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Transfer of Money Abroad

Author

Listed:
  • Din Alina-Valentina

    (University “Lucian Blaga “of Sibiu -Romania)

  • Popescu Luigi

    (University of Pitesti-Romania)

Abstract

In most of the cases, the first concern after committing the basic infraction is to transfer money abroad. The basic rule is that the person whose funds have to be transferred should not assume this risk. At the international level there are networks of professional couriers who take over the transfer action and provide the delivery of money abroad, at the established place.In certain money laundering schemes one may choose to create a foreign trust. The advantage in this case is that the owner of the capital may irrevocably transfer his property right to the trust, thus preventing the confiscation of the capital. The practice of money launderers has proven that these aspects are disadvantages which may be annihilated.

Suggested Citation

  • Din Alina-Valentina & Popescu Luigi, 2012. "Transfer of Money Abroad," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1359-1364, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1359-1364
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    More about this item

    Keywords

    money laundering; underground bank systems; infraction.;
    All these keywords.

    JEL classification:

    • G - Financial Economics

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