Illicit Finance and the Law in the Commonwealth Caribbean: The Myth of Paradise

This book challenges the notion that Commonwealth Caribbean States are weak links in the global fight against illicit finance by exposing latent interests and problematizing coercive extraterritorial regulatory and surveillance practices. It appeals to policymakers, regulatory and supervisory authorities, academics, and students interested in understanding legal and development policy issues related to risk-based regulatory governance of illicit finance.

Format: Hardback
Length: 336 pages
Publication date: 18 November 2022
Publisher: Taylor & Francis Ltd

This book offers a novel perspective on small developing states within the transnational legal order, specifically in combating money laundering and the financing of terrorism and proliferation (TAMLO). It challenges the prevalent stigmatization of the Commonwealth Caribbean as a mythical island paradise of "rogue states," often portrayed as selling their economic sovereignty to facilitate shady business deals and illicit finance. The book aims to unveil hidden interests and problematize coercive extraterritorial regulatory and surveillance practices along the onshore/offshore and Global North/South axes.

Drawing from an interdisciplinary approach, this book appeals to policymakers, regulatory and supervisory authorities, academics, and students interested in understanding legal and development policy issues related to risk-based regulatory governance of illicit finance. It also provides an insightful exposition of substantive legal and policy issues arising from money laundering, including corruption, politically exposed persons, offshore finance, and offshore Internet gambling services.

The book challenges the conventional wisdom that Commonwealth Caribbean states are among the weakest links in the global ecosystem to counter illicit finance. It demonstrates that these states have their own interests and strategies in combating financial crimes. By examining the interplay between legal frameworks, regulatory practices, and economic dynamics, the book offers valuable insights into the complex challenges faced by small developing states in the fight against illicit finance.

The book's findings will be of interest to policymakers seeking to develop effective strategies for combating money laundering and the financing of terrorism and proliferation. It will also be valuable to regulatory and supervisory authorities, academics, and students interested in exploring the intersection of law, development, and global finance. Moreover, the book provides a valuable resource for practitioners working in the field of anti-money laundering and counter-terrorism, offering practical insights and recommendations for addressing the challenges posed by illicit finance.

In conclusion, this book offers a fresh and innovative perspective on small developing states within the transnational legal order, challenging the stigmatization and offering valuable insights into their efforts to combat money laundering and the financing of terrorism and proliferation. It is a must-read for policymakers, regulatory and supervisory authorities, academics, and students interested in understanding the complex dynamics of illicit finance and the role of small developing states in shaping global regulatory governance.

Weight: 810g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032271453