By Jody Myers
(Version in Français)
Drug traffickers, diamond smugglers, and terrorists’ financiers around the world have one thing in common: they abuse the financial system to “clean” the proceeds they have obtained from their illegal work, or to transfer funds to achieve their destructive aims. The former is known as money laundering and the latter as terrorist financing.
Filed under: Advanced Economies, Economic Crisis, Emerging Markets, Europe, Financial Crisis, International Monetary Fund | Tagged: Article IV, banks, corruption, Financial Action Task Force, financial institutions, Financial Sector Assessment Program, government revenues, inflation, insider trading, International Monetary Fund, money laundering, purchasing power, risk, tax evasion, terrorist financing, United States | 4 Comments »