Anti-Money Laundering Laws: The Possibility of Global Convergence

Money laundering is a phenomenon that has been known illegal by many countries, but the measure and the nature of the legal and criminal prohibition of using dirty money depends on the normative system of the lawmaking state. In other words, based on national considerations of each country in terms of the costs and benefits, the rules and systems that deal with money laundering are specific. Hence, all the countries of the world, even in the implementation stage, have not come to an agreement on the scope and the nature of anti-money laundering laws. In other words, legal norms have not come close together. If there is no universal value in fighting against money laundering because of different economic development and consequently various national laws, then sharing the cost of money laundering can be discussed. The question is that whether developing countries should contribute to the welfare of developed economics without reciprocity through the ratification and implementation of anti-money laundering legislation?