A Gateway for Money Laundering? Financial Liberalisation in Developing and Transitional Economies

In the eternal quest to launder money, those seeking legitimacy for their wealth will transcend all frontiers, be they technological, geographic or indeed legal. As one door is shut, launderers find the key to new havens for their ill‐gotten gains. So the inevitable backlash of the strict anti money‐laundering measures adopted by the USA and Western Europe, for example, is that launderers have had to look for a more friendly environment in which to cleanse their funds.