Combating Money Laundering in Africa


Combating Money Laundering in Africa

Dealing with the Problem of PEPs

9781803926049 Edward Elgar Publishing
John Hatchard, Emeritus Professor of Law, University of Buckingham, UK, Visiting Professor, UN International Anti-Corruption Academy, Vienna and Vice-President, Commonwealth Legal Education Association
Publication Date: 2022 ISBN: 978 1 80392 604 9 Extent: 328 pp
This insightful book critically explores the political, constitutional, legal, and economic challenges of effectively combating the laundering of the proceeds of crime by politically exposed persons (PEPs) in Africa.

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This insightful book critically explores the political, constitutional, legal, and economic challenges of effectively combating the laundering of the proceeds of crime by politically exposed persons (PEPs) in Africa.
Professor John Hatchard draws on numerous recent examples from Africa and beyond, arguing that a three-pronged approach is required to address the issues surrounding money laundering by PEPs; there must be action at the national, transnational, and corporate levels. Taking a forward-thinking perspective, he reviews the strategies which would make this approach effective and offers suggestions for their further enhancement. Professor Hatchard also provides an in-depth analysis of the different money laundering techniques used in African countries and suggests how constitutions, financial intelligence units, asset recovery mechanisms, and the African Court of Justice and Human and Peoples’ Rights can be utilised to tackle the problem. The book concludes that while challenges remain, there is cause for optimism that money laundering by African PEPs can be addressed successfully.
This book will be of interest to academics and students of law, particularly those focusing on financial law, corruption, and economic crime. Containing a wealth of practical case studies, it will also be beneficial for legal practitioners, policymakers, public officials, and civil society organisations.
Critical Acclaim
‘The current study by Hatchard comes at a time when several instances of abuse of authority by people in power across all continents have come to light. The book is topical, and contains a wealth of case studies from Africa, covering financial crime, corruption, and AML, to name a few. One is convinced that this book will be of interest to academics and researchers. It is a must-have for policymakers and practitioners alike.’
– Jae Sundaram, Journal of Contemporary African Studies

‘This extensively researched and coherently written piece of scholarship ought to be widely consulted by scholars and practitioners seeking to combat money laundering (ML) in Africa. Hatchard''s scholarship deserves a wide readership and consideration by academics and stakeholders in the AML space. The book heralds the dominance of an existing voice, intertwining AML strategies and constitutional law, complex areas of law which the author simplifies.’
– Nkechikwu Valerie Azinge-Egbiri, African Journal of International Economic Law

‘This is a book which will be of enormous value to anti-AML technocrats as well as government policymakers.’
– Venkat Iyer, The Commonwealth Lawyer

‘. . . a must have for African corruption fighters.’
– Richard Messick, The Global Anticorruption Blog

‘This timely and welcome book examines both the legislative and institutional mechanisms and strategies necessary to combat the laundering of the proceeds of corruption in Africa. Corruption undermines democracy, good governance, and social cohesion, and distorts the allocation of resources. Combating this scourge is an important ingredient of the development agenda in Africa. This book provides a brilliant diagnosis of critical issues to be addressed by countries and the international community in their efforts to combat money laundering. It brings to the forefront the policy agenda necessary in the fight against money laundering, and is a necessary read for students, scholars, and policymakers engaged in the efforts to combat corruption world-wide.’
– Muna Ndulo, Cornell Law School, US

‘The author''s anti-corruption expertise merges with his close personal connection to the African continent to produce a wisdom too rarely seen in dialogues between the global north and south. Indeed, John Hatchard would have us collapse that distinction. He envisions an integrated global approach to money laundering – a problem that not only plagues every region and level of development, but for which nearly every country on the globe can genuinely claim to be both victim and perpetrator.''
– Andrew Spalding, University of Richmond, US

‘John Hatchard is doubtlessly one of the most authoritative writers on corruption and good governance in Africa. This book reflects his long-standing interest on the topic and draws on his wealth of personal experience from many years of work in this field. The book provides an impressive and insightful array of strategies for combating money laundering by PEPs in Africa. I am convinced that this will become a standard reference document and is a must-read for researchers, policymakers, and any persons interested in engaging with this fascinating topic.’
– Charles M. Fombad, University of Pretoria, South Africa
Contents: Preface: Hope For The Future? Part I: Setting The Scene 1. Money Laundering Challenges In The African Context: Constitutions, Law, Politics And Economics 2. PEPs And The Money Laundering Process In The African Context Part II: The Global And Africa-Specific Strategies Designed To Combat Money Laudering 3. The International And Africa-Specific AML-Related Instruments 4. PEPs, FATF And The African FATF-Style Regional Bodies Part III: Developing And Maintaining Effective AML Strategies In African States 5. PEPs And The Role Of Financial Intelligence Units (FIUs) And Regulators 6. PEPs And Constitutions As AML Instruments 7. Preventing Money Laundering By PEPs: The Constitutional Role Of The Auditor General 8. PEPs, Constitutions And Investigating Money Laundering 9. Prosecuting PEPs 10. Asset recovery in the African context 11. PEPs and the use and abuse of the constitutional power Part IV: PEPs And Transnational AML Initiatives 12. ‘Know Your Beneficial Owner’: PEPs And Beneficial Ownership Transparency 13. Combating Money Laundering By PEPs: The Private Sector And The ‘Reveal All’ Approach 14. PEPs, Money Laundering And The African Court Of Justice And Human And Peoples’ Rights 15. Hope For The Future: Dealing With PEPs, Towards Enhancing AML Strategies In African Countries Index
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