NON-FINANCIAL SECTOR AS A MONEY LAUNDERING BARRIER
NON-FINANCIAL SECTOR AS A MONEY LAUNDERING BARRIER

Author(s): Sonja Cindori
Subject(s): National Economy, Business Ethics, Corruption - Transparency - Anti-Corruption
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Money laundering; Beneficial owner; Independent professions; Risk; Advice.
Summary/Abstract: The variety of professions in a scope of non-financial sector offers the possibility to operate as professional money launderers. As intermediaries, they can support money launderers in concealing the true nature or source of illegally obtained proceeds. Their role in concealing the beneficial ownership while hiding, collecting and moving illegally acquired property is becoming increasingly attractive. The attractiveness of active or passive engagement depends on the ability to act within the specificity of the profession, as well as their competencies in conducting transactions.

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