Money Laundering in the Republic of Kosovo During the Years 2013-2015

2016 ◽  
Author(s):  
Fatos Haziri
Keyword(s):  
Money Laundering ◽  
The Republic

scholarly journals International standards for combating money laundering with reference to the Republic of Serbia

2020 ◽  
Vol 62 (3) ◽  
pp. 87-104
Author(s):  
Radojica Lazić
Keyword(s):  
Risk Assessment ◽  
Money Laundering ◽  
International Standards ◽  
Financial Systems ◽  
Criminal Offenses ◽  
The Republic ◽  
Favorable Conditions ◽  
High Degree ◽  
The Impact ◽  
National Systems

Money laundering is increasingly becoming an issue of concern to the international community, as the states have realized that the harmonious activity of all international actors through the observance of the foreseen international standards is the most effective way of combating this type of crime. International documents have established a basic framework of activities for combating money laundering. This paper is focused on the analysis of the activities of international entities and their role in creating international standards in this field, as well as the impact of money laundering on various aspects of society and countries. In this connection, the paper first explains the international entities, then states their roles and all the most important international documents and then the results of the money laundering risk assessment in the Republic of Serbia with special emphasis on the criminal offenses with high degree threats for money laundering. Furthermore, it points to the importance of international entities and standards for the establishment of national systems that will be able to respond to the effects of money laundering and thereby create a successful financial system. Finally, the paper concludes that without the existence of international standards and activities of the international entities, appropriate conditions for effective combating of money laundering cannot be created, thereby providing more favorable conditions for the free flow of people and capital, as well as easier management of financial systems.

scholarly journals MONEY LAUNDERING RISK ASSESSMENT REGARDING THE ACCOUNTING PROFESSION

2021 ◽  
Author(s):  
Tajana Petrović ◽  
◽  
Sonja Cindori ◽  
Keyword(s):  
Money Laundering ◽  
National Level ◽  
Financial Statements ◽  
Risk Assessments ◽  
Legal Regulations ◽  
A Posteriori ◽  
Accounting Profession ◽  
Creative Accounting ◽  
The Republic ◽  
Illegal Activities

The assessment of money laundering and terrorist financing risks is conducted at the supranational and national level, including risk factors and risk variables. Based on the mentioned, the accounting profession is required to provide risk assessments at the level of obliged entities, which results in suspicious transactions reports. The number of suspicious transactions reported in the Republic of Croatia, as well in the world, is notably small, which speaks in favor of insufficient awareness of the threats posed by such conduct. The susceptibility of the accounting profession to illegal actions through the possibility of adjusting financial statements within the framework of creative accounting is evident, while due to non-compliance with legal regulations, unprofessionalism, and unethical needs, there is a need for forensic accounting. The peculiarities of the accounting profession support its ambiguous role in the detection of money laundering and other illegal activities, however, such measures are always implemented a posteriori.

scholarly journals UPAYA PUSAT PELAPORAN DAN ANALISIS TRANSAKSI KEUANGAN DALAM PENANGGULANGAN TINDAK PIDANA PENCUCIAN UANG

FIAT JUSTISIA ◽  
2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Eko Raharjo
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
National Level ◽  
International Community ◽  
Legal Issues ◽  
The Public ◽  
Financial Transaction ◽  
Criminal Offenses ◽  
Black List ◽  
The Republic

The issue of crime not only from the public spotlight in the local and national level, but also a serious concern of the international community. One crime that is now often used as a discussion by scholars of law, economics and banking apparatus of government and law enforcement are on the money laundering crime (money laundering), especially with the notion that the Republic of Indonesia is "heaven" for these practices criminal offenses or the crime of money laundering. The legal issues increasingly into the spotlight with the inclusion of the Republic of Indonesia in the black list or black list. Keywords: Center for Financial Transaction Reporting and Analysis, Money Laundering

The anti‐money laundering regime in the Republic of Nauru

2004 ◽  
Vol 7 (1) ◽  
pp. 75-83
Author(s):  
Trifin J. Roule ◽  
Michael Salak
Keyword(s):  
Money Laundering ◽  
The Republic

scholarly journals THE MOLDOVAN BANK FRAUD (2012-2015). A process tracing analysis of the Moldovan $1 billion money laundering

2020 ◽  
pp. 96-107
Keyword(s):  
European Union ◽  
Money Laundering ◽  
Secondary Analysis ◽  
Banking System ◽  
The European Union ◽  
Eu Membership ◽  
The Difference ◽  
The Republic ◽  
The Stability ◽  
The Eu

