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019 _a(OCoLC)979833664
020 _a9780801450181
_qprint
020 _a9780801463198
_qPDF
024 7 _a10.7591/9780801463198
_2doi
035 _a(DE-B1597)9780801463198
035 _a(DE-B1597)478680
035 _a(OCoLC)762097543
040 _aDE-B1597
_beng
_cDE-B1597
_erda
050 4 _aHV6768
_b.S53 2016
072 7 _aPOL023000
_2bisacsh
082 0 4 _a364.168
_223
084 _aonline - DeGruyter
100 1 _aSharman, J. C.
_eautore
245 1 4 _aThe Money Laundry :
_bRegulating Criminal Finance in the Global Economy /
_cJ. C. Sharman.
264 1 _aIthaca, NY :
_bCornell University Press,
_c[2011]
264 4 _c©2011
300 _a1 online resource (216 p.) :
_b1 table
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 0 _aCornell Studies in Political Economy
505 0 0 _tFrontmatter --
_tContents --
_tAcknowledgments --
_tIntroduction: Policy Diffusion and Anti-Money Laundering --
_t1. Money Laundering and Anti-Money Laundering --
_tPart One. Does Anti-Money Laundering Policy Work? --
_t2. An Indirect Test of Effectiveness --
_t3. A Direct Test of Effectiveness --
_tPart Two. Why Has Anti-Money Laundering Policy Diffused? --
_t4. Blacklisting --
_t5. Socialization and Competition --
_tConclusions: Implications for Scholarship and Policy --
_tBibliography --
_tIndex
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aA 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.
530 _aIssued also in print.
538 _aMode of access: Internet via World Wide Web.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022)
650 0 _aBanks and banking, International
_xLaw and legislation.
650 0 _aMoney laundering
_xPrevention.
650 4 _aGeneral Economics.
650 4 _aInternational Studies.
650 4 _aPolitical Science & Political History.
650 7 _aPOLITICAL SCIENCE / Political Economy.
_2bisacsh
850 _aIT-RoAPU
856 4 0 _uhttps://doi.org/10.7591/9780801463198
856 4 0 _uhttps://www.degruyter.com/isbn/9780801463198
856 4 2 _3Cover
_uhttps://www.degruyter.com/document/cover/isbn/9780801463198/original
942 _cEB
999 _c197529
_d197529