The Money Laundry

Released on by J. C. Sharman
preview-18

  • The Money Laundry Book Detail

  • Author : J. C. Sharman
  • Release Date : 2011-10-15
  • Publisher : Cornell University Press
  • Genre : Political Science
  • Pages : 215
  • ISBN 13 : 080146319X
  • File Size : 45,45 MB
DOWNLOAD BOOK

The Money Laundry by J. C. Sharman PDF Summary

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.

Disclaimer: www.yourbookbest.com does not own The Money Laundry books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

The Money Laundry

The Money Laundry

File Size : 80,80 MB
Total View : 882 Views
DOWNLOAD

A generation ago not a single country had laws to counter money laundering; now, more countries have standardized anti–money laundering (AML) policies than ha

The Money Laundry

The Money Laundry

File Size : 32,32 MB
Total View : 8741 Views
DOWNLOAD

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

Money Laundering

Money Laundering

File Size : 24,24 MB
Total View : 8627 Views
DOWNLOAD

Many changes have occurred in the twenty-five years that have passed since the enactment of the Money Laundering Control Act of 1986. The law has been amended,