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Money laundering operations and effects processors - United Arab Emirates, Lebanon Case Study | ||
| Journal of Administration and Economics | ||
| Article 1, Volume 0, Issue 94, 2018, Pages 39-53 | ||
| Author | ||
| M. D. Entesar Rezouki Wheeb | ||
| Abstract | ||
| Money laundering operations which cover the actual source of funding are considered one of the most significant approaches for the organized crime groups' penetration to the legal economy where the ties between corruption and organized crime which would suggest that investing as the aftermath capital may be made in fields damaging the economy. Therefore, it is considered the most dangerous economy crime as it affects negatively on many economic factors; including (distribution of the national income, inflation, unemployment rate, national currency value, domestic saving, tax increase, impact on the state financial and banking system, ... etc). All countries are subject to such phenomena and consequently the major challenge in this field is how to find the approaches and precautions to enable for detecting such cases and controlling their development and spread as money laundering always seeks to find countries without efficient protection systems as it is easy to be penetrated without raising any suspensions or inquiries. UAE and Lebanon are among the most endangered to the money laundering risks on their territories as they are being representing the states as the most advanced and openness towards the outer world among the Arab nations. The most major research findings is that UAE and Lebanon were got out of the list of the countries and counties that are non cooperative in anti-money laundering as a result to their efforts exhausted in this field. The Research concludes a set of recommendations that we see as an effective means to combat the money laundering phenomena and activities and controlling it completely or reaching to the minimum level . | ||
| Keywords | ||
| Economic hub | ||
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