World Summit on Management Sciences
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Accepted Abstracts

Is money laundering the main funding source for smuggling?

Ligita Gaspareniene*, Rita Remeikiene
Mykolas Romeris University, Lithuania

Citation: Gaspareniene L, Remeikiene R (2020) Is money laundering the main funding source for smuggling? SciTech Management Sciences 2020. Thailand 

Received: November 30, 2019         Accepted: December 03, 2019         Published: December 03, 2019

Abstract

Money laundering is the process of hiding or disguising the unlawful origin of property and hiding or disguising the true nature, origin, source, location, disposal, ownership or title of property. In other words, money laundering means "laundering" dirty money until it becomes clean. Corrupt officials and other criminals use money laundering techniques to hide the true nature of their income. Research shows that cigarette smuggling is linked to money laundering. The purpose of the article is to determine how money laundering is related to cigarette smuggling and which public authorities have a key role in combating these phenomena in Albania, Armenia, Georgia, Moldova, Ukraine and Serbia. Methods used in the study: literature analysis and Focus group methodology. An effective factor in the fight against smuggling is to increase the population's intolerance to illicit goods and services, therefore, it will seek to extend the empirical study to the population's perspective on money laundering and cigarette smuggling.
Keywords: Money laundering, cigarette smuggling