Money Laundering, Tax Evasion and Financial Regulation
The seminar looked at the effectiveness of the Anti Money Laundering (AML) regime that has been built over the past two decades, and the more recent attempts by states and international organisations to control tax evasion, capital flight and curb tax avoidance and harmful tax competition. Despite the impressive paper framework the AML regime appears to be not very effective.
Tax evasion and avoidance, harmful tax practices, flight capital and transfer pricing have been recognized as having an even greater damaging impact on the global financial system and as a major impediment for countries to sustain their tax base, and in particular for developing countries to sustain their own development. However, even less has been achieved in building an effective global regime to counter tax transgressions.
Offshore centers, tax havens, private banking and lax bookkeeping regulations play a major role in undermining both AML and tax regulation. Both cases call for effective re-regulation at the international level. The seminar will brings together experts in the fields of AML and tax justice to analyze current shortcomings, and discuss recommendations on the way forward. Will it be sufficient to strengthen current regulatory initiatives or is something more robust needed?
An evaluation and overhaul of the entire system of international financial regulation seems to be necessary. The result of that process should be a comprehensive approach to tackle money laundering, tax evasion and avoidance and financial flight capital as interconnected phenomena and provide the necessary enforcement mechanisms. The United Nations might be the right arena to provide a ‘level playing field’ to negotiate such a comprehensive approach.
- Money Laundering, Tax Evasion and Financial Regulation: an Introduction, by Tom Blickman (TNI)
- Seminar programme
Assessing the AML regime and lessons to learn
- Assessing the AML system, power point presentation by Peter Reuter
- Lessons to learn from the AML regime, power point presentation by Mike Levi
- Criminal Profits, Terror Dollars and Nonsense [PDF], by Thomas Naylor
- Regulation and its Discontents: Promises and Pitfalls in International Efforts to Control Money Laundering, Tax Evasion and the Financing of Terror, by Thomas Naylor
- Money Laundering and Asset Confiscation in Colombia, by Alejandro Reyes-Posada and Francisco E. Thoumi
- Money Laundering, Tax Evasion, Capital Flight, Tax Havens, the Rule based and the Risk Based Approach: Keep it Simple, by Brigitte Unger
Tackling Tax Evasion, Tax Havens and Offshore Finance
- The Long and Winding Road: Tackling Capital Flight and Tax Evasion [PDF], by John Christensen, Tax Justice Network
- Tackling Tax Havens and 'Offshore' Finance [PDF], by Sol Picciotto
- A few random thoughts on hedge funds, private equity, power point presentation by Sony Kapoor
- Countering illicit and unregulated money flows: Money laundering, tax evasion and financial regulation, by Tom Blickman, TNI Crime & Globalisation Debate Paper, January 2010
TNI Expert Seminar
June 12-13, 2007