5: Money launderers and their superpowers

We start with the glamorisation by the media which conflates criminal wealth with cleverness. This leaks into public policy with the attribution of sophistication to money laundering used by governments to explain law enforcement failure before they have even engaged with the enemy.

The public and the AML regime are distracted by new developments such as cryptocurrency and the Dark Web, which leads us away from addressing obvious weaknesses with developing simple and inexpensive solutions.

The authors focus on four development areas: to investigate cash, solve cross-border cooperation, abolish the double indemnity enjoyed by companies, and address the chronic weakness of law enforcement. Perhaps above all we need some meaningful statistics to judge the AML regime and assess whether it works.

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