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Legal Transplantation of Global Anti-Money Laundering Standards: Unintended Consequences for Developing Countries

Coming Soon Legal Transplantation of Global Anti-Money Laundering Standards: Unintended Consequences for Developing Countries

Legal Transplantation of Global Anti-Money Laundering Standards: Unintended Consequences for Developing Countries

Author: Nkechikwu Valerie Azinge-Egbiri; Nicholas Ryder; Ehi Eric Esoimeme
Publisher: Edward Elgar Publishing
ISBN: 9781035310876
Published In: June 2026
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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This book provides real-world insights into the application of the Financial Action Task Force (FATF) Anti-Money Laundering standards in developing countries. Presenting a Global South perspective, experts highlight power imbalances in the creation and enforcement of these standards and show why rigid or erroneous transplantation can have unintended consequences in some jurisdictions.

Bridging practice and theory, this book reviews legal tensions between international obligations and domestic realities. Case studies and expert insights reveal how the FATF standards, designed to combat money laundering and protect the world’s financial systems, do not always account for developing countries’ individual circumstances. Examples include international standards clashing with long-standing local laws, rules around attorney–client privilege and harming national efforts towards financial inclusion. This book advocates for international reforms aimed at aligning global financial integrity goals with local development priorities.

An essential resource for students and academics in criminal law, international law, economics and development studies, Legal Transplantation of Global Anti-Money Laundering Standards is also beneficial for policymakers, international stakeholders and government officials in developing countries.

Introduction: errors in transplantation and unintended consequences for developing countries 1

Nkechikwu Azinge-Egbiri, Ehi Eric Esoimeme, and Nicholas Ryder

Global AML/CFT standards: whose standards? 10

Anthony I. Idigbe

General issues with money laundering and the international political economy 40

Ndidi Ahiauzu

Developing economies and the implementation of global anti-money laundering standards: an empirical investigation 59

Sumedha Deshmukh and Leonardo Borlini

Selectivity and tokenism: framing the anti-money laundering and counter-terrorist financing regime created by the Financial Action Task Force (FAFT) 94

Nkechikwu Azinge-Egbiri and Constance Gikonyo

FATF’s listing approach and the collective action problem: assessing Nigeria’s legal and enforcement conundrum 115

Ikpenmosa Uhumuavbi

FATF standards and their impact on Sustainable Development Goals (SDGs) of Global South countries in the Asia-Pacific region 158

Nicholas Morris, Louis de Koker, and Jeanne Nel

Civil asset forfeiture: unintended consequences of the framework in Nigeria and Ghana 205

Evelyn Ehigie

The FATF standards: beyond combatting terrorist financing to affecting women’s rights organisations 239

Cheludo Tinaye Butale

10.

Digital identity in the context of money laundering: reflections on Kenya 269

Joy Malala

11.

The disproportionate cost of implementing the Financial Action Task Force Recommendations: Jamaica as a case study 285

Alan Francis Johnstone

12.

Balancing innovation and regulation: evaluating Bangladesh’s approach to virtual assets and compliance with the FATF standards 314

Sangita Gazi

13.

Bridging the gap between AML laws and AML practice in Turkey: challenges in synchronised implementation of FATF Recommendations 356

Engin Erken and Umut Turksen

14.

An imaginary paradox? Customer due diligence and financial exclusion 381

Abdullahi Y. Shehu

15.

The problem of fighting de-risking through private litigation: the case of remittance to developing states 400

Nathanael Tilahun

16.

Conclusion: mitigating the unintended consequences resulting from the FATF Standards and their implementation 421

Nkechikwu Azinge-Egbiri, Ehi Eric Esoimeme, and Nicholas Ryder

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