CrimProf Blog

Editor: Kevin Cole
Univ. of San Diego School of Law

Tuesday, June 18, 2013

Dobbin on Sharman on Regulating Criminal Finance

Frank Dobbin (Harvard University) has posted Review of J.C. Sharman, The Money Laundry: Regulating Criminal Finance in the Global Economy (2012 American Journal of Sociology 118(3):850-852) on SSRN. Here is the abstract:

Why have 180 countries around the world, including the tiny Pacific island nation of Nauru, with a population of 11,000, no financial institutions, 90% unemployment, and a national debt 16 times its GDP, adopted anti–money laundering policies? Why, when the world’s financial elites suspect that these policies are ineffective, and cost more in regulatory and compliance effort than they save by preventing money laundering, would so many countries jump on the bandwagon?

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