Organized Crime and Money Laundering Trends and Countermeasures: A comparison Between Western and Eastern Europe

• NCJ Number: 193879
• Author(s): Sabrina Adamoli
• Date Published: 1999
• Length: 22 pages
• Corporate Author: Transcrime Research Centre on Transnational Crime
• Sale Source: Transcrime Research Centre on Transnational Crime
• Publication Format: Document
• Publication Type: Conference Material
• Language: English
• Country: United States of America
• Note: Downloaded March 23, 2002

Annotation

This paper presented an analysis of organized crime and money laundering trends, as well as legislative developments in the prevention of these criminal activities in Western and Eastern Europe.

Abstract

This paper, presented at the 1999 Training Seminar on Money Laundering in the Baltic Sea Region provides an overview of recent trends in organized crime and money laundering activities in Eastern and Western Europe and countermeasures taken at both the national and international levels. The analysis is divided into three main parts: (1) an outline of the most recent developments in the structure and activities conducted at the European level of organized crime groups; (2) an analysis of money laundering trends in Eastern Europe; and (3) a comparison of anti-money laundering legislation enacted by the countries of Eastern Europe and European Union. Several considerations were drawn from the analysis. There has been a growing exploitation of Eastern European countries for criminal purposes. Along with the emergence of new organized crime groups and the internationalization of existing ones, countries experienced political instability, corruption, high inflation, and unemployment rates. This facilitated the emergence of unregulated investment markets. Additionally, privatization programs allowing for the creation of new banking and financial institutions opened the door to criminal groups. Controlling organized crime and money laundering takes more than legislation. Several issues were identified as important: (1) create an environment that facilitates the integrity of the financial system; (2) develop an effective anti-corruption strategy; and (3) develop a coordinated effort through a effective international cooperation on law enforcement matters, aided by bilateral agreements between countries. A coordinated effort between Western and Eastern European countries is essential to ensure that the trends in money laundering are effectively taken into consideration and contrasted. References