By Peter Reuter and Edwin M. Truman, Institute for International Economics, November 2004

". . . the most comprehensive treatment of money laundering to date and . . . the benchmark by which all future discussions of the subject will be assessed." Robert E. Litan, Kauffman Foundation

“. . . the most seminal study ever undertaken of the effectiveness of global efforts to deal with the growing threat to US national security and to the world financial system of money laundering. . . .” Stuart E. Eizenstat, former deputy secretary of the US Treasury

This book provides the first comprehensive effort to assess the effectiveness of the anti-money laundering (AML) regime, initially put in place to protect the integrity of financial institutions against the abuse of drug lords and criminal traffickers, and which was extended after 9/11 to include the combating of terrorism financing.

Chasing Dirty Money Official Site

Book Contents (PDFs):

Preface

Acknowledgments

1. Chasing Dirty Money

2. How Much Money is Laundered?

3. Money Laundering: Methods and Markets

4. The Anti-Money Laundering Regime

5. Combating Predicate Crimes Involved in Money Laundering

6. Protecting Financial System Integrity

7. Combating Global "Public Bads"

8. Improving the Global AML Regime

References

Glossary

Index

Originally developed to reduce drug trafficking, national and international efforts to reduce money laundering have broadened over the years to address other crimes, and most recently, terrorism. These efforts now constitute a formidable regime applied to financial institutions and transactions throughout much of the world. Yet few assessments of either the achievements or consequences of this regime have been made. Reuter and Truman (1) explore what is know about the scale and characteristics of money laundering, (2) describe the current anti–money laundering regime, (3) develop a framework for assessing the effectiveness of the regime, and (4) use that framework to assess how well the current system works and make proposals for its improvement.

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