Review article
https://doi.org/10.46672/aet.9.1.2
PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING IN THE REPUBLIC OF CROATIA
Andreja Zorić
; Wiener osiguranje, Vienna Insurance Group d.d.
Abstract
Economic globalization has its positive sides, as it brings about the increasing integration of national economies around the world, especially through trade and financial flows. This includes trade in goods and services, capital flows, trade in currencies and securities, transfer of technology and ideas, and international workflows or migration. However, globalisation processes allow the so-called dirty money, acquired through various illegal activities, such as corruption, drug trafficking, arms or human trafficking, organised crime, financial fraud, etc., to be quickly and easily integrated deep into the financial system, which complicates the identification of its origin. In order to combat money laundering more successfully, international institutions and national legislatures have been increasingly regulating the prevention of money laundering and terrorist financing through law regulations, numerous recommendations and guidelines. Anti-money laundering systems at national level and cooperation at international level are of paramount importance to successfully prevent money laundering. Since the Republic of Croatia is also one of the links in the globalization process and is not exempt from the dirty money cashflow, it is important to analyze and interrelate the empirical data from the entire process and system of prevention of money laundering and terrorist financing, but also to associate them to the exposure to the risk of money laundering and terrorist financing. In this way, past conditions and developments are associated to the expectations in the anti-money laundering process.
Keywords
money laundering, terrorist financing, anti-money laundering system
Hrčak ID:
303978
URI
Publication date:
13.6.2023.
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