The Crime of Money Laundering in Light of International Standards

Mohammed Muneer Adnan Adnan; Hiba Khaleel Abdullah; Hadeel Faris Hasan Hasan

المؤلفون

Mohammed Muneer Adnan Adnan University of Information Technology and Communications, Baghdad, Iraq المؤلف
Hiba Khaleel Abdullah University of Information Technology and Communications, Baghdad, Iraq المؤلف
Hadeel Faris Hasan Hasan Aliraqia University, Baghdad, Iraq المؤلف

الكلمات المفتاحية:

Money laundering، international standards، combating financial crime، FATF، United Nations conventions

الملخص

This research paper provides a comprehensive analysis of the crime of money laundering within the framework of international standards. It highlights the devastating economic and social impacts of money laundering, emphasizing its complex and evolving nature that transcends geographical boundaries. The paper examines key international legislative instruments and recommendations, including the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988), the European Convention (1990), the Financial Action Task Force (FATF) recommendations, the Basel Recommendations (1988), the Wolfsberg Principles, and Security Council Resolution 1373 (2001). It assesses the adequacy and effectiveness of these mechanisms in combating money laundering, particularly in light of rapid technological advancements. The study underscores the critical need for continuous updates to national legal systems to align with international standards, thereby enhancing global efforts to counter sophisticated money laundering methods and protect the integrity of the financial system.