The Critical Handbook of Money Laundering: Policy, Analysis and Myths
by  Liliya Y. Gelemerova (Author), Jackie H. Harvey (Author), Petrus C. van Duyne (Author)

About this book
The overarching aim of this book is to bring order to the subjects of money laundering and of the anti-money laundering frameworks that have been written over the past thirty years. It provides scholars, practitioners and policy makers with a guide to what is known of the subject thus far. The book examines critically the underlying assumptions of research and of policy-making in the field and offers a systematic review of the most important policy and academic literature on the subject.

Contents
1 Money-laundering: a global issue and scarce knowledge 1
    1.1 Introduction: why this book? 1
    1.2 Where did the global anti-money laundering narrative start? 3
    1.3 A sense of urgency and accumulation of knowledge 6
    1.4 Conclusion 10
2 Methodology 13
    2.1 Introduction 13
    2.2 The meaning and limitations of probing FATF reports 14
    2.3 Official sources and their validity 15
        2.3.1 The Mutual Evaluation Reports 15
        2.3.2 The annual reports and strategic documents 19
    2.4 The academic literature and the march of the economists 26
    2.5 The nature of enquiry: Review and protocol development 27
    2.6 The initial systematic scoping of relevant literature 28
        2.6.1 Searching for existing reviews of money laundering literature 29
        2.6.2 Scoping search across the money laundering landscape 30
        2.6.3 Search terms definition for the structured review 31
    2.7 Structured review output and theme development 32
        2.7.1 Emergent themes and the narrative in literature review 35
        2.7.2 Sorting our database 35
    2.8 Conclusion 38
3 Historical overview 41
    3.1 Introduction 41
    3.2 The first steps of the crime money approach 41
    3.3 Next step: the criminalisation of money laundering in the USA 45
    3.4 With the BSA strengthening, the taxman was always near 50
    3.5 Globalisation by exportation of US legislation 51
    3.6 The FATF and its extending reach 54
        3.6.1 The development of the informal anti-money laundering club 55
    3.7 Regulating the extension of the FATF 64
    3.8 Organising the FATF: the unfolding shape and structure 69
    3.9 The rise of the compliance industry and compliance costs 73
    3.10 Cost estimations and the compliance market 84
    3.11 Conclusion 88
4 Concepts, assumptions and consequences 91
    4.1 Introduction 91
    4.2 The need for precision 91
    4.3 Defining laundering: observation or conclusion? 93
    4.4 Defining in legislative and policy making settings 95
        4.4.1 Criminal law formulations 96
        4.4.2 Defining from the perspective of policy making 105
    4.5 ‘All crime’ or a catalogue of offences and national criminal law 109
    4.6 Assumptions and threats of laundering (in a behavioural approach) 112
    4.7 Conclusion 120
5 Learning more about the FATF: Knowing the tree by its fruits 123
    5.1 Introduction 123
    5.2 FATF tasks and its fulfilment 124
    5.3 Herding the Member States and enforcing compliance 133
    5.4 The legitimacy of sanctioning 141
    5.5 Approximating the identity of the FATF 143
    5.6 FATF’s ‘indirect rule’ 144
    5.7 Educational publications: typologies 146
    5.8 The FATF in its global network 157
    5.9 Conclusion 159
6 Legal studies literature 161
    6.1 Introduction: legal foundations and legal laundering research 161
    6.2 Interest and harm 163
    6.3 Proportionality and subsidiarity 165
    6.4 Scope and lex certis 171
    6.5 Imposing sanctions on countries 174
    6.6 Recovery of assets and restorative justice 177
    6.7 Conclusion 180
7 Economists’ consensus: models and estimates 183
    7.1 Introduction: the concerns of economists 183
    7.2 Contribution from the conceptual studies 187
        7.2.1 Definition 188
    7.3 Presumed rationality, regulation and the cost-benefit debate 192
    7.4 The vexed topics of efficiency, effectiveness and microeconomics 193
    7.5 The macro-economic models employed 199
    7.6 Concluding reflection 219
    7.7 The microeconomic models 220
    7.8 Critics of the regime 225
    7.9 Conclusion 225
8 Behaviour and impact ‘on the ground’ 229
    8.1 Introduction 229
    8.2 The actions of the states and the persuasiveness of the ‘club’ 230
        8.2.1 Joining the club and adhering to the rules; enforcement and mutual evaluation 239
    8.3 The regulated sector and reasons for compliance 249
        8.3.1 Costs of compliance 250
        8.3.2 ‘Persuading’ compliance by other means 256
        8.3.3 The apparent benefits of the risk based approach 257
    8.4 Impact on the criminals – evidence of changing behaviour? 260
    8.5 Conclusion 266
9 “What is all this good for?” A layman’s question 269
    9.1 Introduction: questions from a tabula rasa 269
    9.2 “What is all this good for?” Duality of aims and knowledge sources 270
        9.2.1 Integrity and uncertainty 274
        9.2.2 Crime reduction: the external criterion 278
        9.2.3 Comparison with the Mutual Evaluation Reports fourth round 286
        9.2.4 The AML supremacy 296
    9.3 The National Risk Assessment Dome 298
    9.4 Conclusion 301
10 Conclusion: back to the essence and the future 305
    10.1 A legal axiom and the ‘least effort principle’ 306
    10.2 The circle of reasoning 307
    10.3 Conceptual opaqueness 309
    10.4 The FATF repressive drone and the independent judiciary 313
    10.5 Dissuasion and restorative justice 317
    10.6 Outside of the Laundering Dome 321
    10.7 To launder or not to launder: that is the question 324
    10.8 Putting things in proper places 327
Chapter 2 Appendix 1 333
Chapter 2 Appendix 2 335
Chapter 2 Appendix 3 337
Chapter 2 Appendix 4 341
References 345
Index 367

Series: Great Thinkers in Economics
Length: 323 pages
Publisher: Palgrave Macmillan UK, London; 1st ed. 2018 edition (December 30, 2018)
Language: English
ISBN-13: 978-1137523983