Money Laundering and Globalization

Abstract

The article traces the various imperatives generated by the combination of the money laundering panic of the late 1990s with the advent of globalization. If there is to be an attempt legally to regulate laundering, it (laundering) must be a relatively serious offence, and consequently the anticipated harm must be something other than complicity. The regulatory framework must aspire to being universal and watertight, and (because otherwise the policing costs would be too great) the professions must be recruited to that endeavour. Laundering must be one of the driving forces of international cooperation in criminal justice and thus a force for the homogenization of criminal justice systems.

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