The Positive and Negative Role for Banks in Money Laundering Operations

Naim Salameh Al-Qadi, Aiman Abu Al Haj, M. Mousa Matar, Mashhour Hathloul

Abstract


Talking about Money laundering operations increased worldwide due to the increase of organized criminal group’s activities in various fields. Therefore, such phenomenon has occupied a significant position in the global policy agenda, in addition to other issues such as international terrorism. It is worthwhile to be mentioned that money laundering operations form a heavy burden on different countries in the world, which in their turn are looking for the best means to fight and limit them. It is well known that banks are one of the most important pillars of money laundering and its fighting at the same time, since most of money laundering is made through banks, which makes them perfectly suitable means to do such operations. Therefore, Central Banks in most world countries set several control procedures to increase control on commercial banks in order to reduce the spread of such phenomena.

Key words: Banks; Money laundering


Keywords


Banks, Money laundering

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DOI: http://dx.doi.org/10.3968%2Fj.css.1923669720120805.1742

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