Money laundering on financial markets

According to global statistic there are 1.5 trillion dollars laundered
annually. This remarkable figure and the fact that money laundering directly affect
the integrity and functioning of financial systems, financial stability, general
economic and social of the entire development show why the concerns about this
phenomenon are growing on global level. The purpose of this paper is to show the
role of financial markets in the occurrence of money laundering. According to the
analysis of the typology of the FATF on money laundering in the financial markets,
7 criteria of the structure of the typology are given. Typology of financial markets
may be considered according to: financial products, methods of payment,
professional intermediaries, clients, and types of accounts, setting values and
neglectful financial officers.
This paper, except analysis of the use of certain forms of money laundering
in the financial markets, will provide guidelines to improve existing measures to
prevent money laundering in the financial markets. Also new measure instruments
will be proposed, which will be summarized in the paper from the comparative
analysis, and will be able to accommodate and implement in the region. Basic
normative for undertaking any serious social engagements for the reduction and
combat with this phenomenon remain for a unified system which will provide
collecting and update the available data-bank on money laundering at national
level.
Lack of knowledge of functioning of financial markets is one of the main
problems for detecting the phenomena money laundering and one of future
directions is to organize knowledge training for appropriate authorities (financial
investigators) to understand the roots of functioning of financial markets, financial
institutions, financial processes, changes and events.
Keywords: Financial markets, money laundering, the structure of typology,
financial stability, social development, finance officers, etc.