The concept of money laundering and terrorist financing

Authors

  • Darko Trifunović Ph. D of Security Studies, Professor at Faculty of Security Studies, Belgrade, Belgrade
  • Suzana Todorović Master of Security Studies, Ministry of Trade and Turism, Govermant of Republic of Srpska, Banjaluka
  • Zoran Janković Ph. D of Security Studies, Assistant of Police Commander, Banja Luka, Banja Luka

Abstract

The process of money laundering includes all illegal activities aimed to conceal the true source of money. Money laundering and terrorist financing is definitely closely related because in most of the cases the money resulting from this process used for financing of terrorist activities. The concept of money laundering applies to all types of post-criminal activities aimed to conceal material gain or values ​​acquired illegally, by investing in the financial and non-financial system with the final goal of their legalization (Cindori, 2010:6). By the process of money laundering, the perpetrators conceal the true origin and ownership of these funds-money, other property or rights acquired by criminal activity. Although the funds acquired by this process will never be legal within the frameworks of law, the process of money laundering will be ultimately successful only when it is able to conceal its true source or ownership. Since money laundering includes any money acquired from a certain type of criminal offence and therefore there is a close relationship between the concept of money laundering and criminal activities of any kind. In this sense, terrorist financing is a specific form of financial crime. Essentially, terrorist financing includes search, collection or provision of funds with the intention to be used for financing of terrorist act or organization.

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Published

2023-09-06

Issue

Vol. 6 No. 3-4 (2016): ČASOPIS VJEŠTAK

Section

Чланци