Money laundering - an international phenomenon

• Author: Dan Lutescu - Catalin Ionut Bucur
• Position: Candidate to Ph.D Assistant. University of Pitesti - Candidate to Ph.D Assistant. University of Pitesti
• Pages: 106-110

106

MONEY LAUNDERING – AN INTERNATIONAL

PHENOMENON

Candidate to Ph.D Assistant Dan Lutescu

University of Pitesti

dancorespondent@yahoo.com

Candidate to Ph.D Assistant Catalin Bucur

University of Pitesti

bucurc2000@yahoo.com

Abstract:

The new millennium brought along the globalization of the world’s markets,

and an unprecedented increase in the national economies too. The development of

the global economy favored that of the transnational organized crime and

terrorism.

The increase of the funds resulted from the organized crime’s activity

determined an augmentation of the necessity to recycle these funds, generating the

alarming situation in which the underworld leaders and the operators involved in

the money laundering could control the economy or parts of it.

The laundering of funds affects the free access to the investment funds, the

legal labor market, the retail trade, the consumership and the production itself.

The International Community analyzed the etiology and outcome of the

business criminality, and recommended to the states members to take action in

order to limit it, but the diversity of the legislations and the social-economic

peculiarities worldwide made almost impossible the consecration of an accurate

definition of business criminality.

The authors of the present article conclude that only the consecration of a

common legal body shall help the competent national and international institutions

in their cooperation to reduce and eradicate the money laundering.

Key words: money laundering, organized crime, business criminality,

transnational economy, international cooperation.

The new millennium brought along not only a significant globalization of

the world’s markets, but also an unprecedented increase in the national economies.

Obviously, such processes favored the development of the global economy, but

also that of the transnational organized crime and terrorism.