Commercial banks in criminal money laundering schemes
Journal Title: Науковий журнал "Економічний вісник Донбасу" - Year 2018, Vol 4, Issue 54
Abstract
In today's world, globalization provides an opportunity for economic agents to carry out free cross-border movement of financial resources, and through the banking system, without any particular obstacles and in search of a favorable location for high returns. This, however, is a potential opportunity and the money obtained from criminal activity to obtain legal origin through established money laundering schemes implemented through commercial banks. The purpose of this study is to outline the role of commercial banks as a money laundering mechanism by presenting their inherent characteristics within the scope of the Special Money Laundering Act (LMML) and to assess their importance as a permanent monitoring and control of compliance with the applicable standards against the above crimes.
Authors and Affiliations
T. Dimitrova
Keywords
Related Articles
- EP ID EP496872
- DOI -
- Views 83
- Downloads 0
Formation of territorial natural-economic countries and reformation of social and economic space of Ukraine
The methodological basis for the formation of a new regional map of Ukraine in the format of territorial natural economic districts was formulated and justified, which provided for the provisions of the Agreement on the...
Basic tendencies of development, prospects and possibilities of providing of steady development of machine-building enterprises, are in Ukraine
In the article the problems of machine-building, that present a threat to steady development and economic security in Ukraine was discussed. Сertain next indexes of estimation of the modern state of engineer of country:...
State regulation of tourist services Ukraine
The article defines the existing models of state regulation of tourism activities and the main regulatory and legal acts regulating the sphere of tourist services in Ukraine. It is established, for Ukraine it is most exp...
Methodology for assessing the management of strategic risk of the bank
The article proves the need to assess and monitor the strategic risk of the bank on an ongoing basis. The author's methodology for assessing the management of strategic risk of the bank, based on the international princi...
On the interdependence of competition, innovation, and competitiveness of enterprises
The evolution of the theory of competition is considered, theoretical views on its interpretation by representatives of various economic schools (directions) are characterized. It is substantiated that in modern conditio...