Everything about the financial system. What is money laundering and how does it affect each of us?
Everything about the financial system. What is money laundering and how does it affect each of us?
Author(s): Dumitru Pîntea
Subject(s): Business Economy / Management, Criminology, Financial Markets, Fiscal Politics / Budgeting, Corruption - Transparency - Anti-Corruption
Published by: EXPERT-GRUP Centrul Analitic Independent
Keywords: financial system; Corruption; money laundering;
Summary/Abstract: Globally, the phrase ‘money laundering’ means the process of hiding the origin of money obtained from certain crimes, while avoiding the legal consequences for those who committed these crimes. Money laundering is often associated with illicit activities, namely financial frauds, corruption, smuggling, drug trafficking, or extortion. In the absence of global cooperation, money laundering becomes both a sizeable and dangerous phenomenon. According to figures published by the World Bank, corruption generates annually more than USD 1 trillion (about 2.5% of world GDP), which need to be ‘laundered’ somehow.
Series: COMENTARII ECONOMICE PUBLICAŢII
- Page Count: 7
- Publication Year: 2018
- Language: English
- Content File-PDF
