Money laundering, suspicion and financial security

Blanchiment, soupçon et sécurité financière

Brigitte Pereira ()
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Brigitte Pereira: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School, NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université

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Abstract: Money laundering has become a main concern which appears through the increase of prevention instruments set forth in order to address it. Hence, we witness nowadays a preventive approach by the risks which consists of declaring any suspicious financial transaction with the possibility to stop the deal. However, the broad definition of what is considered to be a suspicious transaction leads to a kind of fi nancial insecurity and could eventually affect the regular fi nancial deals. Of course, the repressive system alone is not suffi cient and should be coupled with a preventive approach which requires the professionals involved in the process to be watchful and to declare suspicious transactions. Fighting money laundering involves different issues and rationales. Therefore it is necessary to strike a balance by taking into account other interests such as freedom of investment, bank secrecy, the right to non-interference in business. Moreover, this preventive approach set forth against money laundering, which requires all the economic actors involved in the process to become actual anti-money laundering agents, leads to disparities with regard to international cooperation.

Keywords: Financial insecurity; International cooperation; Money laundering; Monitoring obligation; Prevention; Suspicion; Coopération internationale; Prévention; Obligation de vigilance; Soupçon; Insécurité financière; Blanchiment (search for similar items in EconPapers)
Date: 2011
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Published in Revue internationale de droit économique, 2011, 25 (1), pp.43-73. ⟨10.3917/ride.245.0043⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02180721

DOI: 10.3917/ride.245.0043

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