Money laundering - form in expansion of economic and financial infractionality

Ovidiu Nanes ()
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Ovidiu Nanes: Universitatea Spiru Haret, Facultatea de Finante si Banci

No 2009/35, Papers from Osterreichish-Rumanischer Akademischer Verein

Abstract: The term money laundering comes from the alcohol prohibition in the U.S. when, in the 1920s, acquaintances groups Mafia leaders in Chicago, in particular, have opened public laundries, and to hide and blend funds with money from legitimate trade alcohol and other criminal activities. Although the term money laundering occurred in the twentieth century, the phenomenon has existed many centuries before: in some antique dealers hiding their wealth from more or less honest, investing them in other provinces or states, where they were not asked how they obtained, the medieval era, when usury was condemned by the Catholic Church, is considered capital murder and sin, all merchants and their camatarii mask interest on loans granted by various techniques, and the amounts obtained were invested in the business carried on.

Keywords: money laundering; economic delinquency (search for similar items in EconPapers)
JEL-codes: E52 H87 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2009-06-16
New Economics Papers: this item is included in nep-his and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:ris:sphedp:2009_035

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