Georgi Petrunov – University of National and World Economy, Sofia, Bulgaria, boul.8th December, Bulgaria
DOI: https://doi.org/10.31410/LIMEN.2020.371
6th International Scientific-Business Conference – LIMEN 2020 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Online/virtual, November 26, 2020, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-39-4, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.2020
Abstract
The article analyzes the dangerous links between two criminal activities that are widespread in contemporary societies, corruption and money laundering. The spread of both crimes has a serious negative impact on our economies and societies. Moreover, the links between corruption and money laundering contribute to the criminalization of the state itself. The article describes the main characteristics of each criminal activity, focusing on the specific connections between them, and argues for the need of effective integrated counteraction policies.
Keywords
Corruption, Money laundering, Politically exposed persons.
References
Argandoña, A. (2003). Private-to-private Corruption. Journal of Business Ethics, 47(3), 253-67. https://doi: 10.2139/ssrn.685864.
Barone, R., Masciandaro, D., & Schneider, F. (2019). Money laundering and corruption: Birds of a feather flock together. SSRN Electronic Journal. https://doi: 10.2139/ssrn.3400674.
Chaikin, D., & Sharman J.C. (2009). The Corruption-Money Laundering Nexus. In Corruption and Money Laundering. Palgrave Series on Asian Governance (pp. 7-30). New York: Palgrave Macmillan. https://doi.org/10.1057/9780230622456_2.
Egmont Group. (2018). Set of Indicators for Corruption Related Cases from the FIUs Perspective. Available at: https://egmontgroup.org/en/content/new-publication-set-indicators-corruption-related-cases-fius-perspective.
FATF. (2012). Specific Risk Factors in Laundering the Proceeds of Corruption. Paris: FATF.
Fontana, A. & Pereira, P.G. (2012). Using money laundering investigations to fight corruption in developing countries. Anti-Corruption Research Center.
Gopinath, C. (2008). Recognizing and Justifying Private Corruption. Journal of Business Ethics, 82(3), 747-754. https://doi: 10.1007/s10551-007-9589-8.
Levi, M., Dakolias, M., & Greenberg, T.S. (2007). Money Laundering, the Highway of Grand Corruption. In E.J. Campos & S. Pradhan (Eds.), The Many Faces of Corruption (pp. 389-426). Washington, D.C.: The International Bank for Reconstruction and Development/The World Bank. https://doi: 10.1596/978-0-8213-6725-4.
Livescu, I. (2017). The link between Money Laundering and Corruption Is the fight effective? A thesis submitted in partial fulfillment of the requirements for the degree of Masters in European Union Law awarded by the Tilburg University Law School, Tilburg, The Netherlands.
Maltz, M. (1985). Toward Defining Organized Crime. In H. Alexander & G. Caiden (Eds.), The Politics and Economics of Organized Crime (pp. 82-95). Massachusetts/Toronto: Lexinton Books.
Medina, L., & Schneider, F. (2018). Shadow Economies Around the World: What Did We Learn Over the Last 20 Years? IMF Working Paper African Department, WP/18/17.
Mugarura, N. (2016). Uncoupling the relationship between corruption and money laundering crimes. Journal of Financial Regulation and Compliance, 24 (1), 74-89.
Nonchev, A, (2019). State capture of the Post-socialist state: challenges to European integration. Research Papers of UNWE, 3, 203-213. (in Bulgarian).
Petrunov, G. (2010). Organized Crime and Corruption as a Part of the Genesis of Deviant Societies: On the Example of the Crime Case „Human Trafficking“. Sociological Problems, 42 (1-2): 334-349.
Sartor, M.A., & Beamish, P.W. (2020). Private Sector Corruption, Public Sector Corruption and the Organizational Structure of Foreign Subsidiaries. Journal of Business Ethics, 167, 725–744. https://doi.org/10.1007/s10551-019-04148-1.
Sharman, J. C. (2011). The Money Laundry: Regulating Criminal Finance in the Global Economy. Ithaca, NY: Cornell University Press.
Shehu, A.Y. (2005). International initiatives against corruption and money laundering: an overview, Journal of Financial Crime, 12(3), 221–245. https://doi.org/10.1108/13590790510624828.
Stoyanov, A. (2018). Private sector corruption in Bulgaria. Sofia: CSD.
Stoyanov, A. & Gerganov, A. (2019). State capture: from theory to piloting a measurement methodology. UNWE Yearbook, 2, 19-46.
Tanzi, V. (1998). Corruption around the world: causes, consequences, scope and cures. International Monetary Fund staff papers, 45, 559–594.
Quintanilla, P.B., Cummins-Tripodi, P., Marié, A, & Mussio, E. (2018). The costs of corruption across the EU. The Greens/EFA Group in the European Parliament. Available at: https://www.greens-efa.eu/files/assets/docs/the_costs_of_corruption_across_the_eu.pdf.
UN. (2015). Transforming our world: the 2030 Agenda for Sustainable Development. Available at: https://sustainabledevelopment.un.org/post2015/transformingourworld.
UNODC. (2004). The Global Programme Against Corruption: UN Anti-Corruption Toolkit. Available at: https://www.un.org/ruleoflaw/blog/document/the-global-programme-against-corruption-un-anti-corruption-toolkit/.
UNODC. (2018). UNCAC 15th Anniversary. Available at: https://www.unodc.org/unodc/corruption/.
Van Duyne, P. (2003). Money Laundering Policy: Fears and Facts. In P. Van Duyne, K. von Lampe & J. L. Newell (Eds.). Criminal Finance and Organizing Crime in Europe (pp. 72-109). Nijmegen, Netherlands: Wolf Legal.
World Bank. (2018). Combating Corruption. Available at: https://www.worldbank.org/en/topic/governance/brief/anti-corruption.
