The Expansion of Evil

The growing influence of money laundering is a grave threat to global security and the safety of individuals. In this article, I aim to explore this alarming trend and its far-reaching consequences.

When I first began reading Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations, along with Cabinet Decision No. 10 of 2019 regarding its implementation, I expected to struggle. My initial concern stemmed from my unfamiliarity with the law’s provisions, penalties, and the obligations it imposes on companies, financial institutions, and designated non-financial businesses and professionals, including lawyers, legal auditors, business set-up agencies, and other categories.

However, I was pleasantly surprised to find myself increasingly captivated by the law’s content. What started as a planned four-hour study session soon evolved into a daily passion, driving me to explore every aspect of this law, related legislation in other countries like the United States and the United Kingdom, and articles published by other researchers.

In summary, I have concluded that AML (Anti-Money Laundering) legislation has not received the attention it truly deserves. These laws are crucial due to their objectives and the innovative measures they introduce to curb criminal activities and prevent wealth from falling into the hands of gangs and criminals. To put this issue into perspective, we are talking about $5 trillion in laundered money, a figure that has doubled from the previous year, when the amount was $2.5 trillion.

This article is the first part of an ongoing series exploring the global impact of money laundering. Stay tuned for the next installment, where we dive deeper into international case studies and innovative measures to combat this expanding threat.