PRISMA-based systematic review on anti-money laundering: An evidence of regulation from a developing economy

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Abstract

The present study aims to assess the laws, procedures, and enforcement mechanisms pertaining to anti-money laundering (AML) in Bangladesh. The present study aims to investigate the effectiveness of AML strategies and regulations in Bangladesh in terms of their ability to prevent, identify, and prosecute instances of money laundering. The paper offers evidence-based AML framework improvements for Bangladesh. The preferred reporting items for systematic reviews and meta-analyses (PRISMA) of 2020 framework recommends grouping papers using the Scopus, Web of Sciences, PubMed, DOAJ, and Scimago databases. During the analysis, the researchers obtained 1870 articles from the aforementioned five databases. Ultimately, they identified a total of 110 research papers, which included 70 recent review studies and 40 report studies on AML. They synthesize and discuss key findings related to AML practices, regulatory frameworks, enforcement mechanisms, and the effectiveness of AML measures in deterring financial crimes in developing economies. This review article offers significant insights for policymakers, regulators, financial institutions, and scholars involved in AML activities, contributing to the discussion on combating financial crimes in developing economies.

Keywords: Anti-Money Laundering, PRISMA, Systematic Review, Financial Crime, Anti-Money Laundering Prevention, Developing Economy

Authors’ individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

Declaration of conflicting interests: The Author declares that there is no conflict of interest.

JEL Classification: G1, G2, G17

Received: 09.05.2024
Revised: 09.09.2024; 17.10.2024; 01.04.2025
Accepted: 29.04.2025
Published online: 02.05.2025

How to cite this paper: Hossain, R. (2025). PRISMA-based systematic review on anti-money laundering: An evidence of regulation from a developing economy. Journal of Governance & Regulation, 14(2), 155–165. https://doi.org/10.22495/jgrv14i2art16