What can individual governments do about money laundering?
It goes without saying that consolidated efforts to fight money laundering are the most efficient. To fight such a widespread world â€infectionâ€, numerous countries should work at it, share information, generalize trends, etc.
Nevertheless, much can be done by individual government to fight money laundering. The governments of many countries have already done much establishing effective anti-money laundering regimes, still, they can and should do even more.
The first thing that a government can do is making the case of money laundering a crime. Then, investigative agencies are given the authority to trace and seize “dirty†money. Also, it is necessary that the agencies are permitted or even obliged involved to exchange information among themselves. Governments should take different appropriate measures concerning record keeping standards, financial transaction reporting systems, customer identification, verifying data, etc.
So, each government can do much and launch necessary anti-money laundering programs, projects, measures. However, international partnership with other countries is obligatory to fight this epidemics.