The devastating effects of money laundering on a nation’s socio economy: a case study of Malaysia

Azman, Izza Maryam and Zul Kepli, Mohd Yazid and Puniran, Mohd Noor Ikram (2018) The devastating effects of money laundering on a nation’s socio economy: a case study of Malaysia. In: The 8th International Conference on Postgraduate Education 2018, 3 -4 December 2018, Universiti Malaysia Terengganu, Kuala Terengganu Malaysia.. (Unpublished)

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Abstract

This article highlights the adverse consequences of corruption and money laundering and its crippling effect on the nation’s economy with special attention to the Malaysian landscape. This article argues that the effects are worse than previously predicted. The devastating effects include political instability, economic instability and digression, loss of control over economic policy, loss of reputation, loss of competitiveness, productivity and investment, loss of government revenue and privatization efforts. In addition, money laundering encourages crimes and reduces people’s lifestyle and quality of life. The main references for this article include analysis reports prepared by regulators, articles in established journals, newspaper reports and interviews with academicians and leading experts.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	6861/70718
Uncontrolled Keywords:	Money laundering, terrorism financing, corruption
Subjects:	K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Depositing User:	Dr Mohd Yazid Zul Kepli
Date Deposited:	05 Mar 2019 13:07
Last Modified:	05 Mar 2019 13:07
URI:	http://irep.iium.edu.my/id/eprint/70718

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