Considerations on Combating Money Laundry in the Field of Crypto-Assets, at European Union Level

Carmina-Elena Tolbaru ()
Additional contact information
Carmina-Elena Tolbaru: Pitesti University Center, Romania,

RAIS Conference Proceedings 2022-2024 from Research Association for Interdisciplinary Studies

Abstract: Money laundry is a boosting phenomenon worldwide, affecting multiple domains of social life, and we need sustainable efforts to hinder the actions committed by offenders to hide the profits obtained from their offences. The complexity and magnitude of this phenomenon taking place at present is explained within the context of growth of technology, which opens new horizons concerning offence-related opportunities. Thus, offences such as tax evasion, financing terrorist organisations, drug trafficking, corruption, frauds, as well as any other illegal financial activities, are committed regarding the offence of money laundry, witnessing a form of organised cross-border criminality. Starting in 2021, the rate of illegal use of crypto currencies for the purpose of money laundry has registered a significant growth, which made the European Union establish a new regulation framework in the field of combating money laundry, extending the field of application of rules to crypto-assets transfers. This paper analyzes the growing global phenomenon of the use of crypto-assets for criminal purposes, examines the regulatory framework in the European Union, and provides practical recommendations that can help prevent and combat money laundering.

Keywords: money laundry; offenders; organised crime; crypto-assets; European rules (search for similar items in EconPapers)
Pages: 5 pages
Date: 2023-08
New Economics Papers: this item is included in nep-eec, nep-eur, nep-pay and nep-tra
References: View complete reference list from CitEc
Citations:

Published in Proceedings of the 33rd International RAIS Conference on Social Sciences and Humanities, August 3-4, 2023, pages 151-156

Downloads: (external link)
https://rais.education/wp-content/uploads/2023/09/0312.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:smo:raiswp:0312

Access Statistics for this paper

More papers in RAIS Conference Proceedings 2022-2024 from Research Association for Interdisciplinary Studies
Bibliographic data for series maintained by Eduard David ().