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Behavioral Economics and Lessons for FCPA, AML, and Tax Compliance
July 10th, 2013
Under the standard economic theory of crime, compliance with laws is a mix of two important factors. One: the penalty that results if the offender is caught and 2: the probability of the offender getting caught in the first place. If the fine is proportional to the crime, but the probability of being caught is almost certain, few will risk it. In the same way, if the probability of being caught is low, but the penalty is very high, again few will risk it. Gary Becker—the libertarian economist who wrote Crime and Punishment: An Economic Approach, an...
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Patterns of Abuse: Are Anti-Money Laundering Compliance Failures at U.S. Banks an Issue of Political Will?
March 6th, 2013
WASHINGTON, DC – In the wake of recent money laundering compliance failures at major U.S. and international banks, the U.S. Senate Committee on Banking, Housing, and Urban Affairs is currently scheduled to hold a hearing Thursday, March 7, 2013 entitled, “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” Heather Lowe, Legal Counsel and Director of Government Affairs at Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization, issued the following statement in advance of the hearing.
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Los países necesitan dinero para luchar contra #Covid19. ¿Abordarán la evasión fiscal, reducirán los FFIs y adoptar… https://t.co/8a8hSVM5Nf
- Monday Jan 24 - 4:11pm

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