|
Financial Expert Implores Industry Regulators to Reevaluate Anti-Money Laundering Initiatives
Monday, February 12, 2024
New book shares the societal impacts of dirty money, and suggests that more could be done to prevent it
JOHANNESBURG, South Africa, Feb. 5, 2024 /PRNewswire-PRWeb/ -- After more than 20 years in the financial industry, Dawn Pretorius believes that the current anti-money laundering initiatives are not enough to deter or punish criminals. In her newest book, "The Shepherds of Inequality: And the Futility of Our Efforts to Stop Them," she shares her research on newsworthy money-laundering cases from the years of 2017 to 2022, and the methods that criminals use to launder money.
"Money laundering is pervasive," Pretorius said, "and yet some of the main protectors of society, such as governments, bankers, auditors, and big companies are the architects and beneficiaries of money laundering. This causes serious inequality in many countries around the world. The result is increased poverty, lower quality of education, war, and famine, as these criminals siphon money away from communities."
Criminals utilize tactics such as human trafficking, bribery, and more to achieve their goals. Pretorius believes that their continued success is due to the bureaucracy of compliance initiatives that cost financial services valuable resources and money, yet do not have particularly high success rates.
"I firmly believe that the legislation applied globally on anti-money laundering is insufficient and ineffective in dealing with money laundering," Pretorius said. "The wealthy are given many legal privileges in the form of taxes, company structures, shell companies and more that continue to perpetuate the problem and foster a culture of greed. These aspects continue to be protected, to society's detriment. The world is on the wrong path to minimize money laundering."
"The Shepherds of Inequality: And the Futility of Our Efforts to Stop Them"
By Dawn Pretorius
ISBN: 9781669848455 (softcover); 9781669848462 (hardcover); 9781669848448 (electronic)
Available at Xlibris, Amazon and Barnes & Noble
About the author
Dawn Pretorius has spent more than 20 years running her own consultancy business focusing on governance, risk, and compliance for financial services. Her practice is registered with the Financial Sector Conduct Authority in South Africa. Her career in the corporate world focused on banking, ranging from wealth management, international investment opportunities, estate and trust planning. She holds a Master's Degree in Commerce, B.Tech in Banking and has completed a Wits Business School Management Advancement Program. She is also a Fellow of the Institute of Bankers of South Africa. Her book, "Beyond Play," published in 2014 represents a down-to-earth approach to governance, risk, and compliance. To learn more, please visit https://shepherdsofinequality.com/.
Media Contact
Ashley Fletcher, LAVIDGE, 4809982600, afletcher@lavidge.com
View original content to download multimedia:https://www.prweb.com/releases/financial-expert-implores-industry-regulators-to-reevaluate-anti-money-laundering-initiatives-302052481.html
SOURCE Dawn Pretorius
|
|
|
|
|
|
 |
The New Identity Theft Crisis: AI Scams, Child Victims, and Credit Damage Are All Spiking | Jan 22, 2026
|
|
AllSci Launches Hypothesis Publishing: A Seamless Way to Share, Connect, and Advance Scientific Ideas | Jan 22, 2026
|
|
Darwin CX Caps a Banner Year with AI Launch, Sold-Out Events, and Industry Book Launch | Jan 22, 2026
|
|
Fintech Startup BON Credit Secures $3.5 Million In Funding | Jan 22, 2026
|
|
Nudge Security Unveils Industry's Most Comprehensive AI Security Governance Platform | Jan 22, 2026
|
|
PayDo Launches Unified Payment Infrastructure Suite for Digital Businesses | Jan 22, 2026
|
|
Young Adult Sports Fiction Debut Featured in LibraryBub Selection for January | Jan 22, 2026
|
|
IoTeX Publishes MiCA-Compliant Whitepaper for IOTX, Enabling EU-Wide Alignment Under the New Regulatory Framework | Jan 22, 2026
|
|
Canadian Fintech Tuhk Inc., Founded by Ethoca and NuData Security Veterans, Raises US$6 Million Seed Round Led by FINTOP, with Lloyds Banking Group and Capital One Ventures | Jan 22, 2026
|
|
TSX Venture Exchange Market Data Now Available Across Over 40 Blockchains via Chainlink | Jan 22, 2026
|
|
|
|
