Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]

Anti-money laundering (AML) broadly encompasses procedures, processes, laws, or regulations designed to curtail the practice of generating funds through illicit or criminal activities. Since 2001, Malaysian law enforcement agencies have stepped up their capacities and efforts to curb money launderi...

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Main Authors:	Huang, Ching Choo, Amirrudin, Mira Susanti, Ahmad Noruddin, Nur Adura, Othman, Rohana
Format:	Article
Language:	English
Published:	Accounting Research Institute & Faculty of Accountancy 2014
Subjects:	Malaysia
Online Access:	http://ir.uitm.edu.my/id/eprint/12414/ http://ir.uitm.edu.my/id/eprint/12414/1/AJ_HUANG%20CHING%20CHOO%20MAR%2014%201.pdf

id	uitm-12414
recordtype	eprints
spelling	uitm-124142016-06-30T09:03:29Z http://ir.uitm.edu.my/id/eprint/12414/ Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.] Huang, Ching Choo Amirrudin, Mira Susanti Ahmad Noruddin, Nur Adura Othman, Rohana Malaysia Malaysia Anti-money laundering (AML) broadly encompasses procedures, processes, laws, or regulations designed to curtail the practice of generating funds through illicit or criminal activities. Since 2001, Malaysian law enforcement agencies have stepped up their capacities and efforts to curb money laundering. However, implementation costs incurred on AML activities could be burdensome to the regulating, enforcement, and reporting agencies. Although these efforts are generally benefi cial, assessing their effectiveness before increasing the level of AML regulation is necessary. This paper reviews literature on various approaches used to estimate money laundering and assess the effectiveness of AML. Although different measures and models are used to estimate money laundering, no model to quantify money laundering is globally acceptable. The absence of an accurate measurement of costs incurred and the difficulty in linking benefits to AML efforts pose challenges in assessing the effectiveness of AML policy. Nevertheless, the use of both crime data and perceived data on cost and effectiveness serves as a step forward in the determination of the effectiveness of AML in Malaysia. Accounting Research Institute & Faculty of Accountancy 2014 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/12414/1/AJ_HUANG%20CHING%20CHOO%20MAR%2014%201.pdf Huang, Ching Choo and Amirrudin, Mira Susanti and Ahmad Noruddin, Nur Adura and Othman, Rohana (2014) Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]. Malaysian Accounting Review, 13 (2). pp. 109-124. ISSN 1675-4077
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Malaysia Malaysia
spellingShingle	Malaysia Malaysia Huang, Ching Choo Amirrudin, Mira Susanti Ahmad Noruddin, Nur Adura Othman, Rohana Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]
description	Anti-money laundering (AML) broadly encompasses procedures, processes, laws, or regulations designed to curtail the practice of generating funds through illicit or criminal activities. Since 2001, Malaysian law enforcement agencies have stepped up their capacities and efforts to curb money laundering. However, implementation costs incurred on AML activities could be burdensome to the regulating, enforcement, and reporting agencies. Although these efforts are generally benefi cial, assessing their effectiveness before increasing the level of AML regulation is necessary. This paper reviews literature on various approaches used to estimate money laundering and assess the effectiveness of AML. Although different measures and models are used to estimate money laundering, no model to quantify money laundering is globally acceptable. The absence of an accurate measurement of costs incurred and the difficulty in linking benefits to AML efforts pose challenges in assessing the effectiveness of AML policy. Nevertheless, the use of both crime data and perceived data on cost and effectiveness serves as a step forward in the determination of the effectiveness of AML in Malaysia.
format	Article
author	Huang, Ching Choo Amirrudin, Mira Susanti Ahmad Noruddin, Nur Adura Othman, Rohana
author_facet	Huang, Ching Choo Amirrudin, Mira Susanti Ahmad Noruddin, Nur Adura Othman, Rohana
author_sort	Huang, Ching Choo
title	Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]
title_short	Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]
title_full	Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]
title_fullStr	Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]
title_full_unstemmed	Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]
title_sort	anti-money laundering and its effectiveness / huang ching choo ... [et al.]
publisher	Accounting Research Institute & Faculty of Accountancy
publishDate	2014
url	http://ir.uitm.edu.my/id/eprint/12414/ http://ir.uitm.edu.my/id/eprint/12414/1/AJ_HUANG%20CHING%20CHOO%20MAR%2014%201.pdf
first_indexed	2023-09-18T22:49:14Z
last_indexed	2023-09-18T22:49:14Z
_version_	1777417431779639296

Anti-money laundering and its effectiveness / Huang Ching Choo ... [et al.]

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