Selected economic and legal aspects of the fight against money laundering - impact on enterprises and public administration

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F18%3A43914568" target="_blank" >RIV/62156489:43110/18:43914568 - isvavai.cz</a>

Result on the web

<a href="http://www.wseas.org/multimedia/journals/economics/2018/a845907-623.pdf" target="_blank" >http://www.wseas.org/multimedia/journals/economics/2018/a845907-623.pdf</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Selected economic and legal aspects of the fight against money laundering - impact on enterprises and public administration

Original language description

This paper evaluates the benefits and the costs of anti-money laundering in the Czech Republic from 2010 to 2016 and it analyses the effectiveness of the AML measures. The third Directive of the European Parliament and of the Council 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing set strict measures against money laundering and a wide range of obligations for reporting entities. These measures were criticized mainly by the financial institutions for their high costs and missing empirical evidence about their effectiveness. The thesis analyses the costs and the benefits of the anti-money laundering in the Czech Republic and it also analyses the impact of the implementation of the strict measures pursuant to the directive according to the selected indicators. By combining theoretical findings with a data analysis I reached a conclusion that the fight against money laundering had become more effective after the implementation of the strict measures.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50501 - Law

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2018

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

WSEAS Transactions on Business and Economics

ISSN

1109-9526

e-ISSN

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Volume of the periodical

15

Issue of the periodical within the volume

1

Country of publishing house

GR - GREECE

Number of pages

7

Pages from-to

445-451

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85055783467