Money laundering. (c2002)

Abstract

Money laundering is an important and controversial issue that is currently being combated by the international community. World organizations have of recent expressed concerns about Lebanon's relation with money laundering. Lebanese officials and politicians have underestimated and even denied the problem of money laundering in the country. In my thesis I will reveal the extent to which Lebanon is affected by money laundering activities. I will begin my thesis by defining the concept of money laundering and describing the process employed to launder money and assets. The importance of money laundering to organized crime is considered, as well as the global scale of money laundering and its relationship with globalization. I will also reveal how money laundering works through the financial system and describe its effect on the economy and society. Finally, the reasons why money laundering should be combated nationally and internationally will be put forth when discussing the case of the Republic of Lebanon. There are two reasons why I chose to research this topic. First, in order to fight money laundering, the public and the governmental authorities should have the proper knowledge of the crime they are trying to tackle. Second, money laundering affects most financial institutions through the banking sectors and the world financial market, the two systems used to process illegal monies. I have chosen Lebanon as a case study for several reasons. First, Lebanon is an interesting model in that it has many contradictions in its legal, legislative, and financial system. Second, since classified as a non-cooperative country in combating money laundering, Lebanon would be worthy to look at, as it is trying to change this status. Third, it would be interesting to observe the formation and implementation of counter money laundering measures by the Lebanese government and the ensuing consequences.