The Economic-Financial Crime of the 21st Century

Maria Nițu, Dorel Paraschiv and Mihaela-Sorina Dumitrescu

Romanian Economic Journal, 2020, vol. 23, issue 75, 84-92

Abstract: Economic-financial crime generates major damage to national economies, the EU budget and globally. In recent years, the fight against this vast and complex phenomenon has been intensified, developing methods of combating, investigating and sanctioning the forms of manifestation of the economic-financial crime. At the international level, there has not been found a common definition of all the states regarding this phenomenon, as a result of the permanent evolution of the technical and human means that determine different ways of manifesting these activities. In a paradoxical way, financial economic crime is based on the rapid technological evolution, as well as the human traits. Currently, criminals have diversified their means of action and no longer resort to violence and intimidation, but to more peaceful methods, such as corruption, money laundering and cyber money laundering, with a huge psychological impact on the population. This article addresses the issues of economic and financial crime of today with reference to the main forms of manifestation, respectively, money laundering, corruption, underground economy. Also, the aim of this paper is to highlight the main fields and forms of manifestation, which in practical life are interwoven in a complex and diverse manner, in many fields of activity, as well as the characteristic features of this phenomenon.

Keywords: corruption; underground economy; money laundering; economic-financial crime; business crime (search for similar items in EconPapers)
JEL-codes: D73 (search for similar items in EconPapers)
Date: 2020
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