Chapter

Harmonization of Transnational Economic Crime Control

Junji Nakagawa

in International Harmonization of Economic Regulation

Published in print October 2011 | ISBN: 9780199604661
Published online January 2012 | e-ISBN: 9780191731679 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199604661.003.0009

Series: International Economic Law Series

Harmonization of Transnational Economic Crime Control

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This chapter analyzes international harmonization of regulations controlling two major types of international economic crimes: transnational money laundering and foreign corrupt practices. In both cases, harmonization efforts started as domestic, notably US, regulation, which expanded into global regulation through international standard setting bodies, such as the FATF (Financial Action Task Force), the European Council on transnational money laundering and the OECD and UN on foreign corrupt practices. Involvement of the private sector, notably by private banks, in the drafting and implementation of the FATF Forty Recommendations is analyzed as an example of public-private partnership (PPP) in international harmonization.

Keywords: Transnational money laundering; FATF (Financial Action Task Force); Forty Recommendations; OECD Anti-Corruption Convention; UN Anti-Corruption Convention; public-private partnership (PPP)

Chapter.  27181 words. 

Subjects: Public International Law

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