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

Azinge-Egbiri, Nkechi (2021) Regulating and Combating Money Laundering and Terrorist Financing The Law in Emerging Economies. Financial Crime Series . Routledge, United Kingdom. ISBN ISBN 9780367861421

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Abstract

This book analytically reviews the impact of the global anti-money laundering and counter-terrorist financing (AML/CFT) framework on the compliance trajectory of a number of jurisdictions to this framework.

The work begins by examining the international financial sector reform and its evolution to inculcate the global framework for AML/CFT regulations. It challenges the resulting uniform AML/CFT due to its paradoxical impact on the compliance trajectory of African countries and emerging economies (ACs/EEs). This is done through an examination of the pre-conditions for effective regulation and compliance drivers for ACs/EEs that reveals the behavioural impact of the AML/CFT standards on the bloc of countries. Through the application of agency theory, it explores the relationship between ACs/EEs on the one hand and the international financial institutions that formulate, disseminate and facilitate compliance with the global framework for AML/CFT standards on the other. The remaining chapters review empirically the compliance pressures and resulting compliance trajectory of ACs/EEs with the AML/CFT standards. The final part of the book provides a detailed explanation of the compliance challenges of ACs/EEs and the legitimacy concerns that facilitate this.

This book offers a new direction on the impact of global AML/CFT standards on ACs/EEs and contributes to the understanding of the conditions under which the global standards are likely to facilitate proactive compliance within these blocs of countries. As such it will be a valuable resource for academics, researchers and policy-makers working in this area.

Keywords:Anti-Money Laundering, Emerging Economies
Subjects:M Law > M190 Law by Area not elsewhere classified
Divisions:College of Social Science > Lincoln Law School
ID Code:45796
Deposited On:24 Aug 2021 15:25

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