The Money Laundry: Regulating Criminal Finance in the Global Economy by J.C. Sharman (Cornell U. Press, 200 pp., 2011, ISBN 978-0-8014-5018-1)

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Wednesday, February 1, 2012
Author: 
Bruce Zagaris
Volume: 
28
Issue: 
2
Abstract: 
  This work discusses anti-money laundering (AML) policies and their lack of impacting the level of crime.  The book reviews the utility of the AML rules by the author posing as a would-be money launderer and soliciting offers for prohibited anonymous shell companies and bank accounts.  The book also examines power, which the author posits is central to the process of diffusion of the AML regime.  Additionally, the book looks at AML, a key policy now seen by the Group of 20 as a model for how to conduct global financial reform.