The Negative Consequences of Money Laundering Crime On the Global Economy
Sahar AL-Hamli
Economics & Public Finance - KILAW - KILAW
Abstract
The money laundering crime is considered one of the crimes that are considered deviations from the general economic system, so the organized crime considered one of the most serious crimes affecting the international economy, where organized crime is carried out by gangs in the form of organizations that penetrate the economy to destroy it. The Organized crime has a strong relationship to the scourge of money laundering, a crime that all countries have long suffered from and it is a multifaceted crime practiced by criminal gangs possessing a variety of means. The relationship between organized crime and money laundering is the criminal basis, that is, the completion of the elements of crime and both affect the economy, whether at the national or international level. The study investigate if does the money laundering crimes have a negative impact on the global and local economy، also are international banks exposed to money laundering operations and what are the measures and controls that can be taken in the fight against money laundering .finally is there a role for international agreements in reducing money laundering crimes. The research aims to achieve the definition and legal concept of money laundering crimes although the history of the money laundering crime. also the tools and methods and the negative results and the economic, non-economic, social and political effects on the global economy, and whether there is an impact of international agreements in combating it. Finally the role for international agreements in reducing money laundering crimes. The study discusses the crime of money laundering and its gravity on the national and international economy and ways to combat it. exam the steps of this crime and ways to combat it to develop the national and international economy, by examining the concept of organized crime and the economy of crime, in addition to Reasons for criminalizing money laundering phenomenon and its concept. The crime of money laundering included several countries of the world organized by criminal gangs, so the intervention with this study deals with the steps of the crime of money laundering in addition to its impact on the economy and methods directed to combat this phenomenon. The researcher tries to achieve this through the following hypothesis. This lessening of the effects of the money laundering process has adopted advanced methods before Banks for the purpose of detecting and combating these operations. The Banks are the main target for money laundering operations. there is a lack of controls that give the official or employee the right to inquire about sources of money and banking operations. the modern services provided by banks (Internet banks, electronic banking services) also contribute to using them to implement money laundering operations. The researcher recommends establishing bodies to develop the role of central banks in monitoring and following up on operations banks to reduce this phenomenon. The need of global banks to go to laying the foundations and achieving the requirements for joining agreements and international about money laundering treatment.
Keywords
GLOBAL ECONOMY, MONEY LAUNDERING CRIME, INTERNATIONAL AGREEMENTS, NEGATIVE IMPACT ,
