Politically exposed persons: AML, taking the profit out of corruption and problems for the banks

摘要

Purpose – The purpose of this paper is to show how political corruption may be combated through measures aimed at making it less profitable and more subjected to public controls via banking reports of all relevant deposits. Design/methodology/approach – The paper provides a brief description of a few European legal Systems, Italian in particular. Findings – The paper finds that organized crime can only be efficiently tackled and impoverished of its economic enticements if political, institutional and economical complicities are publicly exposed and forced to be halted; while society, and younger generations in particular, are made fully aware that the embrace mafia tries to impose on them is and will always be deadly. Practical implications – Evaluation of the possible solutions in terms of legislative reform. Originality/value – The paper describes a novel standpoint.