Book Review: The Washing Machine — Money Laundering And Terrorist Financing Soils Us - Page 5

Nick Kochan wraps up this engrossing book with a look at what the world is doing to stop this spin cycle of money. He describes how the United States 'got religion' after 9/11, following years of inaction on money laundering. He notes the enforcement frenzy in recent years, but wonders about it's sustainability once the furor dies down. Few of the systemic problems are being addressed, or big players forced out, shut down, or taken out of circulation. The special case of London as a new hub of financial irregularities, almost an 'offshore haven' is studied, particularly affecting after the recent attacks of 7.7. Cyber-launderers are also touched on, although not in much detail. The potential for easy and convenient laundering through e-auctions, online casinos, and telemarketing is all too real to ignore. The lack of a paper trail and government control makes this channel a tempting one for the goons to abuse, as they do.

This book is not one that will allow the reader to sleep easy at night, or to wilfully ignore the money trails we participate in, unknowingly part of a global network of dirty money.

Article Author: Aaman Lamba

Aaman Lamba is a Blogcritics editor, as well as the Publisher of Desicritics.org, a Blogcritics network site covering media, politics, culture, sports and more with a global South Asian focus

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