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
Recommended Citation
Gjoni, Mario; Gjoni, Albana (Karameta); and Kora, Holta (Bako), "Money Laundering Effects" (2015). UBT International Conference. 16.
https://knowledgecenter.ubt-uni.net/conference/2015/all-events/16
Included in
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.