Local time: Tuesday, 17 September 2019 17:35:30hrs
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Directorate on Corruption and Economic Crime (DCEC)
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What is the connection with the society at large?
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The possible social and political cots of money laundering, if left unchecked or dealt with ineffectively, are serious. Organized crime can infiltrate financial institutions, acquire control of large sectors of then economy through investment, or offer bribes to public officials and indeed governments.


 The economic and political influences of criminal organizations can weaken the social fabric, collective ethical standards, and ultimately the democratic institutions of society .For countries in transition to democratic systems, this criminal influence can undermine the transition. Most fundamentally, money laundering is inextricably linked to the underlying criminal activity that generated it. Laundering enables criminal activity to continue.


 

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