Chasing Dirty Money: The Fight Against Money Laundering

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Chasing Dirty Money: The Fight Against Money Laundering

By Peter Reuter and Edwin M. Truman
Institute for International Economics, 2004
248 pp. $23.95
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Successful criminal activities produce lots of cash, which must be "laundered" to be useful and to obscure its illegal origins. Like many other activities, money laundering has become increasingly international, which has spurred attempts at coordinated responses by financial and law enforcement authorities. This book reviews and examines, in greater detail than some readers will want, the variegated nature of money laundering and the response of national governments, serving as a useful source of analysis and information from diverse sources. As with most shady illegal activities, limited information is available. The authors present much material, and discuss the difficulties of evaluating quantitatively or even qualitatively the various measures that have been adopted in the absence of hard and systematic evidence of their impacts. But what is clear is that following the money across national boundaries has pushed authorities to much closer transnational cooperation.