The economic effects of money laundering and the role of banking service in combat it (a prospective study of a sample) | ||
| Accounting and Financial Studies Journal | ||
| Article 1, Volume 9, Issue 27, June 2014, Pages 306-331 | ||
| Abstract | ||
| Money laundering is consider a crime in legal perspective and a phenomenon of negative effects in economic and Social perspective for the various countries of the world by the diversity of their economies to make the badly damaged in the banking service and its reputation in some cases may lead to bankruptcy of banks, and the fact that banks is one of the most important circles that revolve the illicit funds, Due to its branched the banking operations, speed and overlap and increase it's complicated with the progress of banking operations and the use of electronic services modern here's challenges at various levels between the application of the legislation to combat money laundering and between actual fact it must find ways and means of legislative and applied to combat this phenomenon So it must find ways and means of legislative and applied to combat this phenomenon, so the goal of research to indicate the role of banks as a spearhead in the face of this dangerous phenomenon in order to protect themselves from financial risk and legal liability which requires the monetary authorities represented by central banks and commercial banks that to apply measures and procedures to combat this phenomenon. The study concluded that there is a commitment by the banks to refuse the research sample for the customer to open an account or engage in any banking operation in the case of non-completeness of the measures identified and that the banks applying precautionary measures Anti-money laundering well and that these measures do not cause obstruction of the work, as well as the need to strengthen international cooperation in this area. | ||
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