Prevention Of Money Laundering - The Problem Of Contemporary Banking
Prevention Of Money Laundering - The Problem Of Contemporary Banking
Author(s): Kostadin Pušara, Aleksandra PušaraSubject(s): Law, Constitution, Jurisprudence
Published by: Fakultet za poslovne studije i pravo
Keywords: money laundering; terrorism financing; prevention; harmonization with international standards; the implementation of in-depth analysis; information on the suspicious transactions
Summary/Abstract: The author presents a system of money laundering prevention and terrorism financing. Basic notions are defined and principles and fundamentals of international regulations are analyzed. Infiltration of dirty money is a serious problem for the national economy. Buying stocks, real estate, establishing of “dirty investment funds” and usage of the banking system for depositing such funds endangers credibility of the entire country, especially for the safety of the financial and banking system. Money launderers constantly find new ways, using new, non-financial channels and expand their activities to real estate, art, and insurance. It is therefore necessary to keep up European solutions and recommendations, to strive for further improvement and modernization of laws and enact new regulations harmonized with international standards, particularly with the 2005/60 EC Directive.
Journal: International Journal of Economics & Law
- Issue Year: 1/2011
- Issue No: 1
- Page Range: 97-104
- Page Count: 8
- Language: English
