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Anti-Money Laundering Regulations: Problems And Perspectives

Author

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  • DESMOND McFORAN

    (South-west university "Neofit Rilski")

Abstract

This paper looks at the broad spectrum of the global problem of money-laundering and how international reaction to this phenomenon has resulted in strict regulations with which all banks must comply, by creating internal systems and procedures for compliance with anti-money laundering regulations. The fact that these regulations have been significantly widened to include accountants and lawyers, for example, makes us all – to a greater or to a lesser extent – subject to these regulations. How the European Union and the United States have responded is also discussed, as is the relationship between these regulations and Basel II.

Suggested Citation

  • DESMOND McFORAN, 2005. "Anti-Money Laundering Regulations: Problems And Perspectives," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 1(3), pages 15-21.
    • Handle: RePEc:neo:journl:v:1:y:2005:i:3:p:15-21
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