Money laundering involves by definition tainted money – an illegal or corrupt act has already taken place. In that sense the more fundamental antecedents to money laundering need to be understood within the context of the overall rule of law, governance and anticorruption framework in a country, as well as within an international/global context (inter alia including multinationals and global banking). Thus, it is imperative to have an analytical, empirical and operational understanding of the fundamental preconditions and varying (from country-tocountry) manifestations of corrupt and criminal activities, all of which occur prior to the money laundering transaction taking place.....

I. Governance in Finance Framework II. Key Elements towards a two-stage AML learning strategy III. Phase I of the Strategy – very short term (FY’02)......