The Washing Machine How Money Laundering and Terrorist Financing Soils Us

by Kochan, Nick

• ISBN13: 9781587991592
• ISBN10: 1587991594
• Edition: 1st
• Format: Hardcover
• Copyright: 2005-05-24
• Publisher: Cengage Learning

Summary

The Washing Machine is an intriguing book that takes the reader deep inside the world of money laundering and shows it to be a highly sophisticated, global business that poses a serious and systemic threat to the world?s financial institutions, as well as the global economy. Investigative journalist and financial expert Nick Kochan profiles the perpetrators, the investigators, and explains the methods employed by international criminals and terrorists to turn dirty money into untraceable wealth. The effort to stop this sinister financial pipeline to terrorist activities is one of the highest profile law enforcement activities in the world at present. Will we lose this battle? The Washing Machine reveals that the dual forces of globalization and a lack of true international cooperation are playing directly into the hands of the criminals.

Table of Contents

Preface	vii
Introduction
Part One: World at Risk	ix
Part Two: The Early History of Money Laundering	xix
Section I Criminal Oligarchy	1	(62)
The Russian Mafia	3	(18)
BoNYGate	21	(16)
`Merchant of Death'	37	(26)
Section II Terrorist Finance	63	(38)
Al Qaida: A Recipe for Sustainable Terrorism?	65	(15)
The Many-Headed Hydra---Ireland, Turkey, Sri Lanka	80	(21)
Section III Black Markets	101	(54)
Diamonds: A Launderer's Best Friend	103	(21)
Colombia's Half Trillion	124	(19)
Smoking Guns	143	(12)
Section IV Bad Banks	155	(82)
Cover-up! Bankers and Their Corrupt Clients	157	(34)
The Casablanca Sting	191	(21)
Laundering Footmen	212	(25)
Section V What the World's Doing	237	(48)
America's Clampdown on Terrorist Financing	239	(8)
Enforcement in a Frenzy	247	(6)
London: Offshore, Onshore	253	(15)
Cyber Launderers, Cyber Detectives	268	(17)
Conclusion	285	(2)
Glossary	287	(4)
Sources	291	(24)
Bibliography	315	(2)
Index	317