Making Promises Good: The Anti-Money Laundering Regime as a Multi-Purpose Tool for Governance

Stavros Katsios ()
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Stavros Katsios: Geolab – Ionian University

Ovidius University Annals, Economic Sciences Series, 2016, vol. XVI, issue 2, 227-232

Abstract: The creation of this international anti-money laundering regulatory regime is, contrary to itsneglect by the literature, important in two ways. First, it provides us with a second example -alongside the Basle Accord – with which we can examine how political barriers to regulatorycooperation and coordination might be overcome; without overstating the success of the antimoneylaundering regime the paper argues that a lot of the political circumstances that enabledcooperation and coordination to develop in this case can be applied in facing other economiccrime forms. The FATF case may help us to identify important political conditions that can fostercollective regulatory initiatives in the international financial area and especially in South EasternEurope. Additionally the anti-money laundering regime may be useful more directly in pursuingsome other regulatory and security goals of particular interest for the Balkan region. Specifically,the kinds of international cooperation and coordination that have been introduced to combatmoney laundering may help to strengthen international regulatory initiatives aimed at curbingcorruption, tax evasion and capital flight and fighting the threat deriving from internationalorganised crime and global terrorism.

Keywords: money-laundering; regime; regulation; corruption; governance (search for similar items in EconPapers)
JEL-codes: D73 E43 F53 G28 G30 H83 K34 K42 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xvi:y:2016:i:2:p:227-232

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