Title: Money Laundering as Specific Form of Fraud Management

Year of Publication: Dec - 2014
Page Numbers: 75-80
Authors: Dusko Tomic , Jelena Dinic
Conference Name: The International Conference in Information Security and Digital Forensics (ISDF2014)
- Greece

Abstract:


Money laundering is the legalization of capital and money obtained from crime and core activity of fraud management. This activity is carried out through financial transactions that obscure the original source of money or capital. Recurring modus operandi of money laundering is achieved through the falsification of documents and the manipulation of banking transactions. Money laundering is associated with various forms of threats to security as a source of financing terrorism, organized crime, trafficking of human and drugs. In the process of money laundering, exchange offices, casinos and insurance companies have important role, which are due to reduced regulatory oversight in relation to other institutions engaged in financial transactions. Global networking and interplay of many dimensions of globalization emphasis the necessity of solving the problem of money laundering on a global scale. Financing of political and economical processes obtained from money laundering is a serious security problem that has the impact even in the most economically developed countries in the world and requires special attention in creating mechanisms for the prevention of this type of criminal activity.