Summary of The Washing Machine

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The Washing Machine book summary
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Rating

8 Overall

7 Applicability

9 Innovation

7 Style

Recommendation

With huge swaths of the world’s economy taking place in the black market, money laundering has turned into an intractable problem with wide-ranging consequences. British journalist Nick Kochan offers an intriguing study of this shadowy world. He argues that laundering was an overlooked problem in the U.S. before the Sept. 11, 2001, attacks pushed the issue to the fore. Indeed, he says, Americans were oblivious to the effects of dirty money. Kochan details the sordid sagas of Russian gangsters, Colombian kingpins and corrupt Mexican bankers. At times, his broad approach hinders his prose, and his examples aren’t always as compelling as they should be. Still, getAbstract recommends this eye-opening study to anyone who deals with the global movement of money.

In this summary, you will learn

  • How money laundering has mushroomed;
  • How a few famous launderers operated; and
  • How U.S. authorities ignored laundering and now seem to be overreacting.
 

About the Author

Nick Kochan is a writer, journalist and researcher who covers bank fraud and white-collar crime. He writes for a number of publications, including Financial Times and The Economist.

 

Summary

From Al Capone to Osama Bin Laden
The world’s most ambitious crooks and killers, from Al Capone to Osama Bin Laden, have learned to game the international monetary system. From diamonds and drugs to cigarettes and weapons, criminals have found myriad ways to earn dirty money and then wash...

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