Money laundering, WCO initiatives
30-06-2008
Money laundering has a considerable adverse impact on the social stability and economic development of a nation. It is not a stand-alone crime, but is intertwined with other crimes, which are
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called “predicate offences”. These offences include transnational organized crimes such as the smuggling of drugs, arms, stolen vehicles and artworks, the trade in counterfeit goods, and so on. This criminal trade generates a significant amount of illegal proceeds that need to be laundered, hence the need to find more avenues in which to do so.