Money Laundering Research Papers

Also, the “Butterfly Diagram” includes certain forms of legal and tax misuse which enable legalizing the specified activities.

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Coverage includes, but is not restricted to: , the official journal of the Cambridge Symposium on Economic Crime ( The Editorial and Publishing Teams of the Journal of Money Laundering Control are delighted to announce that the journal has been accepted in Scopus for its valuable contribution to the area of money laundering, relevant to both an international academic and professional audience.

This decision reflects the increasing quality and impact of the journal and the dedication of the editorial team, led by Prof Barry Rider and May Li-Hong Xing.

The need to take serious steps in the prevention of money laundering stems from the fact that the value of transactions performed with the goal of money laundering amounts to 2-5% of the World’s GDP.

This percentage covers two types of risks: one prudential, and the other macroeconomic as inexplicable changes in money demand, greater prudential risks to bank soundness, contamination effects on legal financial transactions, and greater volatility of international capital flow and exchange rates due to unanticipated cross-border asset transfers (Esoimeme, 2015, pp. When discussing money in the context of money laundering or terrorism financing, one should keep in mind that its role is often assumed by other tangible and intangible assets.

On the other hand, the opposite scenario, in which there is interest in money to be transferred from regular flows to alternative flows, including terrorism financing, is also common.

This paper will discuss legal business operations as a framework for money laundering and terrorist financing.Abstract: Money laundering and terrorist financing can be performed in many ways, regular business operations being among them.Business activities go through a large number of business changes, which offers numerous options for money or assets to enter the company via seemingly legal business transactions, enabling money or assets to remain in regular business flows once money laundering is completed.The term “money” has a broader meaning than just cash and it is synonymous with a specific property value which can be in either tangible or intangible form (De Goede, 2008, pp. In addition to cash, it also implies different forms of assets which have value and can be exchanged for money (land, buildings, inventory, securities, etc.) so it can be concluded that money is synonymous with assets bearing a certain material value.If the term money is approached as a value equivalent of an asset, the term money laundering may be expanded to cover the meaning of “asset laundering”.Cash flow cycles are presented in form of an algorithm as connections between irregularly and regularly acquired assets in the process of money laundering through business operations, as well as re-entry from regular flows into alternative cash flows.The “Butterfly Diagram”, presenting groups of business changes enabling entry of larger amounts of money and assets owned by a company in order to be laundered or their exit with the effect or tax evasion or terrorism financing, evolved from the algorithm.However, reality speaks in favor of the theory that these are financial activities connected to illegal financial schemes, including fraud, tax evasion, drug sales, white slave trade, corruption, but also terrorist financing.Terrorism is a term closely related to money laundering and it represents the most direct threat to national and international safety.In practice, it has been shown that business operations can be used as an excellent way to hide money laundering activities (Lemieux, Prates, 2011, pp. Business operations are suitable due to a large number of business activities enabling money and other forms of assets to enter regular flows.Money which needs to be laundered can originate from criminal acts, informal (grey) economy, including seemingly regular money flows (e.g.


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