Center for Freedom and Prosperity Foundation
For Immediate Release
Tuesday, April 30, 2019
202-285-0244
www.freedomandprosperity.org
New CF&P Paper Tracks Dangerous Expansion of Anti-Money Laundering Regimes
(Washington, D.C., Tuesday, April 30, 2019) The Center for Freedom and Prosperity Foundation today published a new study titled, “Can the World Stop the Bucking Bronco? The Need to Balance the Expanding Anti-Money Laundering Regimes.” Authored by Bruce Zagaris, the paper follows the development of U.S. anti-money laundering laws, their extra-territorial expansion, and how it’s now blowing back on the United States as other nations begin following suit.
Link to the paper: http://freedomandprosperity.org/2019/publications/can-the-world-stop-the-bucking-bronco-the-need-to-balance-the-expanding-anti-money-laundering-regimes/
From the Introduction:
From the introduction of anti-money laundering laws in 1986, the United States government has led international efforts to prevent and prosecute money laundering and terrorist financing, as well as pioneered legal standards in this arena. A constant theme of U.S. AML/CTF laws has been their extraterritorial application and efforts to impose pressure and penalties on foreign governments and persons who failed to meet international standards.
… This article examines the trade-offs of the U.S.’s unilateral approach and argues for a rebalancing of the expanding financial enforcement regime.
About the Author: Bruce Zagaris is a partner with Berliner Corcoran & Rowe LLP specializing in tax controversy and international law. His tax controversy work has included representing individuals on voluntary disclosures, audits, and litigation as well as consulting and serving as an expert witness in criminal trials for defendants and the U.S. Government. He is founder and editor of the International Enforcement Law Reporter.
———
Image credit: geralt | Pixabay License.
