Purpose

This paper aims to provide a more nuanced understanding of the effectiveness of the anti-money laundering (AML) regime in the UK and explore opportunities to improve policy and performance.

Design/methodology/approach

Qualitative research design using semi-structured interviews and a focus group with practitioners from both public and private sectors.

Findings

This paper identifies preventive measures are underfunded by the public sector; there is a disconnect between the regulatory requirement and the regulators’ supervisory approach leading to the ineffective application of the risk-based approach; and authorities have limited ability to stop low-utility reports. Increased collaboration across institutions and sectors, better utilisation of innovative technologies and a sustainable funding plan are needed to drive a collective response to money laundering.

Research limitations/implications

Few practitioners in the industry have the knowledge and expertise to discuss the topic at a strategic level and participants were limited (n = 8).

Practical implications

This paper adds to the growing corpus of research showing that the AML regime in the UK is ineffective and needs reform.

Social implications

This paper encourages practitioners to improve the AML regime, this research contributes to the reform of the existing measures against financial crime.

Originality/value

This paper presents new data from AML practitioners to provide a better understanding of the limitations of the AML regime in the UK.

中文翻译：

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英国的反洗钱：建立更有效制度的新方向

目的

本文旨在更细致地了解英国反洗钱 (AML) 制度的有效性，并探索改进政策和绩效的机会。

设计/方法/方法

使用半结构化访谈和来自公共和私营部门的从业者的焦点小组进行定性研究设计。

发现

本文指出公共部门对预防措施的资金不足；监管要求与监管方法之间存在脱节，导致基于风险的方法的应用无效；当局阻止低效报告的能力有限。需要加强机构和部门之间的合作，更好地利用创新技术和可持续的筹资计划，以推动集体应对洗钱活动。

研究限制/影响

业内很少有从业者具备在战略层面讨论该主题的知识和专长，而且参与者有限（n = 8）。

实际影响

这篇论文增加了越来越多的研究表明英国的反洗钱制度是无效的，需要改革。

社会影响

本文鼓励从业人员完善反洗钱制度，本研究有助于改革现有打击金融犯罪的措施。

原创性/价值

本文介绍了来自反洗钱从业者的新数据，以更好地了解英国反洗钱制度的局限性。