Vania Nestorova – University of National and World Economy, Student Town, Sofia, Bulgaria
DOI: https://doi.org/10.31410/LIMEN.2019.89
5th International Scientific-Business Conference – LIMEN 2019 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Graz, Austria, December 12, 2019, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-26-4, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.2019
Abstract
Money laundering is one of the most significant risks that threaten the financial systems at
national and international level. Efforts to curb this phenomenon have a history of about thirty years
and have undergone major developments. In condition of expanding of the globalization into various
spheres of economic and social life and the rapid pace of entering of the technology, the dynamics in the
development of the anti-money laundering policies reflects the need for greater protection of countries’
financial systems against the entry of criminally acquired funds and for better risk management. This
presentation traces the updating of international standards for combating money laundering in the last
decade and their upgrading with new measures, which to meet the challenges of nowadays reality. Objects
of analysis are the policies of particular importance for financial institutions, which aim to ensure
the stability of financial systems. The Standards of the Financial Action Task Force, as well as the 4th and
5th Directives of the European Union, are considered as main accents of the paper.
Keywords
Money laundering, Financial systems, Preventive measures.
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