International Financial Crime and Documentary Credits

Kern Alexander

Research output: Contribution to journalReview articlepeer-review

Abstract

Since the collapse of communism in the former Soviet Union and in Eastern Europe, the rise of organised crime has been swift and substantial. It has taken control of many sectors of the economy in these countries and, because of its newly amassed wealth, it has attained significant political influence. Organised crime groups have used their political and economic influence to persuade certain provincial governments in the former Soviet Union to assist them in transferring their ill‐gotten proceeds to apparently legitimate investments in western countries. Some provincial governments, acting on behalf of certain organised crime groups, have exploited their ongoing relationships with leading international banks to obtain documentary credits to transfer billions of dollars of criminally derived money into investments in developed countries.
Original languageEnglish (US)
Pages (from-to)79-82
Number of pages4
JournalJournal of Financial Crime
Volume3
Issue number1
DOIs
StatePublished - Feb 1995
Externally publishedYes

ASJC Scopus subject areas

  • General Economics, Econometrics and Finance
  • Law

Fingerprint

Dive into the research topics of 'International Financial Crime and Documentary Credits'. Together they form a unique fingerprint.

Cite this