Work detail

Money laundering

Author: Mgr.Tomáš Kafka
Year: 2005 - winter
Leaders: † doc. Ing. Jiří Havel CSc.
Work type: Finance and Banking
Language: Czech
Pages: 113
Awards and prizes: M.A. with distinction from the Dean of the Faculty of Social Sciences for an excellent state-final examination performance
Abstract: Money laundering, a process keeping alive all forms of organized crime, has raised real interest of the international community in the early 90´s. The community has become aware of the fact, that money laundering is the Achilles heel of the organized crime. The launch of the fight against money laundering came in a time, when the opponent is good fortified in the expanding off-shore tax havens, has accumulated the experience, how to use the financial system to its benefit and uses large scale of methods to escape or hide away from the prosecutors. My thesis deals with the current situation from two points of view, a global and a local (Czech) one. The first perspective is used to analyze the process of money laundering in large scale of all used methods and further to describe the development of the international legislative framework. The local perspective covers the sources of the illegal funds being laundered and deals with the Czech efforts against money laundering. In terms of the global point of view I search for arguments supporting the hypothesis that the success of the international fight against money laundering depends on closing of the leaks – closure or isolation of the refuges or organized crime and their illicit funds. Concerning the development in the Czech Republic, the thesis describes reasons for the low success of the local prosecutors.
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