The transnational nature of corruption and money laundering is a compelling reason to develop instruments and initiatives for combating these problems at the global level. This paper presents an overview of initiatives undertaken by agencies such as the United Nations Organization (UNO), the Organization for Economic Co-operation and Development, the Financial Action task Force (OECD/FATF), Interpol and other cross-national initiatives by both governmental and nongovernmental organizations in the global approach to the prevention and control of corruption and money laundering. It is crucial to state that all international initiatives have their weaknesses due to the structure of the international system itself and the politics of interstate relations. The assumption is made that these initiatives will work as states ratify and respond more willingly in the pursuit of cross border crime. However, this assumption is challenged by the constraints of international cooperation. References