MONEY LAUNDERING LEGAL AND THEORETICAL ASPECTS
AUTHOR – DR. DEMA MATROUK ALOUN, ASSISTANT PROFESSOR OF COMMERCIAL LAW, FACULTY OF LAW/ ZARQA UNIVERSITY. CONTACT – DALOUN@ZU.EDU.JO
BEST CITATION – DR. DEMA MATROUK ALOUN, MONEY LAUNDERING LEGAL AND THEORETICAL ASPECTS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 881-897, APIS – 3920 – 0001 & ISSN – 2583-2344.
Introduction to Money Laundering
The present essay is focused on money laundering, widely acknowledged by different international bodies and instruments. In the domain of money laundering, two main aspects can be approached both doctrinally and practically. First, money laundering is viewed per se as well as from both historical and conceptual points of view. According to the law and the social approach, the historical perspective develops the emergence of money laundering practices and the transformation of traditional activities developed from the Far East or Silk Road to today’s worldwide economic criminal activities. Meanwhile, from a conceptual point of view, we emphasize the most significant theories and methods regarding the delimitation, definitions, fields and placement of money laundering in the general global context.
Money laundering represents the process whereby the assets or earnings obtained through criminal activities are invested into various legal activities and real legal assets or goods, as part of today’s free market or system, thus appearing to be lawfully and rightfully obtained resources. In addition, the concepts of money laundering also include the definition of proceeds of crime (direct or indirect benefit from criminal activities) and criminal assets (proceeds covered by money laundering offences found not to be invested into criminal activities). In the doctrinal framework, money laundering is viewed in the light of the main concepts of globalization, world economy, transnational, organized crime in correlation – i.e., with economic side of the criminal offences (the black economy).
Keywords: Money Laundering, Money, Legal, Theoretical