Fafo-paper 2003:07

Jonathan M. Winer

Globalizing Transparency

Implementing a Financial Sector White List

ISSN 0804-5135
2003 36 p NOK 106,- Order no: 705 Order

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Illcit finance network of global scope are facilitating instability and insecurity. Where there is grand corruption, narcotics trafficking, arms smuggling, civil conflict, terrorism, and war, there is illicit finance.
In this paper, Winer builds on the most significant recent work undertaken in the private and public sectors to suggest an incentive-based regime to assist global financial institutions in dealing with the most dangerous aspects of illicit finance. The global finance sector White List suggested here builds in the existing international institutional frameworks that governments and banks have set up to address money-laundering and related phenomena, adding incentives for banks to implement the highest agreed standards of transparency across their operations globally.

1. Introduction

2. A Global Financial White List

3. Existing Initiatives

4. Proposed White List Standards

5. Proposed White List Governance and Membership

6. Options Implementation

7. FAQ