Is Money Laundering the Main Funding Source for Cigarette Smuggling in (Non) European Countries?

Remeikienė, Rita; Gasparėnienė, Ligita; Yorulmaz, Özlem; Gagytė, Greta; Menet, Gabriela

doi:10.3846/btp.2022.14820

Cited by 3 publications

(2 citation statements)

References 18 publications

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“…Socio-economic development, the institutional and political setting or the prevailing social and cultural norms are all elements that can shape it in very different manners, but corruption is still a scourge from which no country is truly exempt and it is often reported to be an area of vulnerability for the countries of the western Balkans, including Albania (European Commission, 2011). In addition, as other researchers examine (Remeikiene, et. al., 2021), corruption always goes hand in hand with other negative phenomena, such as cigarette smuggling, money laundering and organized crime.…”

Section: Introductionmentioning

confidence: 79%

Phehomenon of corruption in Albania: towards cigarrete smugling

Raistenskis¹,

Kriviņš²,

Aļeksejeva³

2023

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The phenomenon of cigarette smuggling and corruption has become a very sensitive topic for responsible law enforcement authorities and reporting entities. The issue needs to be addressed effectively and systematically regardless of the overall economic, financial and fiscal situation in the country. Preventing and mitigating the constant threat posed by criminal activities is of particular importance. In this context, financial institutions and non-financial professions are required to comply with applicable legal and regulatory requirements. The article deals with the extent of corruption prevalence and reasons for prosperity in Albania, as a Western Balkans country, which has been little studied in the scientific literature. Albania is characterized by very high levels of perceived corruption, which manifests itself at all levels of government. Both petty and grand forms of corruption are prevalent in the country, while political corruption affects the quality of the democratic processes. The health sector, customs and tax officials are often referred to as the most corrupt institutions, followed by the police and the judiciary. Other problem faced by Albania is the illegal trade of tobacco considered as one of the major issues for Albanian law enforcement; it poses a multitude of challenges and issues beyond the ones discussed for legal tobacco consumption. The method of a representative quantitative survey was chosen for the empirical research, interviewing 1000 respondents from the age of 18 and more. The main findings and results of the research have been found: the scales of cigarette smuggling as well as the links between cigarette smuggling and corruption, money laundering and organized crime have not been evaluated, but macroeconomical analysis has shown that these phenomena are closely linked and feed each other. In Albania the public are beginning to realize that namely they tolerate the illegal phenomenon and, as a result, suffer from poorer economic well-being of their families.

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Section: Introductionmentioning

confidence: 79%

Phehomenon of corruption in Albania: towards cigarrete smugling

Raistenskis¹,

Kriviņš²,

Aļeksejeva³

2023

ACCESS

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“…One such crime is money laundering, a significant problem globally, with criminals using various techniques to conceal the origins of their illicit proceeds (Olujobi & Yebisi, 2023;Remeikienė et al, 2022). Money laundering is indeed a significant problem globally.…”

Section: Resultsmentioning

confidence: 99%

The Place and The Role of Financial Monitoring in Anti-Money Laundering System

Utkina

Bondarenko

Reznik

2023

Eduvest

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Financial monitoring plays a pivotal role in the overall effectiveness of an anti-money laundering (AML) system. This article explores the place and role of financial monitoring in preventing and detecting money laundering activities. The authors highlighted the significance of effective financial monitoring in meeting regulatory compliance requirements. The definition of the role and place of financial monitoring in the fight against the legalisation of corruption proceeds are updated, considering the tasks and requirements set before Ukraine as a candidate country for the European Union and the challenges caused by the state of war. The article aims to analyse and provide an understanding of the importance of financial monitoring in the broader context of combating money laundering. The authors used different methods and approaches depending on the nature of the research, such as literature review, legal and doctrinal analysis, and comparative analysisб dialectical method, method of analysis and synthesis and method of terminological analysis. The findings of this research underscore the criticality of financial monitoring in safeguarding the integrity of the financial system and protecting economies from the harmful effects of money laundering. By understanding the place and role of financial monitoring within the broader AML framework, financial institutions, policymakers, and regulators can enhance their efforts to combat money laundering and ensure a safer and more secure economic environment.

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Motives Underlying the Consumption of Black Market Cigarettes among Young People

Morkūnas

Sirgėdaitė

2023

Forum for Social Economics

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Is Money Laundering the Main Funding Source for Cigarette Smuggling in (Non) European Countries?

Cited by 3 publications

References 18 publications

Phehomenon of corruption in Albania: towards cigarrete smugling

Phehomenon of corruption in Albania: towards cigarrete smugling

The Place and The Role of Financial Monitoring in Anti-Money Laundering System

Motives Underlying the Consumption of Black Market Cigarettes among Young People

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