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Money laundering - form in expansion of economic and financial infractionality

Author

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  • Nanes, Ovidiu

    (Universitatea Spiru Haret, Facultatea de Finante si Banci)

Abstract

The term money laundering comes from the alcohol prohibition in the U.S. when, in the 1920s, acquaintances groups Mafia leaders in Chicago, in particular, have opened public laundries, and to hide and blend funds with money from legitimate trade alcohol and other criminal activities. Although the term money laundering occurred in the twentieth century, the phenomenon has existed many centuries before: in some antique dealers hiding their wealth from more or less honest, investing them in other provinces or states, where they were not asked how they obtained, the medieval era, when usury was condemned by the Catholic Church, is considered capital murder and sin, all merchants and their camatarii mask interest on loans granted by various techniques, and the amounts obtained were invested in the business carried on.

Suggested Citation

  • Nanes, Ovidiu, 2009. "Money laundering - form in expansion of economic and financial infractionality," Papers 2009/35, Osterreichish-Rumanischer Akademischer Verein.
    • Handle: RePEc:ris:sphedp:2009_035
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    More about this item

    Keywords

    money laundering; economic delinquency;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods

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