In the 2012-2015 period, $1 billion have been stolen from three Moldovan banks, which is the equivalent of 12% of the country’s GDP. The highly fraudulent environment in the RM allowed for the successful application of fraudulent schemes for three years, without it being seized and frozen. This paper seeks to decipher the schemes that were applied as well as argue how the integration into the European Union would have lowered the corruption and thereby prevent the fraud from happening. Even though several scholars discussed the bank fraud and how it affected the relationship between Moldova and the EU, they do not address how the steps of integration into the European Union could gradually regulate the level of corruption in the RM and subsequently eliminate the possible methods of committing the bank fraud. Through a comparative analysis of Romania and the Republic of Moldova, I aim to demonstrate that the difference between the level of corruption and the stability of the banking system in these two countries is due to EU membership. Further, through secondary analysis of qualitative data, and semi-constructed interviews, I conclude that, in theory, my argument holds – the instruments the EU applies on the candidate countries would not have allowed the fraudulent schemes to be put into action. However, the EU failed to apply the conditionality concept on Romania and thus, it is possible that the money laundering in the RM could have happened even if it had been a member of the EU.

scholarly journals Money laundering as a form of economic criminality – The case of the Republic of Kosovo

2019 ◽  
Vol 12 (3) ◽  
pp. 1860
Author(s):  
Orhan Maxhun Ceku ◽  
Sheqir Kutllovci ◽  
Ardian Emini ◽  
Petrit Nimani
Keyword(s):  
Money Laundering ◽  
The Republic

The role of the police in anti-money laundering

2019 ◽  
Vol 22 (1) ◽  
pp. 145-157
Author(s):  
Nikola Dujovski ◽  
Snezana Mojsoska
Keyword(s):  
Money Laundering ◽  
Social Life ◽  
Annual Reports ◽  
Comparative Approach ◽  
Main Body ◽  
Content Type ◽  
The Public ◽  
Republic Of Macedonia ◽  
The Republic

Purpose This paper aims to describe and discuss the role of the police in anti-money laundering, with particular reference to the situation in the Republic of Macedonia. Design/methodology/approach A doctrinal approach is used to describe the role of the police in anti-money laundering policy, as well as to discuss whether the police is the central and main body in the fight against this crime. Deductive and inductive methods are used to analyze the collected data about Macedonian activities, provided by domestic and international organizations and institutions. Government agencies, institutions and bodies with different capacities for identifying and combating money laundering are included. Findings According to global statistics, about $2tn is laundered annually. Money laundering directly affects general economic and social life and the entire development, which shows why the concerns about this phenomenon have been growing worldwide. The most important issue in combating money laundering refers to preventing and detecting the problem. The police have the central role in combating money laundering in the Republic of Macedonia, but they must co-operate with public prosecutors and other agencies to fight this crime with more success. Even though Macedonian legislation is harmonized with European Union (EU) directives, there are a lot of activities in the field of money laundering to be done to fulfill EU standards. Relevant collected data were acquired from MONEYVAL reports, annual reports from the Ministry of Interior, Public Bureau of Statistics and statistics from the public prosecutor’s office, including all published documents. Originality/value The paper answers questions related to the role and effectiveness of the police by examining different authorizations and powers. Different approaches in implementing the law are specified and suggestions to overcome “two voices” are given. A comparative approach is also used to demonstrate the number of criminal charges per year, mainly collected by the public prosecutor’s office. The authors analyze whether additional training is needed for the police. All institutions should collaborate with the police because money laundering offences may be disclosed during investigations of other offences.

scholarly journals Money laundering and the shadow economy in Kazakhstan

2014 ◽  
Vol 17 (2) ◽  
pp. 128-140
Author(s):  
Nurlan N. Niyetullayev ◽  
Paul Almond
Keyword(s):  
International Law ◽  
Money Laundering ◽  
Conceptual Analysis ◽  
Shadow Economy ◽  
Legal Framework ◽  
Transitional Societies ◽  
Content Type ◽  
Shadow Economies ◽  
Legal Control ◽  
The Republic

Purpose – The purpose of this paper is to assess and highlight the approach taken towards the legal control of illicit money laundering taken in the Republic of Kazakhstan, in particular, the role played by an amnesty on the legalisation of illicit funds. This is particularly important as a basis for a wider discussion about the proper limits of the “criminalising” approaches commonly taken in anti-money laundering regulations. Design/methodology/approach – The discussion and evaluation in the paper is based upon a conceptual analysis of the money laundering regime in Kazakhstan, in particular, the legal framework and policies of implementation adopted. Findings – The paper demonstrates that the problems that are posed by the shadow economy in post-Soviet transition societies can make the blanket criminalisation of money laundering a self-defeating approach, unless accompanied by measures which allow for the achievement of “market-constituting” effects. Research limitations/implications – The paper draws on experience and practice in one jurisdiction only (Kazakhstan); it also limits its focus to one particular example of a money laundering amnesty policy. Both of these limitations, therefore, suggest avenues for further comparative research. Originality/value – The paper’s conclusions about the interactions between the shadow economies of transitional societies and the global anti-money laundering agenda have wider application in assessments of international law in this area.

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