Criminal Finance:The Political Economy of Money Laundering in a Comparative Legal Context PDF Download

Author: Kris Hinterseer
Publisher: Kluwer Law International B.V.
ISBN: 9041198644
Category : Law
Languages : en
Pages : 514

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Book Description
As the first cross-disciplinary analysis of money laundering - fully recognizing the activity's economic, political, and juridical dimensions - Criminal Finance clearly identifies a useful array of appropriate criteria that may be used to develop and implement effective control strategies. The book will be of immeasurable and immediate value to bankers, legislators, regulators, law enforcement authorities, and concerned lawyers and academics everywhere.

Author: Donato Masciandaro
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
The book examines the economics of money laundering and terrorism finance systematically. The authors present the general principles of money laundering, lay out an institutional and empirical framework for evaluating the causes and effects of money laundering phenomena in the banking and financial markets, and analyze the design of the national and international policies aimed at combating money laundering and terrorism finance. It analyzes several crucial issues, including: modelling the behaviour and process of making dirty money appear clean; hiding the originally criminal or illegal source of the economic activity; demonstrating how the financing of terrorism resembles and differs from money laundering; how the banking and financial industry can make the development of the criminal sector a preferential vehicle for money laundering; how schemes of international economics and of tax competition can be applied to black finance issues, showing that competition for criminal money can lead to a race to the bottom; identifying indicators of money-laundering attractiveness in developed and emerging countries, with a particular attention on the role of the offshore centres; and dealing with anti-money-laundering and counter-terrorism finance (AML-CTF) enforcement problems, particularly in Europe and US.

Author: J. C. Sharman
Publisher: Cornell University Press
ISBN: 080146319X
Category : Political Science
Languages : en
Pages : 215

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Book Description
A generation ago not a single country had laws to counter money laundering; now, more countries have standardized anti–money laundering (AML) policies than have armed forces. In The Money Laundry, J. C. Sharman investigates whether AML policy works, and why it has spread so rapidly to so many states with so little in common. Sharman asserts that there are few benefits to such policies but high costs, which fall especially heavily on poor countries. Sharman tests the effectiveness of AML laws by soliciting offers for just the kind of untraceable shell companies that are expressly forbidden by global standards. In practice these are readily available, and the author had no difficulty in buying the services of such companies. After dealing with providers in countries ranging from the Seychelles and Somalia to the United States and Britain, Sharman demonstrates that it is easier to form untraceable companies in large rich states than in small poor ones; the United States is the worst offender. Despite its ineffectiveness, AML policy has spread via three paths. The Financial Action Task Force, the key standard-setter and enforcer in this area, has successfully implemented a strategy of blacklisting to promote compliance. Publicly identified as noncompliant, targeted states suffered damage to their reputation. Subsequently, officials from poor countries became socialized within transnational policy networks. Finally, international banks began using the presence of AML policy as a proxy for general country risk. Developing states have responded by adopting this policy as a functionally useless but symbolically valuable way of reassuring powerful outsiders. Since the financial crisis of 2008, the G20 has used the successful methods of coercive policy diffusion pioneered in the AML realm as a model for other global governance initiatives.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
This chapter investigates the interconnectedness of financial crimes and the political economy of finance. It puts forward the argument that the political economy of an economic system is a crucial factor in determining how financial crimes are defined by law, which crimes are most likely to be more intensively enforced but also which financial crimes are most likely to be committed. It argues that financial crimes and their enforcement only “make sense” in a particular economic, legal and political setting. It further argues that this is not only true to the overall economic system, that is, whether it is based on a socialist or a capitalist logic, where the economic institutions protected by criminal law are fundamentally different, but also to different forms of capitalism.

Author: Nicholas Ryder
Publisher: Routledge
ISBN: 1317964365
Category : Law
Languages : en
Pages : 189

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Book Description
Many commentators, regulatory agencies and politicians have blamed the risky behaviour of both financial institutions and their actors for the collapse of the United States sub-prime mortgage market which in turn precipitated the global 'Credit Crunch'. This edited volume explores how financial crime played a significant role in the global economic crisis. The volume features contributions from internationally renowned academic and practitioner experts in the field who pinpoint some of the most important facets of financial crime which have emerged over recent years. Key subjects include: the possibility of criminalising reckless risk-taking on the financial markets; the duty of banks to prevent money-laundering and corruption; the growth of the Shadow Banking System; and the manipulation of LIBOR by banks. The book illustrates the global nature of financial crime, and highlights the complex relationships between regulatory bodies, law enforcement agencies and private actors in the attempt to limit the harmful effect of white collar crime on the stability of the financial sector. This book will be of great use and interest to scholars, practitioners and students within the field of financial crime, banking and finance law, and international political economy.

