Purpose

There has been almost no scholarly work on the challenges of money laundering in sovereign states that use the US dollar as their currency of choice. This study aims to break the silence by highlighting how money laundering thrives in these situations mainly due to lack of or weak regulation of the US dollar by both the adopting states and the USA.

Design/methodology/approach

The research depended on various secondary data sources. It is an adapted academic version of a shorter piece for a professional magazine for professionals in the Anti-Money Laundering (AML) Field.

Findings

Preliminary findings show that due to the lack of regulation of the US dollar in dollarized economies, unscrupulous politicians, organized criminal gangs and multinational corporations among others can use a variation of the Black Market Peso Exchange (BMPE) to counteract money laundering controls and launder ill-gotten gains from crimes such as corruption, transnational crimes and tax evasion. Furthermore, ordinary citizens, migrant workers and small businesses avoiding stringent exchange rates are also using the black market, posing a further challenge to the law enforcement authorities.

Practical implications

The practical implications of this paper relate to how the mutations of money laundering techniques, as they are adopted by criminals, to operate in different conditions are making it difficult not only to dictate but also to address using traditional AML techniques.

Social implications

BMPE has far reaching social consequences. Hence, this study is significant to instigate a search for solutions and for further detailed studies into the money laundering techniques in countries that do not have a sovereign currency.

Originality/value

To the best of the authors’ knowledge, this is the first paper to discuss the unique challenges faced by countries that have adopted the US dollar for domestic use. The paper also shows how dollarization is a modest reminder that money laundering technique such as the BMPE can evolve to counter the legislative and regulatory environment of the various jurisdictions in which they are laundered.

中文翻译：

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使用美元的主权国家的洗钱挑战

目的

在使用美元作为首选货币的主权国家中，几乎没有关于洗钱挑战的学术研究。本研究旨在通过强调洗钱活动在这些情况下如何蓬勃发展来打破沉默，这主要是由于收养州和美国对美元缺乏监管或监管不力。

设计/方法/方法

该研究依赖于各种二手数据源。它是针对反洗钱 (AML) 领域专业人士的专业杂志的短篇改编的学术版本。

发现

初步调查结果表明，由于美元化经济体缺乏对美元的监管，肆无忌惮的政客、有组织的犯罪团伙和跨国公司等可以使用黑市比索交易所 (BMPE) 的变体来对抗洗钱控制和洗钱。 - 从腐败、跨国犯罪和逃税等犯罪中获得收益。此外，普通市民、农民工和小企业也在使用黑市，以避开严格的汇率，对执法部门构成进一步挑战。

实际影响

本文的实际意义涉及洗钱技术的突变，因为它们被犯罪分子采用，在不同的条件下运作，这使得不仅难以支配而且难以使用传统的反洗钱技术来解决。

社会影响

BMPE 具有深远的社会影响。因此，这项研究对于寻找解决方案以及进一步详细研究没有主权货币的国家的洗钱技术具有重要意义。

原创性/价值

据作者所知，这是第一篇讨论在国内使用美元的国家所面临的独特挑战的论文。该论文还展示了美元化如何适度提醒人们，诸如 BMPE 之类的洗钱技术可以发展以应对洗钱所在的各个司法管辖区的立法和监管环境。