Mechanisms of money laundering obtained from cybercrime: the legal aspect

Abstract

Purpose

The use of computer technology to commit cyber laundering increases their social danger, creates new ways to commit cyber laundering, causes the masking of traces of cyber laundering and expands the geography of cyber laundering, while eliminating traditional state borders. That is why, the researched problems have a high level of relevance. The purpose of this research is to promote the spread of international standards in the field of combating money laundering, as well as an analysis of the mechanisms of money laundering obtained from cybercrime.

Design/methodology/approach

The leading methods that were used in the article for the purpose of conducting research were a number of general scientific methods, such as analysis and synthesis, deduction, induction, forecasting, modeling, analogy and a number of special methods of study and cognition, which include comparative legal, historical legal, formal legal and structural functional methods.

Findings

The main results prospects for further research and the applied value of the material. Large-scale cyber laundering of illegal income has long become a global problem that requires a solution from all states of the world, which means that these problems can only be overcome through active interstate cooperation.

Originality/value

The article analyzes inter alia the international legislation in the field of money laundering mechanisms obtained from cybercrime and examines the activities of international organizations in this area.

Citation

Nizovtsev, Y.Y., Parfylo, O.A., Barabash, O.O., Kyrenko, S.G. and Smetanina, N.V. (2022), "Mechanisms of money laundering obtained from cybercrime: the legal aspect", Journal of Money Laundering Control, Vol. 25 No. 2, pp. 297-305. https://doi.org/10.1108/JMLC-02-2021-0015