Centro de Documentação da PJ
Analítico de Periódico
CD 315
Strategies for preventing illicit financial flows in developing countries [Recurso eletrónico] / Bello Umar, Martins Mustapha Abu, Zayyanu Mohammed
Journal of Money Laundering Control, Vol. 23, n. 3 (2020), p. 601-608
Ficheiro de 125 KB em formato PDF.
BRANQUEAMENTO DE CAPITAIS, CONTROLO DE TRANSACÇÕES, METODOLOGIAS
Purpose – This paper aims to critically review the strategies for prevention of illicit financial flows to and from developing countries with a view of ascertaining the most effective strategies to be selected and implemented by developing countries to stem the scourge. Design/methodology/approach – The peer-reviewed journal articles were studied; those that discussed illicit financial flows were selected and reviewed critically using the systematic quantitative assessment techniques together with an output table. Findings – The critical review deduced that enacting effective trade laws, trade regulations, creating a beneficial ownership registry, multinational companies disclosing information on business, automatic exchange of information on tax issues, the Financial Action Task Force 40 guidelines on anti-money laundering and countering financing of terrorism and domestic and international cooperation are the most reliable strategies that should be implemented by developing countries. Research limitations/implications – The wide geographic scope of developing countries, use of only high-quality databases that restricted the use of other articles and use of public sector perspective are the limitations for this paper. Originality/value – This study is amongst the limited works to discuss the most reliable and effective strategies to prevent illicit financial flows in developing countries.
