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Impact of globalization on money laundering

Author

Listed:
  • Robert Claudiu HELLVIG

    (Valahia University of Targoviste)

  • Constantin Adrian BLANARU

    (Independent Researcher)

Abstract

This article addresses the complex relationship between money laundering and globalization. The way that global economy facilitated money laundering activities, the challenges of cross-border transactions and review the measures put in place to fight against this illicit practice are analyzed and examined. Money laundering is a complex and pervasive issue that poses a significant threat to the global economy and financial systems. It involves the process of transforming the proceeds of criminal activities into legitimate funds, allowing criminals to act with impunity enjoying the profits of their illicit activities. In the context of globalization, money laundering became even more difficult to fight due to growing of cross-border movement of funds, expansion of international trade and multiplication of offshore financial centers and the growth of digital currencies.

Suggested Citation

  • Robert Claudiu HELLVIG & Constantin Adrian BLANARU, 2023. "Impact of globalization on money laundering," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 32, pages 91-95, September.
    • Handle: RePEc:cmj:seapas:y:2023:i:32:p:91-95
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    More about this item

    Keywords

    money laundering; banking; globalization;
    All these keywords.

    JEL classification:

    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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