The Governance of Money Laundering

    Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review

    Abstract

    What are the drivers behind the anti-money laundering (AML) governance framework? Who are the actors and institutions, and what is the policy content? This chapter provides an overview of the processes and mechanisms of AML policy-making. AML is often presented as a financial problem, and something, moreover, that is key to debates about international political economy (IPE) since it goes to the heart of the integrity of the financial system and also, at least in principle, aims to impose controls on the movement of money. Yet, as a policy concern, thinking about money laundering was developed away from traditional settings for the regulation of global finance. Instead, AML policies were driven by and linked to the public policy objectives of law and order. As a result, the governance of money laundering encompasses a broad set of goals, techniques and professional knowledge. It brings together different types of official bodies and private institutions, more or less international in their orientation. Reconciling their aims and building a global regime that can translate into effective and tailored policies on the ground is thus a major challenge for the governors of money laundering. This challenge is made more acute by the lack of appropriate success criteria. By its very nature, AML is an issue area where defining and assessing the size of the problem is difficult enough: there is no reliable methodology for estimating the amounts laundered and much criminal activity behind money laundering remains undetected.
    What are the drivers behind the anti-money laundering (AML) governance framework? Who are the actors and institutions, and what is the policy content? This chapter provides an overview of the processes and mechanisms of AML policy-making. AML is often presented as a financial problem, and something, moreover, that is key to debates about international political economy (IPE) since it goes to the heart of the integrity of the financial system and also, at least in principle, aims to impose controls on the movement of money. Yet, as a policy concern, thinking about money laundering was developed away from traditional settings for the regulation of global finance. Instead, AML policies were driven by and linked to the public policy objectives of law and order. As a result, the governance of money laundering encompasses a broad set of goals, techniques and professional knowledge. It brings together different types of official bodies and private institutions, more or less international in their orientation. Reconciling their aims and building a global regime that can translate into effective and tailored policies on the ground is thus a major challenge for the governors of money laundering. This challenge is made more acute by the lack of appropriate success criteria. By its very nature, AML is an issue area where defining and assessing the size of the problem is difficult enough: there is no reliable methodology for estimating the amounts laundered and much criminal activity behind money laundering remains undetected.
    LanguageEnglish
    Title of host publicationHandbook of the International Political Economy of Governance
    EditorsAnthony Payne, Nicola Phillips
    Place of PublicationCheltenham
    PublisherEdward Elgar Publishing
    Date25 Apr 2014
    Pages168–183
    Chapter9
    ISBN (Print)9780857933478
    ISBN (Electronic)9780857933485
    DOIs
    StatePublished - 25 Apr 2014
    SeriesHandbooks of Research on International Political Economy series
    Number1

    Keywords

      Cite this

      Tsingou, E. (2014). The Governance of Money Laundering. In A. Payne, & N. Phillips (Eds.), Handbook of the International Political Economy of Governance (pp. 168–183). Cheltenham: Edward Elgar Publishing. Handbooks of Research on International Political Economy series, No. 1, DOI: 10.4337/9780857933485.00016
      Tsingou, Eleni. / The Governance of Money Laundering. Handbook of the International Political Economy of Governance. editor / Anthony Payne ; Nicola Phillips. Cheltenham : Edward Elgar Publishing, 2014. pp. 168–183 (Handbooks of Research on International Political Economy series; No. 1).
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      abstract = "What are the drivers behind the anti-money laundering (AML) governance framework? Who are the actors and institutions, and what is the policy content? This chapter provides an overview of the processes and mechanisms of AML policy-making. AML is often presented as a financial problem, and something, moreover, that is key to debates about international political economy (IPE) since it goes to the heart of the integrity of the financial system and also, at least in principle, aims to impose controls on the movement of money. Yet, as a policy concern, thinking about money laundering was developed away from traditional settings for the regulation of global finance. Instead, AML policies were driven by and linked to the public policy objectives of law and order. As a result, the governance of money laundering encompasses a broad set of goals, techniques and professional knowledge. It brings together different types of official bodies and private institutions, more or less international in their orientation. Reconciling their aims and building a global regime that can translate into effective and tailored policies on the ground is thus a major challenge for the governors of money laundering. This challenge is made more acute by the lack of appropriate success criteria. By its very nature, AML is an issue area where defining and assessing the size of the problem is difficult enough: there is no reliable methodology for estimating the amounts laundered and much criminal activity behind money laundering remains undetected.",
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      Tsingou, E 2014, The Governance of Money Laundering. in A Payne & N Phillips (eds), Handbook of the International Political Economy of Governance. Edward Elgar Publishing, Cheltenham, Handbooks of Research on International Political Economy series, no. 1, pp. 168–183. DOI: 10.4337/9780857933485.00016

      The Governance of Money Laundering. / Tsingou, Eleni.

      Handbook of the International Political Economy of Governance. ed. / Anthony Payne; Nicola Phillips. Cheltenham : Edward Elgar Publishing, 2014. p. 168–183.

      Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review

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      AB - What are the drivers behind the anti-money laundering (AML) governance framework? Who are the actors and institutions, and what is the policy content? This chapter provides an overview of the processes and mechanisms of AML policy-making. AML is often presented as a financial problem, and something, moreover, that is key to debates about international political economy (IPE) since it goes to the heart of the integrity of the financial system and also, at least in principle, aims to impose controls on the movement of money. Yet, as a policy concern, thinking about money laundering was developed away from traditional settings for the regulation of global finance. Instead, AML policies were driven by and linked to the public policy objectives of law and order. As a result, the governance of money laundering encompasses a broad set of goals, techniques and professional knowledge. It brings together different types of official bodies and private institutions, more or less international in their orientation. Reconciling their aims and building a global regime that can translate into effective and tailored policies on the ground is thus a major challenge for the governors of money laundering. This challenge is made more acute by the lack of appropriate success criteria. By its very nature, AML is an issue area where defining and assessing the size of the problem is difficult enough: there is no reliable methodology for estimating the amounts laundered and much criminal activity behind money laundering remains undetected.

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      Tsingou E. The Governance of Money Laundering. In Payne A, Phillips N, editors, Handbook of the International Political Economy of Governance. Cheltenham: Edward Elgar Publishing. 2014. p. 168–183. (Handbooks of Research on International Political Economy series; No. 1). Available from, DOI: 10.4337/9780857933485.00016