Regulating and Combating Money Laundering and Terrorist Financing: The Law in Emerging Economies

This book examines the impact of the global anti-money laundering and counter-terrorist financing (AML/CFT) framework on the compliance trajectory of African countries and emerging economies (ACs/EEs). It challenges the uniform AML/CFT due to its paradoxical impact on these countries and explores the relationship between ACs/EEs and international financial institutions. The book reviews empirically the compliance pressures and resulting compliance trajectory of ACs/EEs and provides a detailed explanation of the compliance challenges and legitimacy concerns. It offers a valuable resource for academics, researchers, and policy-makers working in this area.

Format: Paperback / softback
Length: 330 pages
Publication date: 26 September 2022
Publisher: Taylor & Francis Ltd

This comprehensive book delves into the profound impact of the global anti-money laundering and counter-terrorist financing (AML/CFT) framework on the compliance trajectory of numerous jurisdictions. It begins by exploring the transformative journey of international financial sector reform, leading to the establishment of the comprehensive global framework for AML/CFT regulations. However, the book raises critical questions about the uniform application of these standards, particularly in light of their paradoxical impact on African countries and emerging economies (ACs/EEs). Through an in-depth examination of the pre-conditions for effective regulation and the compliance drivers specific to ACs/EEs, the book uncovers the nuanced behavioral effects of AML/CFT standards on this diverse bloc of countries.

Drawing upon agency theory, the book delves into the complex relationship between ACs/EEs and international financial institutions, which play a pivotal role in formulating, disseminating, and facilitating compliance with the global AML/CFT standards. The subsequent chapters provide empirical evidence of the compliance pressures and resulting compliance trajectory of ACs/EEs with these standards.

In the final part of the book, the authors offer a detailed exploration of the compliance challenges faced by ACs/EEs and the underlying legitimacy concerns that contribute to these challenges. By providing a fresh perspective on the impact of global AML/CFT standards on ACs/EEs, this book makes a significant contribution to our understanding of the conditions that foster proactive compliance within these regions. It serves as a valuable resource for academics, researchers, and policy-makers engaged in this critical field.

Weight: 530g
Dimension: 234 x 155 x 25 (mm)
ISBN-13: 9780367703035