Article

Money Laundering

Michael Levi and Peter Reuter

in The Oxford Handbook of Crime and Public Policy

Published in print August 2011 | ISBN: 9780199844654
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199844654.013.0015

Series: Oxford Handbook in Criminology & Criminal Justice

 Money Laundering

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Money laundering is a very modern crime created by the late twentieth-century state to enlist the financial sector in its search of the proceeds of crime and prevention of career criminality, particularly transnational crime. This article presents examples that illustrate the variety of methods available and kind of persons involved, along with some classifications. It discusses the relationship of money laundering to corruption control and analyzes the effects of anti-money laundering controls. It provides a brief assessment of the consequences of the control system. A broad and intrusive set of controls has been erected to prevent money laundering. The system generates substantial crime or corruption control benefits which must be high on the agenda of the relevant policy-making community.

Keywords: money laundering; crime; corruption control; control system; policy-making community

Article.  11689 words. 

Subjects: Criminology and Criminal Justice ; Corporate Crime ; Transactional Crime ; Organised Crime

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