Title: The future of e-money laundering in the Republic of Macedonia

Authors: Snezana Mojsoska

Addresses: Faculty of Security, Department for Social-political and Legal Sciences, Skopje-University 'St. Kliment Ohridski'-Bitola, st. Idrizovo B.B., Republic of Macedonia

Abstract: This paper analyses the statistics and reports dealing with various aspects that link e-money and money laundering, in order to identify the major challenges and possible solutions to the problem of electronic money laundering. Though referred to as electronic money laundering, this does not differ from the classical money laundering. The research in this paper proves that e-money laundering in Macedonia is a matter of a future analysis because at the moment electronic payments are little used, and the internet is poorly used specifically for payments, etc. Macedonia has no regulations that control or prevent e-money laundering. This paper will provide recommendations to improve the prevention of e-money laundering in Macedonia, such as the establishment of appropriate bodies and procedures to operate and control the international e-payment systems, of regulatory authorities to monitor the activities of these systems through the implementation of a framework for user registration and identification, etc.

Keywords: electronic money; e-money laundering; money laundering; positive aspects; negative aspects; regulation; user registration; user identification; Republic of Macedonia; international e-payment systems; electronic payment; online payment.

DOI: 10.1504/IJPLAP.2015.067779

International Journal of Public Law and Policy, 2015 Vol.5 No.1, pp.61 - 76

Received: 08 May 2021
Accepted: 12 May 2021

Published online: 26 Feb 2015 *

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