Search result for “money laundering”
Recovery of assets representing the proceeds of crime is one of the global problems faced by countries in the world today in tackling money laundering. This is because corruptors usually flee from the applicable laws and regulations in their country to hide assets representing the proceeds of crime abroad, so the crime will be difficult to trace. Corruptors are free to move assets representing the proceeds of crime to countries that have strict systems related to the security and confidentiality of fund owners and taxes that are quite low. At present, although many countries have agreed to exchange information about the existence of funds that are considered suspicious, there is still a loophole for corruptors to continue their evil intentions to move their assets to safe places and away from the pursuit of law enforcement agencies, through money laundering.