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The IPE of Money Laundering and Terrorist Finance

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Abstract

This chapter provides a consideration of the global financial governance regime created to deal with money laundering and terrorist finance. The IPE of money laundering and terrorist finance is shaped and delimited by the guidance, directives and organisations that form this particular governance regime. The first section of this chapter explains the development and evolution of the regime from its starting point to address the illegal money generated by illegal drugs trafficking through several expansion steps to include all forms of illegal money, the financing of terrorism, the financing of weapons of mass destruction, and corruption. The chapter then outlines the operation of the regime in everyday practice, and some of the ways in which it impacts individuals and businesses. Finally it explains some of the enforcement structures that encourage international compliance with the requirements to counter money laundering and terrorist finance by states, companies and individuals. The compliance and enforcement mechanisms produce unintended consequences, and several of them are highlighted here. The consequences produced by the IPE of money laundering and terrorist finance, whether intended or unintended, have some effect on the lives of everyone, regardless of where they live or their socio-economic status.
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Original languageEnglish
Title of host publicationThe Routledge Handbook to International Political Economy
Subtitle of host publicationConversations and Inquiries
EditorsErnesto Vivares
PublisherRoutledge
Chapter49
Pages843-859
Number of pages17
Edition1
ISBN (Electronic)9781351064545
ISBN (Print)9781138479883
DOIs
Publication statusPublished - 30 Apr 2020

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