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/.
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SOURCE Dawn Pretorius
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