Review of J. C. Sharman, The Money Laundry: Regulating Criminal Finance in the Global Economy
American Journal of Sociology 118(3):850-852, 2012
4 Pages Posted: 12 Jun 2013 Last revised: 19 Jun 2013
Date Written: 2012
Why have 180 countries around the world, including the tiny Pacific island nation of Nauru, with a population of 11,000, no financial institutions, 90% unemployment, and a national debt 16 times its GDP, adopted anti–money laundering policies? Why, when the world’s financial elites suspect that these policies are ineffective, and cost more in regulatory and compliance effort than they save by preventing money laundering, would so many countries jump on the bandwagon?
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