Impact of money laundering on economic security

Through globalization, technological advances and greater
mobility of people and resources across national borders, money occupies a key position or becomes a major player in global markets. The globalization and increase of the use of money in transactions cause difficulties in monitoring them and lead to the increased risk of committing crime. Money laundering is a criminal activity which is difficult to control both in national economy and globally. Money laundering has a corrosive effect on the economy of a country.
The purpose of this paper is to show the impact of money laundering as an economic phenomenon in the security of the economy.
Money laundering undermines national economies through the impact on micro and macroeconomics, as follows: private sector, the integrity of financial institutions and markets, adversely affecting the demand for money and increased volatility of international capital flows, exchange
rates and interest rates and loss of tax revenue.
According to the world statistics assessment about 1.5 trillion dollars are laundered in the world anually. In the Republic of Macedonia, according to the Annual Report of the Office for Fight against Money Laundering and Financing Terrorism since 2009, the participation of suspicious transactions in GDP is 60% and it has to be an alarm to enhance measures to prevent money laundering.
This paper will offer future directions for strengthening the control and at the same time will indicate the need to implement a unified system for recording, collecting and displaying data that would function for international level in the national economy and will contribute to strengthening of the economic security from the money laundering phenomenon.
Key words: Economic security, money laundering,microeconomy,mac
roeonomy, system.