Profiling Money Laundering in Eastern and Southern Africa
"The monograph commences with a profile of the region, presented by the Minister of Finance of Swaziland, Honourable Majozi Sithole, in a keynote address to a seminar on money laundering in the sub-region. He cautions that confronting the menace of money laundering is going to be quite a challenge in the subregion, with its largely cash-based economies, its less developed and loosely regulated financial, business and intermediary sectors, its underground banking or money remitting services, and the gaps in its legal and law enforcement infrastructures and operational capacities. He advises that money laundering can only be fully addressed by countries collectively, as criminals operate without regard to national boundaries. Any weak links in the anti-money laundering chain will be exploited. In the chapters that follow, the authors explore the areas of vulnerability in respective countries of ESAAMLG. In each case, the protective measures necessary to develop strategies against money laundering are discussed and existing infrastructure within the country is analysed against that background."