Fast spinning into oblivion? Recent developments in money-laundering policies and offshore finance centres.

Hampton, Mark P., Levi, Michael (1999) Fast spinning into oblivion? Recent developments in money-laundering policies and offshore finance centres. Third World Quarterly, 20 (3). pp. 645-656. ISSN 0143-6597. (doi:10.1080/01436599913730) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:23051)

 The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. Official URLhttp://dx.doi.org/10.1080/01436599913730

Abstract

This article examines the growth of money-laundering in conjunction with the associated development of offshore finance centres (OFCs) located in small places such as islands or microstates in the Caribbean and elsewhere.

The phenomenal growth of OFCs since the 1960s may be seen in terms of the four spaces’ . Three of these spaces' - the secrecy space (confidentiality); the regulatory space; and the political space - can be used to frame an analysis of the growth of offshore finance and the emergence of a suitable environment for international money-laundering. The article then examines recent policy developments

concerning money-laundering and OFCs, such as the workings of the Financial Action Task Force (FATF), and the regional Task Forces such as the Caribbean Task Force. Finally, the article explores the changing way `offshore’ is being constructed as exemplified by rising onshore pressure from the OECD, G7, the EU and, most recently, the UK government, with its growing concern demonstrated by the 1998 unprecedented Home Office and FCO reviews of both British Isles and Caribbean OFCs.

Item Type: Article 10.1080/01436599913730 J Political Science > JC Political theoryH Social Sciences > HB Economic Theory Divisions > Kent Business School - Division > Department of Leadership and Management Mark Hampton 05 Nov 2009 11:38 UTC 16 Nov 2021 10:01 UTC https://kar.kent.ac.uk/id/eprint/23051 (The current URI for this page, for reference purposes) https://orcid.org/0000-0003-1481-4665