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Programme Papers from the 9th IACC
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The 9th International Anti-Corruption Conference

The Papers

Abstracts of presentations

Day 2, Workshop 7

Uche, Chibuike U. :
Money Laundering: A View From a Developing Country

Most of the literature on preventing money laundering is from a developed country perspective. The phenomenon is truly international, however, and a view from a developing country is needed. The paper argues that the greatest danger to the success of international efforts to tackle money laundering is the ever increasing disparity in the structure of the financial systems of both developed and developing countries. The greatest threat to the business of laundering is documentation. In countries with underdeveloped payments systems most of the economy is underground and cash transactions are the rule rather than the exception. Very little, if any, documentation trail is left. Furthermore, the paper argues that the current economic crisis in many of the underdeveloped countries is also a cog on the wheel of the fight against money laundering. Because of Structural Adjustment Programmes, Governments of many of these developing countries have inadvertently encouraged large flows of foreign capital into the country, with very little scrutiny as to its source, all in the name of deregulation. In addition, economic liberalisation brought about increased competition among financial institutions in developing countries. This in itself may be an incentive for some financial institutions in such countries to pay lip service to money laundering rules.

read the paper, download the Word file, download the Acrobat file

United Nations :
Strategy Against Corruption and its Financial Channels

The presentation lists the previous international efforts against corruption and the laundering of its proceeds and describes the role of off-shore centres in the corruption process. The Group of Paris recommendations are outlined.

download the PowerPoint presentation

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