Author: Mary Michelle Gallant
Publisher: Edward Elgar Publishing
ISBN: 9781843769514
Category : Commercial crimes
Languages : en
Pages : 0

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Book Description
The pursuit of the financial proceeds of criminal activity has become a central theme of contemporary crime control. Initially conceived to tackle the global trade in illegal drugs, these methods have been more recently employed in the context of terrorism. This work offers a judicious account of the national and international strategies which seek to cope with crime by attacking its financial underpinnings. The book focuses on the increasingly civil legal orientation of these strategies - a sea change from criminal prosecutions to civil legal instruments. The author focuses on developments of the civil strategy in the US and the UK beginning with its historical origins. The work reveals the contradictions that animate the civil approach to criminal finance and discloses the failure of civil devices, as presently constituted, to comply with rights. It bridges the gap between two jurisdictions prominent in this area; the United States and the United Kingdom. This comparative element distinguishes the project from other work in the field that focuses on a single jurisdiction. Critical in its perspective, the work brings balance and reflection to an emergent area of national and international interest. Money Laundering and the Proceeds of Crime analyzes rather than merely describes the proceeds of crime laws, anti-money laundering regimes and the civil legal approach to criminal finance and as such will have a wide readership. The book will appeal to, amongst others, government actors involved in constructing instruments to confront criminal finance, scholars and researchers working in the area and banks, financial institutions, lawyers and other professional private actors charged with anti-money laundering functions.

Author: Jason Campbell Sharman
Publisher: Cornell Studies in Political Economy
ISBN: 9780801450181
Category : Business & Economics
Languages : en
Pages : 200

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Book Description
In The Money Laundry, J. C. Sharman investigates whether anti–money laundering policy works, and why it has spread so rapidly to so many states with so little in common.

Author: Emmanuel Ioannides
Publisher: Routledge
ISBN: 1317131347
Category : Law
Languages : en
Pages : 200

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Book Description
This book critically analyses fundamental principles of EU law for the control of international economic crime. Discussing how the reporting system and the exchange of information are at the heart of the global anti-money laundering regime, the study also looks at the inferential force of financial intelligence in criminal proceedings and the responsibilities this places on prosecutors and criminals alike. The author closely examines the application of Article 8(2) of the European Court of Human Rights for the retention and movement of the fingerprints, cellular samples and DNA profiles of unconvicted persons, and argues the incompatibility with the ECHR, along with the effect of socially stigmatising unconvicted persons. The work concludes with exploring how financial regulation has, inter alia, shifted responsibility to businesses and financial institutions to become more transparent and accountable to financial regulators and tax authorities. This critical analysis is essential reading for law students and the Judicial Body, as well as financial crime investigators and regulators.

Author: Rohan D. Clarke
Publisher: Taylor & Francis
ISBN: 1000785963
Category : Law
Languages : en
Pages : 228

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Book Description
This book provokes fresh ways of thinking about small developing States within the transnational legal order for combating money laundering and the financing of terrorism and proliferation (TAMLO). From the global wars on drugs and terror to journalistic exposés such as the ‘Paradise’, ‘Panama’ and ‘Pandora’ Papers, the Commonwealth Caribbean has been discursively stigmatised as a mythical island paradise of ‘rogue’ States. Not infrequently, their exercise of regulatory self-determination has been presented as the selling of their economic sovereignty to facilitate shady business deals and illicit finance from high-net-worth individuals, kleptocrats, tax-dodgers, organised crime networks and terrorist financiers. This book challenges conventional wisdom that Commonwealth Caribbean States are among the ‘weakest links’ within the global ecosystem to counter illicit finance. It achieves this by unmasking latent interests, and problematising coercive extraterritorial regulatory and surveillance practices, along the onshore/offshore and Global North/South axes. Interdisciplinary in its outlook, the book will appeal to policymakers, regulatory and supervisory authorities, academics and students concerned with better understanding legal and development policy issues related to risk-based regulatory governance of illicit finance. The book also provides an interesting exposition of substantive legal and policy issues arising from money laundering related to corruption and politically exposed persons, offshore finance, and offshore Internet gambling services.

Author: R.C.H. Alexander
Publisher: Routledge
ISBN: 1317116054
Category : Law
Languages : en
Pages : 289

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Book Description
This work presents a comparative study of the provisions relating to insider dealing under the EC Insider Dealing Directive. The volume begins with a discussion of the rationale for regulating financial services in general and controlling insider dealing and money-laundering in particular. It examines the definition of an insider and of inside information and the various criminal offenses relating to insider dealing. The role of money-laundering is also recognized and the anti-money laundering regime as well as the considerable impact on the financial sector is discussed in detail. The work assesses the efficacy of criminal law in controlling insider dealing and considers the increasing trend to deal with it by means of civil/administrative measures.