Mechanisms of money laundering obtained from cybercrime: the legal aspect

Yuriy Yu. Nizovtsev, Oleg A. Parfylo, Olha O. Barabash, Sergij G. Kyrenko and Nataliia V. Smetanina

Journal of Money Laundering Control, 2021, vol. 25, issue 2, 297-305

Abstract: Purpose - The use of computer technology to commit cyber laundering increases their social danger, creates new ways to commit cyber laundering, causes the masking of traces of cyber laundering and expands the geography of cyber laundering, while eliminating traditional state borders. That is why, the researched problems have a high level of relevance. The purpose of this research is to promote the spread of international standards in the field of combating money laundering, as well as an analysis of the mechanisms of money laundering obtained from cybercrime. Design/methodology/approach - The leading methods that were used in the article for the purpose of conducting research were a number of general scientific methods, such as analysis and synthesis, deduction, induction, forecasting, modeling, analogy and a number of special methods of study and cognition, which include comparative legal, historical legal, formal legal and structural functional methods. Findings - The main results prospects for further research and the applied value of the material. Large-scale cyber laundering of illegal income has long become a global problem that requires a solution from all states of the world, which means that these problems can only be overcome through active interstate cooperation. Originality/value - The article analyzes inter alia the international legislation in the field of money laundering mechanisms obtained from cybercrime and examines the activities of international organizations in this area.

Keywords: Cyberspace; Money laundering; International organizations; Cybercrime; International law; Cyber laundering (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-02-2021-0015

DOI: 10.1108/JMLC-02-2021-0015

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