Money Laundering and Illicit Financial Flows

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Outside of crimes of passion, criminals, organizations, kleptocrats, and some corporations are primarily driven by greed. In our interconnected world, the consequences of unchecked avarice affect us all—politically, socially, economically, and culturally. Transnational crime poses significant threats to our collective security, with the scale of crime reaching multi-trillions of dollars annually. Laundering and disguising criminal proceeds is crucial for these organizations, yet the past thirty years reveal that our anti-money laundering (AML) efforts have been largely ineffective. We are "a decimal point away from total failure" in our metrics. The future outlook is bleak. This book critically examines our AML performance, focusing on both traditional and emerging money laundering methods. It highlights various threats, enablers, and facilitators while advocating for a paradigm shift in AML strategies. By combining factual analysis, straightforward explanations, case studies, and personal insights, it serves as a valuable resource for the public and private sectors, policymakers, students, and engaged citizens. With over 30 years of experience as a former Treasury Special Agent, the author provides a unique insider perspective on money laundering, having authored five books and numerous articles on the subject, consistently bringing critical issues to light.