EIRP Proceedings, Vol 2 (2007)

Abstract

The total of the sums involved in money laundering is huge and stands in the way of the economic
development of many countries.
The globalizing era has produced an explosion in the volume of illegitimate commercial and financial
transactions.
Money laundering is the final stage of transferring crime in high profitable and effective production
with illegal and harmful for a country concentration of economic and after political power in hand of the group
being beyond of society control.
“Dirty money” is money that is illegally earned, illegally transferred or illegally utilized. If it breaks
laws in its origin, movement or use, then it qualifies for the label.
As many international experts think, the latest success of the European countries at the sphere of
combating laundering, having got from criminal structures huge capital and precede the great amount of
breaking law, which are just in process, are directly linked with the using the complex of measures, stipulated by
the Convention and other international agreements.
On the European level the coordination of efforts in the “dirty” money laundering was represented in
the “Convention on money laundering, discovering, arrest and confiscation of discovered means received in a
criminal way” adopted by the Council of Europe (Strasburg, 08.01.90; further – the Convention), and also in the
directive approved by the Council of the EU as of February 14, 1991, No.91/308/CEE as for preventing use of
finance system for money laundering. The directive of the EU assigned spread of the provisions concerning
combating laundering not only on profits from drugs business and also on terrorism and other kinds of
organized crime.