Analysis of the effects from suspicious transactions reporting in the Republic of Macedonia, Montenegro and the Republic of Slovenia
Analysis of the effects from suspicious transactions reporting in the Republic of Macedonia, Montenegro and the Republic of Slovenia

Summary/Abstract: Money laundering is a joint problem of the mankind. Along with some other aspects of underground economic activity, rough estimates have been put forward to give sense of the scale of the problem. According to a study conducted by the United Nations Office on Drugs and Crime, in 2009 criminal proceeds amounted to 3.6% of global GDP, with 2.7% (or USD 1.6 trillion) being laundered. However, these estimates should be treated with caution. They are intended to give just an approximation of the magnitude of the problem. Due to the illegal nature of the transactions, precise statistics are not available and it is therefore impossible to produce a definitive estimate of the amount of money that is globally laundered every year. This study analyzes the statistical data gathered for three neighboring countries (Republic of Macedonia, Montenegro and Republic of Slovenia) related to the number of suspicious transactions reported annually, the corresponding activities taken, and the results achieved, the main purpose being exploring the effectiveness of the money laundering prevention systems in the selected countries. The study concludes that even though all the countries are similar with respect to territory, population, and structure and organization of their money laundering prevention systems, the results achieved from analysis and activities taken based on suspicious transactions reporting are significantly diverse from country to country.

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