Show simple item record

Files in this item


Item metadata

dc.contributor.authorVlcek, William
dc.identifier.citationVlcek , W 2018 , ' Global financial governance and the informal : limits to the regulation of money ' , Crime, Law and Social Change , vol. 69 , no. 2 , pp. 249-264 .
dc.identifier.otherPURE: 249348241
dc.identifier.otherPURE UUID: 866cc493-f4fd-41ab-b4b0-2a36fd7b7c6d
dc.identifier.otherScopus: 85037642858
dc.identifier.otherORCID: /0000-0001-8647-5258/work/58055325
dc.identifier.otherWOS: 000428555000008
dc.description.abstractThe list of predicate crimes for the Recommendations of the Financial Action Task Force (FATF) has evolved and grown over its twenty-five year existence. The evolution of this list reflects shifting concerns among the central actors in the organisation, as well as representing a response to any ‘displacement’ activity undertaken by those seeking to avoid these forms of governance. When the scope for cooperation and compliance with the FATF Forty Recommendations was extended beyond the organisation’s membership this governance regime encountered business sectors and financial practices not readily amenable to its objectives. This paper considers the causes and consequences for the situation, as developing economy states attempt to comply with the global governance expectations of the FATF when a significant portion of the domestic economy operates ‘informally’. A frame of reference is provided, with a definition for the informal economy and the concept of displacement as used in research on criminal activity. The focus here is with the nature of the cash economy operating beyond the scope of financial surveillance with implications for the comprehensive effectiveness of the global financial governance regime. The context of informal financial practice and its separation from the regulatory structures of the state leads to a conclusion that global financial governance is limited in practice to the domain of the formal economy.
dc.relation.ispartofCrime, Law and Social Changeen
dc.rights© The Author(s) 2017. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (, which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.en
dc.subjectFinancial surveillanceen
dc.subjectInformal economyen
dc.subjectGlobal financial governanceen
dc.subjectFinancial Action Task Forceen
dc.subjectHG Financeen
dc.subjectSDG 16 - Peace, Justice and Strong Institutionsen
dc.titleGlobal financial governance and the informal : limits to the regulation of moneyen
dc.typeJournal articleen
dc.description.versionPublisher PDFen
dc.contributor.institutionUniversity of St Andrews. School of International Relationsen
dc.contributor.institutionUniversity of St Andrews. Centre for Global Law and Governanceen
dc.description.statusPeer revieweden

This item appears in the following Collection(s)

Show simple item record