Chasing Dirty Money: The Fight Against Money Laundering / Edition 1

by Peter Reuter, Edwin Truman

Overview

Originally developed to reduce drug trafficking, national and international efforts to reduce money laundering have broadened over the years to address other crimes, and most recently, terrorism. These efforts now constitute a formidable regime applied to financial institutions and transactions throughout much of the world. Yet few assessments of either the achievements or consequences of this regime have been made. Reuter and Truman (1) explore what is know about the scale and characteristics of money laundering, (2) describe the current anti-money laundering regime, (3) develop a framework for assessing the effectiveness of the regime, and (4) use that framework to assess how well the current system works and make proposals for its improvement.

Product Details

ISBN-13:	9780881323702
Publisher:	Peterson Institute for International Economics
Publication date:	11/16/2004
Edition description:	New Edition
Pages:	248
Product dimensions:	6.00(w) x 9.00(h) x (d)
Age Range:	18 Years

About the Author

Edwin M. Truman, nonresident senior fellow since July 2013, joined the Peterson Institute for International Economics as senior fellow in 2001. Previously he served as assistant secretary of the US Treasury for International Affairs from December 1998 to January 2001 and returned as counselor to the secretary March–May 2009. He directed the Division of International Finance of the Board of Governors of the Federal Reserve System from 1977 to 1998. From 1983 to 1998, he was one of three economists on the staff of the Federal Open Market Committee.

Table of Contents

Preface
Acknowledgments
1. Chasing Dirty Money
2. How Much Money Is Laundered?
3. Money Laundering: Methods and Markets
4. The Anti–Money Laundering Regime
5. Combating Predicate Crimes Involved in Money Laundering
6. Protecting Financial System Integrity
7. Combating Global "Public Bads"
8. Improving the Global AML Regime
References
Glossary and Acronyms
Index

What People are Saying About This

Stuart E. Eizenstat

Stuart E. Eizenstat, former deputy secretary of the US Treasury
". . . the most seminal study ever undertaken of the effectiveness of global efforts to deal with the growing threat to US national security and to the world financial system of money laundering. . . ."

Robert E. Litan

Robert E. Litan, Kauffman Foundation
". . . the most comprehensive treatment of money laundering to date and . . . the benchmark by which all future discussions of the subject will be assessed."

Editorial Reviews

Persons interested in AML policy will find the analyses and discussions in the book enlightening.

International Enforcement Law Reporter

[T]he most comprehensive treatment of money laundering to date and... the benchmark by which all future discussions of the subject will be assessed.

Robert E. Litan

...the most seminal study ever undertaken of the effectiveness of global efforts to deal with the growing threat to US national security and to the world financial system of money laundering.

Stuart E. Eizenstat

Successful criminal activities produce lots of cash, which must be "laundered" to be useful and to obscure its illegal origins. Like many other activities, money laundering has become increasingly international, which has spurred attempts at coordinated responses by financial and law enforcement authorities. This book reviews and examines, in greater detail than some readers will want, the variegated nature of money laundering and the response of national governments, serving as a useful source of analysis and information from diverse sources. As with most shady illegal activities, limited information is available. The authors present much material, and discuss the difficulties of evaluating quantitatively or even qualitatively the various measures that have been adopted in the absence of hard and systematic evidence of their impacts. But what is clear is that following the money across national boundaries has pushed authorities to much closer transnational cooperation.

Foreign Affairs