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The Bankers' Blacklist: Unofficial Market Enforcement and the Global Fight against Illicit Financing (Cornell Studies in Money)

Penned By Julia C Morse
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The Bankers' Blacklist: Unofficial Market Enforcement and the Global Fight against Illicit Financing (Cornell Studies in Money)

Penned By Julia C Morse
4.85 29,783 Ratings
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Editor's Note:
In The Banker's Blacklist, Julia C. Morse demonstrates how the Financial Action Task Force (FATF) has enlisted global banks in the effort to keep bad money out of the financial system, in the process drastically altering the domestic policy landscape and transforming banking worldwide.Trillions of dollars flow across borders through the banking system every day. While bank-to-bank transfers facilitate trade and investment, they also provide opportunities for criminals and terrorists to move money around the globe. To address this vulnerability, large economies work together through an international standard-setting body, the FATF, to shift laws and regulations on combating illicit financial flows. Morse examines how this international organization has achieved such impact, arguing that it relies on the power of unofficial market enforcement--a process whereby market actors punish countries that fail to meet international standards. The FATF produces a public noncomplier list, which banks around the world use to shift resources and services away from listed countries. As banks restrict cross-border lending, the domestic banking sector in listed countries advocates strongly for new laws and regulations, ultimately leading to deep and significant compliance improvements.The Bankers' Blacklist offers lessons about the peril and power of globalized finance, revealing new insights into how some of today's most pressing international cooperation challenges might be addressed.

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Julia C Morse

Julia C Morse writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Julia C Morse lives with their spouse and a very vocal rescue cat.

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"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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Kevin Carter
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"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
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"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars."
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"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
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