THE IMPORTANCE OF MONEY LAUNDERING RISK ASSESSMENT AS PART OF ACCOUNTING OPERATIONS
Autor (i): Alina - Gabriela Mareș Raluca - Andreea Stoica
JEL: M40, M41, M48
Cuvinte cheie: money laundering, risk, prevention, regulated sector, fraud
Abstract:
The purpose of this paper is to present the importance of having an international Anti-Money
Laundering (AML) policy in place inside the business offering financial services.
Money laundering represent an easy way used by criminals and terrorists to keep themselves away
from the authorities attention and in the same time, have control of their assets. So, the first part of this paper,
will outline the threats that can be encountered by businesses operating into the ‘regulated sector’. These firms
are always at risk of providing services without knowing what is behind of a certain company’s activities and
that’s why suitable procedures are required.
The second part of the paper will concentrate on elements of money laundering prevention and
international Anti-Money Laundering programs. It is very important for the firms and individuals to understand the
Anti-Money Laundering legislation, as this will help to identify, report and prevent money laundering activities.
The multi-faceted process of globalization has created new opportunities for international economic
crimes. Criminals use a wide variety of methods to control and conceal the proceeds of their crimes, so anyone
involved in these types of operations is committing a money laundering offence. So, the employees in high-risks
industries need to identify unusual activities that can be associate with laundered money.
The purpose of this paper is to present the importance of having an international Anti-Money
Laundering (AML) policy in place inside the business offering financial services.
Money laundering represent an easy way used by criminals and terrorists to keep themselves away
from the authorities attention and in the same time, have control of their assets. So, the first part of this paper,
will outline the threats that can be encountered by businesses operating into the ‘regulated sector’. These firms
are always at risk of providing services without knowing what is behind of a certain company’s activities and
that’s why suitable procedures are required.
The second part of the paper will concentrate on elements of money laundering prevention and
international Anti-Money Laundering programs. It is very important for the firms and individuals to understand the
Anti-Money Laundering legislation, as this will help to identify, report and prevent money laundering activities.
The multi-faceted process of globalization has created new opportunities for international economic
crimes. Criminals use a wide variety of methods to control and conceal the proceeds of their crimes, so anyone
involved in these types of operations is committing a money laundering offence. So, the employees in high-risks
industries need to identify unusual activities that can be associate with laundered money.
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