International Measures to Fight Money Laundering

Abstract

The phrase ‘pecunia non olet’ (money does not smell) is attributed to the Emperor Vespasian as regards a new tax for the use of public toilets which had been imposed in Rome. However, this expression may currently be substituted for the new one ‘pecunia nunc olet’ (money smells now). Indeed, it seems that there is an international agreement to eliminate ‘dirty money’; that is to say, the money‐laundering phenomenon.

Citation

Garcia, J. (1999), "International Measures to Fight Money Laundering", Journal of Money Laundering Control, Vol. 3 No. 1, pp. 39-43. https://doi.org/10.1108/eb027209