Hetzel, Florian Jürgen; (2023) A Classification of Money Laundering Incidents. Doctoral thesis (Ph.D), UCL (University College London).

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Abstract

Money laundering is typically described as a three-stage process, including the placement, layering, and integration of criminal assets. However, the precision of the so-called three-stage model is doubtful, with significant shortcomings in the theoretical foundation, empirical support, and research practice. Previous research has failed to trigger a scientific debate about the numerous manifestations of money laundering going beyond the three-stage model. This thesis introduces a new conceptual framework in which money laundering incidents comprise properties from crime events and their immediate environment. The conceptual framework was developed in an iterative process between data and crime science theory. Original data was gathered using a quantitative approach to content analysis applied to 180 full judgment transcripts from the Court of Appeal and Administrative Court of England and Wales (1997- 2017). In a series of studies, the money laundering properties outlined in court transcripts were identified, conceptualised, and refined from the crime science perspective. In the last step, money laundering incidents were classified based on the hierarchical clustering of information from court records. The classification of money laundering incidents shows little resemblance with the standard three-stage model and offers a new viewpoint on how money laundering works. The novel approach enables researchers and practitioners to consider a broader range of properties, improving the examination and prevention of money laundering.

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