The purpose of this paper is to compare, contrast and evaluate the anti‐money laundering (AML) legislation practised by the UK, Switzerland and Germany.
Abstract
Purpose
The purpose of this paper is to compare, contrast and evaluate the anti‐money laundering (AML) legislation practised by the UK, Switzerland and Germany.
Design/methodology/approach
To facilitate the evaluation process, AML legislations and regulations of all three countries are compared based on four different aspects, i.e. criminal law, the reporting stage, the collation stage and the investigation stage.
Findings
Although specific differences and similarities between the three AML regimes are highlighted, based on the current literature, it is rather difficult to reach a valid conclusion regarding their effectiveness and efficiency.
Originality/value
A wide range of literature, in the original languages, was analyzed during the compilation of this paper.