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Money laundering: Analysis on the placement methods

Zul Kepli, Mohd Yazid and Nasir, Maruf Adeniyi (2016) Money laundering: Analysis on the placement methods. International Journal of Business, Economics and Law, 11 (5). pp. 1-9. ISSN 2289-1552

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Abstract

The International Monetary Fund (IMF) in 2015 estimated the size of money laundering to be at 2-5% of the world Global Domestic Production (GDP) with around USD800 billion to USD2 trillion being laundered. The global criminal activities are on the rise and the contribution of money laundering to exacerbate the problems associated with the upsurge in the criminal activities is unquantifiable. The negative effect of this on global economic development has grown to a staggering proportion. This is partly because the crisis experienced due to increase in criminal activities is borne out of the fact that the life blood of almost all the crimes are embedded in the financial system. Ironically, detecting money laundering becomes extremely difficult once it has been allowed to crystallized at layering level and finds its ways to the legitimate fund through integration mechanism. To combat money laundering, the parties must understand how money-laundering activities operate. The need to institute greater vigilance to prevent money laundering therefore becomes imperative. This has become the primary focus of most of the Anti-Money Laundering (AML) compliance measures and anti-crime initiatives at local and international levels. This paper therefore focus on the need to nib this dreaded crime at a point where it is almost likely to be detected. By using Malaysia as a focal point, the need to institute greater vigilance at placement level to salvage and ensure financial integrity in the banking sector as a necessary antidote to this problem is therefore the thrust or contention of this paper.

Item Type: Article (Journal)
Additional Information: 6861/65817
Uncontrolled Keywords: Money Laundering, placement, Malaysia
Subjects: J Political Science > JX International law
K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes: Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Ahmad Ibrahim Kulliyyah of Laws
Depositing User: Dr Mohd Yazid Zul Kepli
Date Deposited: 20 Sep 2018 16:26
Last Modified: 20 Sep 2018 16:26
URI: http://irep.iium.edu.my/id/eprint/65817

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