Edited by Nkechikwu Valerie Azinge-Egbiri, Lancaster University, Nicholas Ryder, Cardiff University, UK and Ehi Eric Esoimeme, James Hope University, Nigeria

• Contents1 Introduction: errors in transplantation and unintended consequences for developing countries 1Nkechikwu Azinge-Egbiri, Ehi Eric Esoimeme, and Nicholas Ryder2 Global AML/CFT standards: whose standards? 10Anthony I. Idigbe3 General issues with money laundering and the international political economy 40Ndidi Ahiauzu4 Developing economies and the implementation of global anti-money laundering standards: an empirical investigation 59Sumedha Deshmukh and Leonardo Borlini5 Selectivity and tokenism: framing the anti-money laundering and counter-terrorist financing regime created by the Financial Action Task Force (FAFT) 94Nkechikwu Azinge-Egbiri and Constance Gikonyo6 FATF’s listing approach and the collective action problem: assessing Nigeria’s legal and enforcement conundrum 115Ikpenmosa Uhumuavbi7 FATF standards and their impact on Sustainable Development Goals (SDGs) of Global South countries in the Asia-Pacific region 158Nicholas Morris, Louis de Koker, and Jeanne Nel 8 Civil asset forfeiture: unintended consequences of the framework in Nigeria and Ghana 205 Evelyn Ehigie 9 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

Edited by Nkechikwu Valerie Azinge-Egbiri, Lancaster University, Nicholas Ryder, Cardiff University, UK and Ehi Eric Esoimeme, James Hope University, Nigeria

• Contents1 Introduction: errors in transplantation and unintended consequences for developing countries 1Nkechikwu Azinge-Egbiri, Ehi Eric Esoimeme, and Nicholas Ryder2 Global AML/CFT standards: whose standards? 10Anthony I. Idigbe3 General issues with money laundering and the international political economy 40Ndidi Ahiauzu4 Developing economies and the implementation of global anti-money laundering standards: an empirical investigation 59Sumedha Deshmukh and Leonardo Borlini5 Selectivity and tokenism: framing the anti-money laundering and counter-terrorist financing regime created by the Financial Action Task Force (FAFT) 94Nkechikwu Azinge-Egbiri and Constance Gikonyo6 FATF’s listing approach and the collective action problem: assessing Nigeria’s legal and enforcement conundrum 115Ikpenmosa Uhumuavbi7 FATF standards and their impact on Sustainable Development Goals (SDGs) of Global South countries in the Asia-Pacific region 158Nicholas Morris, Louis de Koker, and Jeanne Nel 8 Civil asset forfeiture: unintended consequences of the framework in Nigeria and Ghana 205 Evelyn Ehigie 9 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

Edited by Nkechikwu Valerie Azinge-Egbiri, Lancaster University, Nicholas Ryder, Cardiff University, UK and Ehi Eric Esoimeme, James Hope University, Nigeria

• Contents1 Introduction: errors in transplantation and unintended consequences for developing countries 1Nkechikwu Azinge-Egbiri, Ehi Eric Esoimeme, and Nicholas Ryder2 Global AML/CFT standards: whose standards? 10Anthony I. Idigbe3 General issues with money laundering and the international political economy 40Ndidi Ahiauzu4 Developing economies and the implementation of global anti-money laundering standards: an empirical investigation 59Sumedha Deshmukh and Leonardo Borlini5 Selectivity and tokenism: framing the anti-money laundering and counter-terrorist financing regime created by the Financial Action Task Force (FAFT) 94Nkechikwu Azinge-Egbiri and Constance Gikonyo6 FATF’s listing approach and the collective action problem: assessing Nigeria’s legal and enforcement conundrum 115Ikpenmosa Uhumuavbi7 FATF standards and their impact on Sustainable Development Goals (SDGs) of Global South countries in the Asia-Pacific region 158Nicholas Morris, Louis de Koker, and Jeanne Nel 8 Civil asset forfeiture: unintended consequences of the framework in Nigeria and Ghana 205 Evelyn Ehigie 9 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