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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 organisation has achieved such impact, arguing that it relies on the power of unofficial market enforcement.

Banks and banking, International. --- Money laundering --- Terrorism --- Prevention. --- Finance --- Financial Action Task Force.