic development. The study focused on two developing countries: Malawi, (a low-income country) and Namibia (an upper-middle-income country). The starting point of this analysis is that anti-money laundering is essentially a tool to address criminal activities - and that, as a result, understanding criminal activities and how proceeds of crime impact development. The purpose of this study was: (i) to provide an initial answer to the question if and how measures to address proceeds of crime contributes to economic development; and (ii) to develop a framework that enable governments in developing countries to analyze the main sources of ill-gotten money and its effects on the economy.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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