The Money Laundry : : Regulating Criminal Finance in the Global Economy / / J. C. Sharman.
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...
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Place / Publishing House: | Ithaca, NY : : Cornell University Press, , [2011] ©2011 |
Year of Publication: | 2011 |
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Sharman, J. C., author. aut http://id.loc.gov/vocabulary/relators/aut The Money Laundry : Regulating Criminal Finance in the Global Economy / J. C. Sharman. Ithaca, NY : Cornell University Press, [2011] ©2011 1 online resource (216 p.) : 1 table text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Cornell Studies in Political Economy Frontmatter -- Contents -- Acknowledgments -- Introduction: Policy Diffusion and Anti-Money Laundering -- 1. Money Laundering and Anti-Money Laundering -- Part One. Does Anti-Money Laundering Policy Work? -- 2. An Indirect Test of Effectiveness -- 3. A Direct Test of Effectiveness -- Part Two. Why Has Anti-Money Laundering Policy Diffused? -- 4. Blacklisting -- 5. Socialization and Competition -- Conclusions: Implications for Scholarship and Policy -- Bibliography -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star 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. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022) Banks and banking, International Law and legislation. Money laundering Prevention. General Economics. International Studies. Political Science & Political History. POLITICAL SCIENCE / Political Economy. bisacsh Title is part of eBook package: De Gruyter Cornell University Press Backlist 2000-2013 9783110536157 print 9780801450181 https://doi.org/10.7591/9780801463198 https://www.degruyter.com/isbn/9780801463198 Cover https://www.degruyter.com/document/cover/isbn/9780801463198/original |
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English |
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eBook |
author |
Sharman, J. C., Sharman, J. C., |
spellingShingle |
Sharman, J. C., Sharman, J. C., The Money Laundry : Regulating Criminal Finance in the Global Economy / Cornell Studies in Political Economy Frontmatter -- Contents -- Acknowledgments -- Introduction: Policy Diffusion and Anti-Money Laundering -- 1. Money Laundering and Anti-Money Laundering -- Part One. Does Anti-Money Laundering Policy Work? -- 2. An Indirect Test of Effectiveness -- 3. A Direct Test of Effectiveness -- Part Two. Why Has Anti-Money Laundering Policy Diffused? -- 4. Blacklisting -- 5. Socialization and Competition -- Conclusions: Implications for Scholarship and Policy -- Bibliography -- Index |
author_facet |
Sharman, J. C., Sharman, J. C., |
author_variant |
j c s jc jcs j c s jc jcs |
author_role |
VerfasserIn VerfasserIn |
author_sort |
Sharman, J. C., |
title |
The Money Laundry : Regulating Criminal Finance in the Global Economy / |
title_sub |
Regulating Criminal Finance in the Global Economy / |
title_full |
The Money Laundry : Regulating Criminal Finance in the Global Economy / J. C. Sharman. |
title_fullStr |
The Money Laundry : Regulating Criminal Finance in the Global Economy / J. C. Sharman. |
title_full_unstemmed |
The Money Laundry : Regulating Criminal Finance in the Global Economy / J. C. Sharman. |
title_auth |
The Money Laundry : Regulating Criminal Finance in the Global Economy / |
title_alt |
Frontmatter -- Contents -- Acknowledgments -- Introduction: Policy Diffusion and Anti-Money Laundering -- 1. Money Laundering and Anti-Money Laundering -- Part One. Does Anti-Money Laundering Policy Work? -- 2. An Indirect Test of Effectiveness -- 3. A Direct Test of Effectiveness -- Part Two. Why Has Anti-Money Laundering Policy Diffused? -- 4. Blacklisting -- 5. Socialization and Competition -- Conclusions: Implications for Scholarship and Policy -- Bibliography -- Index |
title_new |
The Money Laundry : |
title_sort |
the money laundry : regulating criminal finance in the global economy / |
series |
Cornell Studies in Political Economy |
series2 |
Cornell Studies in Political Economy |
publisher |
Cornell University Press, |
publishDate |
2011 |
physical |
1 online resource (216 p.) : 1 table Issued also in print. |
contents |
Frontmatter -- Contents -- Acknowledgments -- Introduction: Policy Diffusion and Anti-Money Laundering -- 1. Money Laundering and Anti-Money Laundering -- Part One. Does Anti-Money Laundering Policy Work? -- 2. An Indirect Test of Effectiveness -- 3. A Direct Test of Effectiveness -- Part Two. Why Has Anti-Money Laundering Policy Diffused? -- 4. Blacklisting -- 5. Socialization and Competition -- Conclusions: Implications for Scholarship and Policy -- Bibliography -- Index |
isbn |
9780801463198 9783110536157 9780801450181 |
callnumber-first |
H - Social Science |
callnumber-subject |
HV - Social Pathology, Criminology |
callnumber-label |
HV6768 |
callnumber-sort |
HV 46768 S53 42016 |
url |
https://doi.org/10.7591/9780801463198 https://www.degruyter.com/isbn/9780801463198 https://www.degruyter.com/document/cover/isbn/9780801463198/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
360 - Social problems & social services |
dewey-ones |
364 - Criminology |
dewey-full |
364.168 |
dewey-sort |
3364.168 |
dewey-raw |
364.168 |
dewey-search |
364.168 |
doi_str_mv |
10.7591/9780801463198 |
oclc_num |
762097543 |
work_keys_str_mv |
AT sharmanjc themoneylaundryregulatingcriminalfinanceintheglobaleconomy AT sharmanjc moneylaundryregulatingcriminalfinanceintheglobaleconomy |
status_str |
n |
ids_txt_mv |
(DE-B1597)478680 (OCoLC)762097543 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Cornell University Press Backlist 2000-2013 |
is_hierarchy_title |
The Money Laundry : Regulating Criminal Finance in the Global Economy / |
container_title |
Title is part of eBook package: De Gruyter Cornell University Press Backlist 2000-2013 |
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1806143344283222016 |
fullrecord |
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