The web of deception money laundering and transnational crime: 'a double edge sword of power & illusion'
Money laundering has been the focus of perpetrators for both the regulators and accountants in the 20th century. The methods adopted by the perpetuators of money laundering have become more sophisticated so as to provide a web of deception or illusion so that the regulatory authorities are confused and therefore, the paper trail goes undetected. The Foucauldian framework (Foucault, 1977; Foucault, 1984) employed in this paper addresses that deficiency by making explicit the power and knowledge disciplinary relationships inherent in the dynamics of any financial institution and the need to under-pin the concept of money laundering through such a complex relationship.
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