Money Laundering and Its Understanding by the Current Romanian Legal System – Origins, Mechanisms and Implications

Akad Yassar Al-Kasawnih ()
Additional contact information
Akad Yassar Al-Kasawnih: The Bucharest University of Economic Studies

Ovidius University Annals, Economic Sciences Series, 2021, vol. XXI, issue 2, 21-26

Abstract: Money laundering benefits from the evolution of technology. It is developing as a way of financial crime, from both perspectives: the prevention and sanctioning tools that are getting more and more sophisticated, but also the way in which this crime is being committed. Last but not least, having a banking system that encourages money laundering is not only counter-productive for the law enforcement officers and judicial system, but also for the economy system of a developing country, which will fail to attract investors. The purpose of this article is to present the legal framework of the Romanian judicial system when it comes to money laundering, but also to underline its flaws and its perspectives of improvement. It will also focus on the main methods that are being used in Romania for money laundering.

Keywords: money laundering; methods; legal framework; legislative proposals (search for similar items in EconPapers)
JEL-codes: E42 K40 K49 P44 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://stec.univ-ovidius.ro/html/anale/RO/2021-2/Section%201%20and%202/3.pdf (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:ovi:oviste:v:xxi:y:2021:i:2:p:21-26

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().