IDEAS home Printed from https://ideas.repec.org/a/rej/journl/v22y2019i73p39-50.html
   My bibliography  Save this article

Money Laundering: Case Studies and Countermeasures

Author

Listed:
  • Iulia Oana Florea

Abstract

Money laundering is the procedure by which a significant amount of unlawfully gained money, resulted from illegal activities such as drug smuggling and drug trafficking, arms dealing, human trafficking, corruption or other crimes, are transformed into lawful assets resulted from legal activities. If done successfully, money laundering gives its authors the possibility to use the money resulted from illegal activities and give the impression to be derived from legal activities. Money laundering plays a crucial part, as it drives away the diligence of the law-enforcement institutions from the significant volume of income resulted in a short amount of time, from criminal activities. This paper aims to outline different money laundering techniques and issue suitable countermeasures resulting in a more powerful and competent fight against this phenomenon. The methodology used for this paper is made of case studies, relevant to the current topic, retrieved from the web as sources of information. The value of this paper is outlining different money laundering techniques used by the criminal groups, and in the end, issuing recommendations towards actions to be taken in the fight against money laundering by law enforcement and financial institutions.

Suggested Citation

  • Iulia Oana Florea, 2019. "Money Laundering: Case Studies and Countermeasures," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 22(73), pages 39-50, September.
  • Handle: RePEc:rej:journl:v:22:y:2019:i:73:p:39-50
    as

    Download full text from publisher

    File URL: http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2019-10-03/3575/31yflorea.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    money laundering; illegal transactions; crime; fraud;
    All these keywords.

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rej:journl:v:22:y:2019:i:73:p:39-50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Radu Lupu (email available below). General contact details of provider: https://edirc.repec.org/data/frasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.