Combating money laundering crime And his role in stimulating investment
Professor Doctor Mohammed alminshawy
law - arabeast college - arabeast colleges
Abstract
Summary The volume of money laundering crimes in the world has expanded with the expansion and diversification of criminal activity, posing a grave danger to economic stability, especially in countries with a lack of mechanisms to combat it. The economic aspect of this crime has its seriousness on the economy, either directly or through the prolonged risks affecting its activities and with which it has created a field of economic practices that have an indirect effect on the economic side, which greatly affects the attracting of investments and even increases the chances of withdrawing them from the countries. Due to the instability in the stock exchanges, the increase in tax burdens, the weak purchasing power of national currencies, price turmoil, the destabilization of the value of the national currency locally and regionally, speculation on foreign currencies, and the emergence of the black market to exchange currency. In addition to the use of money laundered in the implementation of unproductive investment deals. Which prompted the international community, major financial centers, and international organizations to search for developing ways to combat this crime. International conferences were held, and many agreements were concluded at the international and regional level (such as the agreement (Vienna 1988), the agreement (Palermo 2000)) and the anti-corruption agreement (2003) and included These agreements instruct countries to review their national legislation to keep pace with technological developments to counter this crime. The crime of money laundering is defined as "the processes whereby any way is found to conceal the source of the funds obtained from illegal activities that are criminalized by law, and to attempt to legitimize and use those funds in what is called the formal or apparent economy." In this context, the crime of money laundering is considered an international organized crime, whereby a person conducts a series of successive financial operations on illicit funds resulting from illegal activities, punishable by law. The perpetrators of this crime often seek the help of intermediaries as a means of dealing, taking advantage of the climate of administrative corruption and the secrecy of bank accounts, with the aim of securing the proceeds of illicit funds from regulatory prosecution. It can be said that the crime of money laundering has an international dimension. Its sources were derived through illicit activities such as drug trafficking, slave, terrorism, bribery, arms smuggling, administrative corruption and other sources, their owners work in illegal, multiple and sophisticated ways to wash them and remove all doubts from them to appear as legitimate funds the source, then enter the economic cycle in the form of investment projects aimed at Breaking the link with the real source of it, without regard to the economic and non-economic consequences of its failure. This crime is of a special nature, as it is complex and complicated in its special aspects; it is a crime that is based on the creation of a false and artificial reality, which appears as real, i.e. creating and creating a false public reality, which appears to be legal and honorable, behind which hidden hidden crimes and illegal acts are hidden behind it. The technological development in the field of communications has helped to spread this crime, as operations have taken place at a tremendous speed, and it has become possible to conclude commercial deals with ignoring identity, in addition to a number of legal and accounting expertise and information companies being indulged in providing their expertise to facilitate money laundering by methods that prevent Legal accountability, which calls for the search for new and evolving mechanisms and more means of cooperation, to combat this crime. Therefore, we will address this research through two studies: In the first topic, we address the economic risks of money laundering crime and its impact on stimulating investment. Then we discuss in the second topic, the approach of comparative legislation in criminalizing money laundering operations.
Keywords
" money laundering " " Investment " " Control " a crime" " Economy" " Illegal" " International cooperation "
