Globalization and Impact on Money Laundering
ANTI-MONEY LAUNDERING
The Controllability of Money Laundering: A Global Perspective
Table of Contents
Abstract 3 1.0 Introduction 4 2.0 Background 6
3.0 Literature Review 3.1 A study of Country size and the incentive to tolerate money laundering 8 3.2 Outsourcing and Insourcing Crime: The Political Economy of Globalized Crime 10 3.3 Crackdown on Money Laundering: A Comparative Analysis of the Feasibility and Effectiveness of Domestic and Multilateral Policy Reforms 12 3.4 The UN Anti Corruption Convention and Money Laundering 14 4.0 Analysis 14 5.0 Conclusion 17
6.0 Reference List 19
Abstract
In an every changing global economy, crime is increasing. Money laundering is the tool which criminals use to obtain their proceeds. With increased globalization, the lack of consistent worldwide regulations disallows anti-money laundering to be controlled effectively. In this paper, various research articles will be examined to determine the impact international measures and the UN has on anti-corruption measures, the impact of the political economy on crime, and the findings on correlations between country size and tolerating money laundering. It concludes by addressing the lack of synchronization of regulations and makes recommendations to help control it.
1.0 Introduction
The terrorist attack in the US on Sept 11, 2001 was one of the most horrifying and shocking events in the US. Not only did it bring awareness to a greater need for legislation to combat terrorism, but it also brought the realization that terrorism needs to be stopped at its financial root. The legislation that was brought in is more commonly known as the Patriot Act. The US proclaimed a global war on terrorism. There was no way to punish the terrorists for their actions as they had already died. The focus then shifted to those who funded the crimes and financially supported the terrorists. This led to an increased focus on money laundering.
The Controllability of Money Laundering: A Global Perspective
Table of Contents
Abstract 3 1.0 Introduction 4 2.0 Background 6
3.0 Literature Review 3.1 A study of Country size and the incentive to tolerate money laundering 8 3.2 Outsourcing and Insourcing Crime: The Political Economy of Globalized Crime 10 3.3 Crackdown on Money Laundering: A Comparative Analysis of the Feasibility and Effectiveness of Domestic and Multilateral Policy Reforms 12 3.4 The UN Anti Corruption Convention and Money Laundering 14 4.0 Analysis 14 5.0 Conclusion 17
6.0 Reference List 19
Abstract
In an every changing global economy, crime is increasing. Money laundering is the tool which criminals use to obtain their proceeds. With increased globalization, the lack of consistent worldwide regulations disallows anti-money laundering to be controlled effectively. In this paper, various research articles will be examined to determine the impact international measures and the UN has on anti-corruption measures, the impact of the political economy on crime, and the findings on correlations between country size and tolerating money laundering. It concludes by addressing the lack of synchronization of regulations and makes recommendations to help control it.
1.0 Introduction
The terrorist attack in the US on Sept 11, 2001 was one of the most horrifying and shocking events in the US. Not only did it bring awareness to a greater need for legislation to combat terrorism, but it also brought the realization that terrorism needs to be stopped at its financial root. The legislation that was brought in is more commonly known as the Patriot Act. The US proclaimed a global war on terrorism. There was no way to punish the terrorists for their actions as they had already died. The focus then shifted to those who funded the crimes and financially supported the terrorists. This led to an increased focus on money laundering.