Efforts to impede the supply of illegal drugs and the laundering of illegal drug money have been expensive and largely ineffective. The authors propose that supply-reduction drug policy concentrate on impeding the reintroduction into the banking system of the large volumes of small-denomination paper currency (primarily $1, $5, $10, and $20 bills) generated in street-level drug sales. Such highly focused policy might better achieve the supply-reduction goals of the “war on drugs” advocates and the harm-reduction goals of drug legalization advocates.
Get full access to this article
View all access options for this article.
References
1.
Associated Press. -2000, December 6-. Panel recommends reform in drug law. New York Times.
2.
Bergman, L. -2000, October 10-. U.S. companies tangled in web of drug dollars. New York Times.
3.
A better approach to drug offenders [Editorial]. -2000, October 26-. New York Times.
4.
Bonner, R. -2000, November 29-. Inquiry grows in laundering of money. New York Times.
5.
Evans, R. L., & Berent, I. M. -Eds.-. -1992-. Drug legalization. LaSalle, IL: Open Court.
6.
Feuer, A. -2000, October 4-. Officer and wife accused of laundering cash. New York Times.
7.
Hepburn, J. R., Johnston, C. W., & Rogers, S. -1994, October-. Do drugs. Do time: An evaluation of the Maricopa County demand reduction program -National Institute of Justice research in brief-. Washington, DC: U.S. Department of Justice.
8.
Inciardi, J. A. -Ed.-. -1991-. The drug legalization debate. Newbury Park, CA: Sage.
9.
Kahn, J. -2000, November 25-. U.S. and I.M.F. welcome Salvador's adoption of dollar. New York Times.
10.
Karel, R. B. -1992-. A model legalization proposal. In J. A. Inciardi -Ed.-, The drug legalization debate -pp. 80-102-. Newbury Park, CA: Sage.
11.
Labaton, S. -2000, April 12-. Congress raises burden of proof on asset seizures. New York Times.
12.
Maroldy, L. M. -1991-. Recordkeeping and reporting in an attempt to stop the money laundering cycle. Notre Dame Law Review, 66, 825.
13.
Moore, M. H. -1983-. Controlling criminogenic commodities. In J. Q. Wilson -Ed.-, Crime and public policy -chap. 8-. San Francisco: ICS.
14.
Nadelmann, E. A. -1989-. Drug prohibition in the United States: Costs, consequences, and alternatives. Science, 245, 939-947.
15.
Nieves, E. -2000, November 10-. California gets set to shift on sentencing drug users. New York Times.
16.
Peers, A. -1994, September 21-. Tale of two bankers in laundering case sets stage for brokers. Wall Street Journal, p. A1.
17.
Rempel, W. C. -1993, July 4-. Taking the cartels to the cleaners. Los Angeles Times.
18.
Reuters. -2000, October 30-. Major banks agree to anti-money-laundering code. New York Times.
19.
Robinson, J. -1996-. The laundrymen: Inside money laundering, the world's third-largest business. New York: Arcade.
20.
Rohter, L. -2000, October 30-. Latest battleground in Latin drug war: Brazilian Amazon. New York Times.
21.
Sabbag, R. -1997-. Hot crime: Money laundering. Rolling Stone, 767, 81-88.
22.
Semesky, D. C., Jr., & Taylor, C. M. -1995-. Money laundering forfeitures—Landmark structuring case provides guidance. BJA Bulletin—Asset Forfeiture Series. Washington, DC: U.S. Department of Justice.
23.
Walker, S. -1994-. Sense and nonsense about crime and drugs -3rd ed.-. Belmont CA: Wadsworth.
24.
Webster, B., & McCampbell, M. S. -1992, September-. International money laundering: Research and investigation join forces -National Institute of Justice research in brief-. Washington, DC: U.S. Department of Justice.
25.
White House. -1997-. National drug control strategy. Washington, DC: Government Printing Office.
