Resource Center

  • New correspondent banking data – the decline continues at a slower pace

    Cross-border payments are vital for economic growth, international trade, global development and financial inclusion. Yet they are generally slower, more expensive, less transparent and less accessible than domestic payments. These long-standing issues have been thrown into sharp relief by improvements in domestic payments and by developers of proposals for new payment arrangements.

    Download Resource
  • Enhancing cross-border payments: building blocks of a global roadmap

    The G20 has made enhancing cross-border payments a priority during the 2020 Saudi Arabian Presidency. Faster, cheaper, more transparent and more inclusive cross-border payment services would deliver widespread benefits for citizens and economies worldwide, supporting economic growth, international trade, global development and financial inclusion.

    Download Resource
  • Dirty Money Pushed, Dirty Money Pulled. A Gravity Analysis of Anomalous Financial Statistics

    The applied literature on illicit (“dirty”) money flows increasingly uses gravity equations as a workable empirical strategy to control for characteristics of both “source” and “destination” countries. This literature lacks […]

    Download Resource
  • An Analysis of Money Laundering and Economic Growth in Trinidad and Tobago

    This paper investigates the relationship between money laundering and economic growth in Trinidad and Tobago. It utilizes annual secondary time series data for the period 1990 to 2017. The proxy […]

    Download Resource
  • De-risking’ in The Caribbean Region – a CFATF Perspective

    In the global framework for managing and mitigating money laundering and terrorist financing (ML/TF) risks, a risk-based approach (RBA) requires the adjustment of the implementation of measures in proportion to […]

    Download Resource
  • Drug Money and Bank Lending: The Unintended Consequences of Anti-Money Laundering Policies

    This paper documents a hidden cost of anti-money laundering policies. We show that a policy implemented in Colombia reduced bank deposits in high intensity drug trafficking areas, causing banks that […]

    Download Resource
  • The Data we have, and the Data we need, to Assess and More Effectively Suppress Financial Crimes

    Special sorts of conditions must exist for the creation of the special sort of criminal that he typified. I have tried to define those conditions–but unsuccessfully. All I do know […]

    Download Resource
  • A Field Experiment on Regulatory Compliance in the Finance Industry

    Via a global field experiment and associated audit study, this project tests the effectiveness of international rules mandating that banks screen out criminals’ money from the financial system. The global […]

    Download Resource
  • Who’s driving the ship? De-risking and Governance of the AML Regime

    Research on money laundering and anti-money laundering (AML) leads to common frustrations about data. Judging the effectiveness or efficiency of different interventions is impossible without reliable evidence, yet in such […]

    Download Resource
  • The Basel AML Index and Financial Crime Data

    The collection of data is an essential element of every methodology. For the Basel AML Index, the ability to collect and analyse data on issues related to money laundering and […]

    Download Resource
  • To Launder or not to Launder: Are there Positive Effects for the Economies of Countries who Launder Money?

    This paper empirically examines corporate money laundering/gambling activities from a financial perspective – the impact of money laundering/gambling on firms’ financial performance. We specifically address whether the firms associated with […]

    Download Resource
  • International Financial Regulation and Disruptions to International Trade

    Financial ties between countries provide the foundation for international trade, yet international cooperation on trade and finance remain largely separate from each other. This paper examines a key consequence of […]

    Download Resource
  • Quantitative Analysis of Adaptive Behavior in Money Laundering Patterns to Avoid Detection

    Financial institutions employ multiple resources to combat financial crimes such as money laundering and terrorism financing. Automated systems use combinations of rules or scenarios, value thresholds, peer group activity, rolling […]

    Download Resource
  • A Toolkit for Correspondent Banking Supervision

    Over recent years, de-risking practices threaten to cut off access to the global financial system for local banks in various regions of the world, therefore, it is essential to assess […]

    Download Resource
  • From Hegemony to Hegemony: “De-risking,” Indigenous Regional Banks and Regional Integration in the Caribbean Community

    The paradox of geography continues to explain much of the opportunities and challenges facing the 20-member states and territories that comprise the Caribbean Community today, including those occasioned by the […]

    Download Resource
  • Comparing Sovereign Debt Rating Consistency with Sovereign AML Rating Accuracy

    Many stakeholders in the global anti-money laundering (AML) space, including correspondent banks, rely upon explicit or de facto AML sovereign rating services. This reliance is similar to that reposed by […]

    Download Resource
  • When Wild West Met Wild East? Understanding the Special Place of the Bahamas in Russia’s Offshore Network

    The embeddedness of the Russian economy in a complex network of offshore financial centres is well-documented in academic research and official statistics. For more than two decades, Cyprus has served […]

    Download Resource
  • The EU AML/CFT List of High-Risk Third Jurisdictions: Implications and Options for The Bahamas

    This Policy Brief argues that inclusion on any future adopted European Union (EU) AML/CFT list of high-risk third jurisdictions would be problematic for The Bahamas for three main reasons. First, […]

    Download Resource
  • Who are our owners? Exploring the cross-border ownership links of European businesses to assess the risk of illicit financial flows

    This paper investigates the patterns of business ownership in Europe, using a unique dataset on the nationality of 28.7 million shareholders of companies registered in 41 European countries. By means […]

    Download Resource
  • Stocktaking exercise on ‘De-risking’ in the Caribbean region – Second Phase

    Background The XLVII CFATF Plenary, in May 2018, gave approval for a stocktaking exercise on ‘De-risking’ in the Caribbean region to be conducted. The outstanding factors to address this exercise […]

    Download Resource

External resources