Globalization and Money Laundering

The era of globalization has many advantages over the previous eras as it involves the international integration of information, capital, business and technology and leads to the development of the global market, free and capitalistic market, not of local ones. Now we are getting farther, faster, easier, cheaper, deeper, smarter, better, etc.

But aren’t there any side effects? There are, and major ones.

Nowadays globalization gives the criminals a advantage to swiftly transfer money across international borders. Now the “dirty” money can get into the international banking system farther, faster, easier, cheaper, deeper, smarter, better, etc. And it goes without saying that the deeper “dirty money” is hidden, the more difficult it is to identify its nature.

So, globalization is a great challenge for law enforcement and financial organizations.

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