Money laundering in the modern crime system
| DOI | https://doi.org/10.1108/JMLC-08-2020-0085 |
| Published date | 18 November 2020 |
| Date | 18 November 2020 |
| Pages | 860-868 |
| Subject Matter | Accounting & finance,Financial risk/company failure,Financial compliance/regulation,Financial crime |
| Author | Georgy Rusanov,Yury Pudovochkin |
Money laundering in the modern
crime system
Georgy Rusanov
Department of Criminal Law, Criminal Process and Criminalistics, Russian
University of Peoples Friendship (RUDN), Moscow, Russian Federation, and
Yury Pudovochkin
Russian State University of Justice, Moscow, Russian Federation
Abstract
Purpose –This paper aims to study the roleof money launderingin the system of modern crime.
Design/methodology/approach –The methodology of this research will include the study of quite
obvious relationships, which in themselves do not need special substantiation today, namely, money
launderingand terrorism; money laundering and corruption; moneylaundering and organized crime.
Findings –The following methodsare used in the research process: studying thesentences of the courts of
the Russian Federationrelated to the conviction of persons for moneylaundering; analysis of national judicial
statisticsand statistics of international organizationsrelated to money laundering; a survey of 96 experts(law
enforcementofficers, scientists specializingin the study of combating money laundering,government officials
whose powersinclude activities to combat money laundering and the financing of terrorism).
Originality/value –Based on the resultsof the study, a number of conclusions were made. In particular,at
present, in view of the built-up effective system of measures to control the income received as a result of
certain types of criminal activity(corruption crime, organized crime, economic crime), moneylaundering has
taken a leadingrole in the structure of modern crime.
Keywords Money Laundering, Corruption, Crime system
Paper type Research paper
Introduction
The fight against money laundering in recent years has becomealmost the main priority of
the anti-crime policy. The international community, including the UN, has adopted a
number of special rules and regulations designed to counter this phenomenon (Durrieu,
2013). In particular, there is a United Nations Convention against Illicit Traffic in Narcotic
Drugs and Psychotropic Substances(adopted by the UN General Assembly in 1988) (unodc.
org, 2020); Conventionagainst Transnational Organized Crime (adopted by Resolution55/25
at the 62nd meeting, on 15 November 2000) (un.org, 2020a); UN Convention against
Corruption (adopted by the General Assembly on October 31, 2003) (un.org, 2020b), etc.
These documents have a significant impact on the domestic legislation of individual states,
set certain standards for combatingmoney laundering, adjust the provisions of the criminal
law, change the structure of law enforcement agencies and the directions of theirinteraction
among themselves,etc.
Meanwhile, such an assessment of money laundering was not considered at the outset.
For a long time, money laundering was not considereda criminal act. It was first declared a
crime in the USA in 1986, and in Saudi Arabia, for example,money laundering and terrorist
financing were completely criminalized only in 2003 (Odeh, 2010). Thus, criminal liability
for money laundering is a relatively new measure to counter this phenomenon, which in
JMLC
24,4
860
Journalof Money Laundering
Control
Vol.24 No. 4, 2021
pp. 860-868
© Emerald Publishing Limited
1368-5201
DOI 10.1108/JMLC-08-2020-0085
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