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13 - Migrant Remittances and Money Laundering in Africa

from Part II - Participation

Published online by Cambridge University Press:  12 November 2021

By
Cristiano d’Orsi
Edited by
Tesseltje de Lange ,
Willem Maas  and
Annette Schrauwen
Tesseltje de Lange
Affiliation:
Radboud Universiteit Nijmegen
Willem Maas
Affiliation:
York University, Toronto
Annette Schrauwen
Affiliation:
Universiteit van Amsterdam
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Summary

This chapter investigates the intersection of the regulatory framework and practice of remittances of emigrants in Africa on the one hand and the regulatory frameworks of combating money laundering. The chapter contributes to the nascent scholarly literature on the peculiarities of interaction between the states parties of the African Union on the issues related to remittances and combating money laundering. The investigation reveals a complex relationship. At the core of this relationship lie a myriad of normative concepts relating to migrants and ‘money’: the fear of financing terrorism and human trafficking, the need for financial institutions to participate in the international financial configuration, the importance of remittances for the economies back home, and the struggle for migrants’ financial inclusion and reduced risk of falling victim to shady financial services, high costs, or even loss of their money. The chapter first discusses the global framework for remittances as designed by the World Bank and its relationship with the fight against money laundering and then presents three case studies: Somalia, South Africa, and Kenya.

Keywords

anti-money launderingremittancesbankingmigrationAfrica
Type
Chapter
Information
Money Matters in Migration
Policy, Participation, and Citizenship
 , pp. 223 - 244
Publisher: Cambridge University Press
Print publication year: 2021

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