WEST AFRICA – MONEY LAUNDERING
January 1st, 2004
BY RICHARD HURSTIF there is one area of the world where a zealous anti-money laundering practitioner descend into the pits of despair, it would surely be west Africa, where there are a comprehensive lack of effective controls over the flow of money in and out of the region. Indeed, one saving grace of this often lawless set of countries is the rudimentary state of its banking sector, which acts as a rudimentary brake on money laundering.In late November 2003 legal advisors and financial crime experts from the international Monetary Fund (IMF) gathered in Dakar, ...
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