Regulating and Combating Money Laundering and Terrorist Financing The Law in Emerging Economies
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.
Chapter 1 Compliance With The Global AML/CFT Regulation: Parameters And Paradoxes Of Regulation In African Countries And Emerging Economies
Chapter 2 The International Financial Sector Reform And International Legal Framework For AML/CFT Regulation
Chapter 3 Preconditions For Effective Regulations Of AML/CFT And Compliance Drivers In African Countries And Emerging Economies
Chapter 4 The Agency Relationship Between Collective Principals And Their Interaction With African Countries And Emerging Economies
Chapter 5 Determinants Of Africa’s Compliance Levels To The Global Anti-Money Laundering Regime
Chapter 6 AML/CFT Regime: Compliance Within Emerging Economies (EE)
Chapter 7 Legitimacy – A Means Of Levelling The Playing Field?
Chapter 8 Explanations And Conclusion