| dc.description.abstract | The book has been precisely written to strike a balanced approach to the study
of money laundering in the asymmetric global marketplace. It underscores
the importance and challenges of harnessing a global anti-money laundering
framework, taking into account the dynamics of development in less developed
economies. In conceptualizing the need for a global anti-money laundering
framework, the book highlights a dichotomy of challenges. First, there are
challenges in relation to the dynamics of the market economy such as deregulation,
liberalization and conflict of laws. Secondly, there are challenges inherent in
the domestic economy such as corruption, general systemic failure and lack of
infrastructural capacity. In deconstructing the aforementioned challenges, the
book delineates a need to consolidate the existing global anti-money laundering/
combating the financing of terrorism (AML/CFT) framework so that it is capable
of delivering the envisaged AML/CFT standards globally. For the global anti money laundering framework to work globally, it should be designed with an
ethos which reflects the prevailing global climate in which it operates. | en_US |
