Prevention of money laundering and terrorist financing
Anti money laundering and terrorist financing is an important task of any jurisdiction. It comprises all measures and activities that may be undertaken to prevent the money obtained in an unlawful manner from being used in any way, or, regardless of the source, funds being used for the purposes of any form of terrorism. Money laundering and terrorist financing is detrimental for the economy and society as a whole. Money laundering may result from various criminal activities, and as a consequence, it may represent unfair competition for the economy, while terrorist financing is the main source of funding for the unacceptable and forceful achievement of certain goals and interests to the detriment of others. The anti money laundering system in a jurisdiction should be comprehensive, standardised, efficient and connected with the participants in such a system in other countries and globally because money laundering and terrorist financing is precisely that - generally and globally harmful.