A Policy Implementation Analysis of Money Laundering Policies: Anti-Money Laundering and Countering Terrorism Financing


Kapti A., Demir O. O., Uryan Y.

NATO Advanced Research Workshop on Developing Prevention Strategies and Tactics in Countering Radicalization, Antalya, Turkey, 7 - 09 December 2010, vol.87, pp.127-141 identifier

  • Publication Type: Conference Paper / Full Text
  • Volume: 87
  • Doi Number: 10.3233/978-1-60750-824-3-127
  • City: Antalya
  • Country: Turkey
  • Page Numbers: pp.127-141
  • Police Academy Affiliated: No

Abstract

This research examines problems and gaps existing in implementation process of money laundering policies from a policy implementation perspective and provides suggestions for the effectiveness of the policy implementation. Money laundering problem emerged as a serious threat for the countries because it was recognized as the primary source to contribute terrorist financing right after 9/11. New money laundering regulations and reformations were formulated and implemented by national and international entities after 9/11 in order to exterminate the ways of terrorist financing. The US Government and the Financial Action Task Force (FATF) have played major role to reform money laundering policies during this period. However, dynamic structure of globalized financial and social world produced inconsistent trends with the implementation of policies in the field by creating new gaps and threats against money laundering policies. Terrorist groups have the ability to track gaps in the systems and try to be financed with new techniques and technologies. Especially, technological improvements mitigate the process since money laundering policies are not dynamic.