International Crisis in the Context of Globalization and Money Laundering

Popa George Dorel ()
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Popa George Dorel: „Ovidius” University of Constanta, Faculty of Law, Public Administration and Sociology

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 2, 1065-1069

Abstract: Today, globalization and economic and financial crisis are the terms used to describe changes in society and the world economy. It is widely agreed that globalization has increased international trade and cultural exchanges, removing economic barriers. Increasing interdependence in international relations, besides positive aspects undoubtedly bring some negative aspects related to economy and security and public order. An economic and financial crisis that occurs in a country directly affects not only this country but the entire geographic region and even the world economy as a whole. Globalization in the current economic crisis will always lead to economic recession, lower loan rates, low budget world countries, the general economic downturn, which favors the growth of the underground economy and crime especially the phenomena of money laundering. Moreover, globalization has led to a border removal, which favored the cross-border organized crime. Today, organized crime, in various forms (trafficking of weapons, human beings, drugs, illegal immigration, money laundering) and terrorism are global threats and the actual economic and financial crisis tends to increase those phenomena having new forms and engaging new players on the world stage. Organized crime and money laundering in particular are not new phenomena. The novelty is the way of expansion, the magnitude of these phenomena and the way more people are involved in this system of organized crime.

Keywords: Globalization, Crisis, Money Laundry, Criminality, Effects (search for similar items in EconPapers)
JEL-codes: K00 (search for similar items in EconPapers)
Date: 2011
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