Research On The Crime Of Money Laundering

With the substantial achievement of our opening-up policy and robust economy climate, there is a tendency that a growingnumber of illegal and criminal activities are emerging; correspondingly, illegal gains are increasing. With an aim to conceal the proceeds of crime, Money Laundry is taken as a new criminal activity and it is becoming more serious. Money Laundry poses great threat on the financial order of our country. It is hugely detrimental to the society for its link to the smuggling, drug abusing and gangland crimes.Money laundering refers to financial transaction schemes that attempt to conceal the source, identity and destination of illegal-obtained money. Money laundering takes several different forms, although most methods can be categorized into one of a few types. These include bank methods, smurfing, currency exchanges, double-invoicing and others. So it is difficult for the public security unit and judicial authorities concerned to deal with this new form of crime.Until now, international bodies and state governments continue to undertake efforts in deterring preventing and apprehending perpetrators of this crime and a response to combat money laundering is formed, meanwhile, specialized conventions and treaties are legislated. In an attempt to prevent dirty money from entering financial system in the first place, China also passes a series of laws and regulations to combat the crime of money laundering. However, there are still some legal defaults to be improved.This paper consists of four parts.First, the definition of money laundering and some relative concepts are elaborated. And the cause of this new form of crime and its classification are clarified in this part.Secondly, the laws and regulations both in China and other countries are reviewed, and the constitutes of money laundering is analyzed.Thirdly, money laundering is distinguished from the crime of hiding and concealing the proceeding of crime and drug crime. And an analysis of their similaritiesand differences is given.At last, by doing a research on some perplexed question about the money laundering, the defects of the laws and regulations in China are detected. And advices to consummate legislation are put forward.