White-Collar Crime at 75: Risk Assessment Models and their Validity in Combating Money Laundering and Corruption

Session Submission Type: Complete Thematic Panel

Abstract

The importance of risk assessment models in the field of money laundering and corruption has been stressed once again by FATF 2012 Recommendations, OECD, IMF, World Bank and by the EU Commission in the recently approved 4th EU AML Directive. They allow a better identification and measurement of the risks of money laundering and corruption, leading to more focused investigations and prevention activities. However, despite the general agreement on the usefulness of these exercises, the number of public and private institutions implementing them is still low. Why? Are these models really useful? How should they be designed? What variables should they take into account? This thematic panel provides a review of international experiences in the field, highlighting strengths and weaknesses of risk assessment exercises.

Sub Unit

• Area II. Types of Offending and Victimization / 22. White Collar, Occupational, Organizational and Corporate Crime

Individual Presentations

• Corruption in Rich Countries - Adam Graycar, Australian National University

• Addressing the Threat of Fraud and Corruption in Public Procurement: Review of State of the Art Approaches - Alexander Stoyanov, Center for the Study of Democracy

• Past, present and future of Risk assessment models in corruption and money laundering - Stefano Caneppele, Università Cattolica - Transcrime; Michele Riccardi, Università Cattolica - Transcrime; Ernesto Ugo Savona, Università Cattolica - Transcrime

Chair

• Ernesto Ugo Savona, Università Cattolica - Transcrime

Discussant

• Michael Levi, Cardiff University