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Money laundering and terrorist financing risks and democratic governance: a global correlational analysis

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  • Amidu Kalokoh

Abstract

Purpose - This paper aims to examine the association between money laundering (ML)/terrorist financing (TF) risks (hereafter, money laundering risks) and democratic governance across 117 countries. Design/methodology/approach - A cross-sectional design was used to examine the association between ML risks and democratic governance by a quantitative approach. The findings are based on annual ratings of 117 countries on ML/TF risks and democracy while controlling for criminality and peace. The data was compiled from the Basel Anti-Money Laundering/Countering Financing Terrorism Risks Index, the Economic Intelligence Unit (Democracy Index), the Global Initiative against Transnational Organized Crimes (Criminality Index) and the Institute for Economics and Peace Index for 2020. Findings - A multiple linear regression model found a statistically significant negative association between democratic governance and ML risks (B= −0.354,t= −7.454,p=

Suggested Citation

  • Amidu Kalokoh, 2024. "Money laundering and terrorist financing risks and democratic governance: a global correlational analysis," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 27(5), pages 825-844, May.
    • Handle: RePEc:eme:jmlcpp:jmlc-09-2023-0151
    DOI: 10.1108/JMLC-09-2023-0151
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