The
countries of Eastern Europe - Yugoslavia (Montenegro and Serbia),
Macedonia, Ukraine, Moldova, Belarus, Albania, to mention a few -
are natural targets. In some cases, organized crime is so all-
pervasive and local politicians so corrupt that the distinction
between criminal and politician is spurious.
Gradually, money laundering rings move their operations to these
new, accommodating territories. The laundered funds are used to
purchase assets in intentionally botched privatizations, real
estate, existing businesses, and to finance trading operations. The
wasteland that is Eastern Europe craves private capital and no
questions are asked by investor and recipient alike.
The next frontier is cyberspace. Internet banking, Internet
gambling, day trading, foreign exchange cyber transactions, e-cash,
e-commerce, fictitious invoicing of the launderer's genuine credit
cards - hold the promise of the future. Impossible to track and
monitor, ex-territorial, totally digital, amenable to identity theft
and fake identities - this is the ideal vehicle for money
launderers.
This nascent platform is way too small to accommodate the enormous
amounts of cash laundered daily - but in ten years time, it may. The
problems is likely to be exacerbated by the introduction of smart
cards, electronic purses, and payment-enabled mobile phones.
Pages:
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49