The essence of money laundering and preconditions for anti-money laundering measures
Journal Title: Вісник Запорізького національного університету. Юридичні науки - Year 2018, Vol 4, Issue
Abstract
The article reveals the purpose and methods of money laundering, as well as substantiates the destructive influence of this phenomenon on the sustainable development of society, which necessitates the introduction of measures directed towards preventing and counteracting the money laundering. It is stated that the essence of money-laundering is the concealment of the links between assets acquired as a result of the commission of crimes and the corresponding crimes for expanding the possibilities for the most secure, open and productive use of such assets with the least possible risk of being subjected to criminal punitive retribution for committing the predicate crime and the fact of using the proceeds from it. Methods of money laundering which, according to international standards are included in the legal definition of this phenomenon, is to conceal or disguise the illegal origin of such proceeds or sources of their origin, conceal or disguise possession or legal titles concerning them, conceal or disguise their location, change their forms (transformation), making a deal with them, performing a financial transaction with them, as well as their acquisition, possession and use. The dire need for the full use of the preventive and repressive potential of the law with a view to combat the money laundering stems from the fact that this phenomenon directly or indirectly leads to large-scale destructive consequences, including: 1) creation of a more favourable environment for criminals and criminal gangs (reducing the risk of exposure, ensuring the possibility of safe use of the crime proceeds in order to improve the political situation and well-being of criminals); 2) detrimental impact on the normal course of economic relations (distorted investment market and market prices, undermining fair competitive environment, etc.); 3) constraining the economic development of countries, especially developing countries and countries of transition (capital from such countries is transferred to developed countries with a more progressive financial system or to countries with preferential tax treatment, therefore, reducing attractiveness of the country as a contender for participation in international programs for cooperation and placement of foreign investments; the formation and implementation of state economic policy through the combination of the above factors is complicated).
Authors and Affiliations
М. В. Шевченко
Keywords
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