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Corruption, Organized Crime, and Money Laundering

In: Institutions, Governance and the Control of Corruption

Author

Listed:
  • Susan Rose-Ackerman

    (Yale Law School)

  • Bonnie J. Palifka

    (ITESM, Campus Monterrey)

Abstract

Corruption is often intertwined with international organized crime and is facilitated by money laundering. Self-reinforcing spirals of corruption occur when organized crime infiltrates state institutions. Criminal activity may become so intertwined with corrupt politics and legitimate business, that it is difficult to tell them apart. Cooperation among countries, international institutions, and enforcement agencies is essential. Otherwise, the proceeds of corruption and organized crime will be hidden abroad or in cyberspace. Hence, the anti-corruption agenda should include limits on money laundering and disclosure of the beneficial owners of shell companies. Global institutions, such as the World Bank and the International Monetary Fund, need to strengthen their existing efforts in these areas.

Suggested Citation

  • Susan Rose-Ackerman & Bonnie J. Palifka, 2018. "Corruption, Organized Crime, and Money Laundering," International Economic Association Series, in: Kaushik Basu & Tito Cordella (ed.), Institutions, Governance and the Control of Corruption, chapter 4, pages 75-111, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-3-319-65684-7_4
    DOI: 10.1007/978-3-319-65684-7_4
    as

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