Money Laundering: Case Studies and Countermeasures
Money laundering is the procedure by which a significant amount of unlawfully gained money, resulted from illegal activities such as drug smuggling and drug trafficking, arms dealing, human trafficking, corruption or other crimes, are transformed into lawful assets resulted from legal activities. If...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Editura ASE Bucuresti
2019-09-01
|
| Series: | Romanian Economic Journal |
| Subjects: | |
| Online Access: | http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2019-10-03/3575/31yflorea.pdf |
| _version_ | 1818270873657802752 |
|---|---|
| author | Iulia Oana Florea |
| author_facet | Iulia Oana Florea |
| author_sort | Iulia Oana Florea |
| collection | DOAJ |
| description | Money laundering is the procedure by which a significant amount of unlawfully gained money, resulted from illegal activities such as drug smuggling and drug trafficking, arms dealing, human trafficking, corruption or other crimes, are transformed into lawful assets resulted from legal activities. If done successfully, money laundering gives its authors the possibility to use the money resulted from illegal activities and give the impression to be derived from legal activities. Money laundering plays a crucial part, as it drives away the diligence of the law-enforcement institutions from the significant volume of income resulted in a short amount of time, from criminal activities. This paper aims to outline different money laundering techniques and issue suitable countermeasures resulting in a more powerful and competent fight against this phenomenon. The methodology used for this paper is made of case studies, relevant to the current topic, retrieved from the web as sources of information. The value of this paper is outlining different money laundering techniques used by the criminal groups, and in the end, issuing recommendations towards actions to be taken in the fight against money laundering by law enforcement and financial institutions. |
| first_indexed | 2024-12-12T21:17:12Z |
| format | Article |
| id | doaj.art-762ae6f646344f239e22b6db180e4795 |
| institution | Directory Open Access Journal |
| issn | 1454-4296 2286-2056 |
| language | English |
| last_indexed | 2024-12-12T21:17:12Z |
| publishDate | 2019-09-01 |
| publisher | Editura ASE Bucuresti |
| record_format | Article |
| series | Romanian Economic Journal |
| spelling | doaj.art-762ae6f646344f239e22b6db180e47952022-12-22T00:11:42ZengEditura ASE BucurestiRomanian Economic Journal1454-42962286-20562019-09-01XXII733950Money Laundering: Case Studies and CountermeasuresIulia Oana Florea0Bucharest University of Economic Studies, Doctoral School of International Economic Affairs, , Romania, Email: oana.stefanescu@stud.ase.roMoney laundering is the procedure by which a significant amount of unlawfully gained money, resulted from illegal activities such as drug smuggling and drug trafficking, arms dealing, human trafficking, corruption or other crimes, are transformed into lawful assets resulted from legal activities. If done successfully, money laundering gives its authors the possibility to use the money resulted from illegal activities and give the impression to be derived from legal activities. Money laundering plays a crucial part, as it drives away the diligence of the law-enforcement institutions from the significant volume of income resulted in a short amount of time, from criminal activities. This paper aims to outline different money laundering techniques and issue suitable countermeasures resulting in a more powerful and competent fight against this phenomenon. The methodology used for this paper is made of case studies, relevant to the current topic, retrieved from the web as sources of information. The value of this paper is outlining different money laundering techniques used by the criminal groups, and in the end, issuing recommendations towards actions to be taken in the fight against money laundering by law enforcement and financial institutions.http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2019-10-03/3575/31yflorea.pdfmoney launderingillegal transactionscrimefraud |
| spellingShingle | Iulia Oana Florea Money Laundering: Case Studies and Countermeasures Romanian Economic Journal money laundering illegal transactions crime fraud |
| title | Money Laundering: Case Studies and Countermeasures |
| title_full | Money Laundering: Case Studies and Countermeasures |
| title_fullStr | Money Laundering: Case Studies and Countermeasures |
| title_full_unstemmed | Money Laundering: Case Studies and Countermeasures |
| title_short | Money Laundering: Case Studies and Countermeasures |
| title_sort | money laundering case studies and countermeasures |
| topic | money laundering illegal transactions crime fraud |
| url | http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2019-10-03/3575/31yflorea.pdf |
| work_keys_str_mv | AT iuliaoanaflorea moneylaunderingcasestudiesandcountermeasures |