Session

Management, Business and Economics

Description

The globalization of economic activities and financial markets has had a very positive impact on the world economy. But this effect has also its costs. It can facilitate the ways by which money can be laundered internationally which is one of the biggest costs that this phenomenon creates. Among many analysts there is a discussion about the relationship that exists between globalization and money laundering, as well as economic implications of large-scale money laundering. Money laundering threatens the economic and financial systems in many countries, and has important effects on income distribution and macroeconomic variables. The negative effects of money laundering on economic development are difficult to measure, but it is obvious that such activity seriously damages the financial sector economy by diverting resources, encourages crime and corruption and distorts the trade indicators in the international sector. The main focus of this paper is the effect and impact that money laundering has in the agencies and institutional structures as well as the global financial consequences that brings this criminal activity.

Keywords:

Money laundering, Albania, Balkans, Fighting Crime

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-12-3

First Page

13

Last Page

20

Location

Durres, Albania

Start Date

7-11-2015 9:00 AM

End Date

7-11-2015 5:00 PM

DOI

10.33107/ubt-ic.2015.16

Included in

Business Commons

Share

COinS
 
Nov 7th, 9:00 AM Nov 7th, 5:00 PM

Money Laundering Effects

Durres, Albania

The globalization of economic activities and financial markets has had a very positive impact on the world economy. But this effect has also its costs. It can facilitate the ways by which money can be laundered internationally which is one of the biggest costs that this phenomenon creates. Among many analysts there is a discussion about the relationship that exists between globalization and money laundering, as well as economic implications of large-scale money laundering. Money laundering threatens the economic and financial systems in many countries, and has important effects on income distribution and macroeconomic variables. The negative effects of money laundering on economic development are difficult to measure, but it is obvious that such activity seriously damages the financial sector economy by diverting resources, encourages crime and corruption and distorts the trade indicators in the international sector. The main focus of this paper is the effect and impact that money laundering has in the agencies and institutional structures as well as the global financial consequences that brings this criminal activity.