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Money Laundering and Terrorism in the Context of Globalization

Maria Ni?u ()
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Maria Ni?u: Bucharest University of Economic Studies


Abstract: In this article, are presented the negative effects of globalization, such as terrorism and money laundering, effects that sometimes overcome the true purpose of globalization: the development and improvement of human life. As it will be mentioned, these are harmful for the society in all respects, because of their fast developing to the modern world. The phenomena of money laundering and terrorism have managed to develop in all the countries with a complicated financial system. These complex organizations lead to poor legislation, a permissive and insufficient infrastructure that doesn’t combat and prevent such crimes. This research, in addition, shows that the fight against money laundering and terrorism is intensifying at international level through the already established organizations against the regarded crimes. However, in the context of globalization, it is very difficult to identify whether countermeasures and prevention measures implementation is higher or at least equal to the rate of crime rise. As a result, therefore the only way to combat money laundering and terrorism at national and international level lies in the cooperation between states. This should be based on a mechanism designed to reduce or, at best, eliminate the economical differences between states, on one hand, and coordinate internal and external regulation, on the other hand.

Keywords: Terrorism; Money Laundering; FATF; ONPCSB; Globalization (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:rom:conase:v:1:y:2018:i:1:p:151-156