Money laundering in times of global crises – new methods, new challenges
Abstract
In recent years, global crises such as the COVID-19 pandemic and the war in Ukraine have significantly impacted the functioning of the financial system. These events have altered not only the socio-economic landscape, but also the nature and methods of money laundering. Such crises have created new legal loopholes that have been exploited to legalise funds from illegal sources. This article aims to analyse the influence of global crises on money laundering, with particular emphasis on the new methods employed by criminals. The discussion includes the role of disruptions in financial control systems, large-scale migration, increased cash flows, and the rapid development of digitalisation and cryptocurrencies. The analysis demonstrates that crises facilitate the intensification of money laundering activities through the heightened operations of organised criminal groups and their ability to adapt to evolving conditions. The article highlights the need to modernise anti-money laundering (AML) systems, harmonise regulations at the international level, and strengthen cross-border cooperation.
Keywords:
money laundering, global crises, COVID-19 pandemic, war in Ukraine, anti-money laundering systems (AML)References
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