Journal of Money Laundering Control | VOL. 16
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A burning desire

Publication Date Oct 7, 2013

Abstract

Purpose – This article purports to show that an adequate anti-money laundering (AML) regime must be integrated into the carbon emissions market industry in order for it to function effectively, meet its intended goals, and prevent criminals from developing innovative methods to take advantage of particular vulnerabilities this unique market type has created. Design/methodology/approach – This article discusses the formation of the international carbon emissions marketplace. It posits that critical to the formation and effective operation of any carbon emissions trading market is the simultaneous coexistence of an AML regime preventing criminals from taking advantage of legislative deficiencies. Lastly, the article formulates and analyzes emerging criminal typology threats to which current, developing, and future carbon emissions markets are and will be subject. Findings – Under the EU ETS, effective AML safeguards were not initially included in the implementation and formation of the EU's carbon emissions trading market, subjecting it to numerous threats and abuses from criminals. The lack of an effective AML regime has resulted in novel and unique criminal typology threats that are currently emerging and need to be addressed to prevent abuses in new and existing carbon emissions trading markets. Research limitations/implications ...

Concepts

EU's Carbon Emissions Carbon Emissions Criminal Typology Effective Safeguards EU's Carbon Formation Of Emissions EU ETS Anti-money Laundering Regime Current Carbon Emissions Laundering Regime

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