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A Response to Public Ignorance on Money Laundering

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Money laundering is a growing problem which affects most countries in the world. It is a financial crime that often involves a complex series of transactions. However, this type of financial crime is not known to many people. This paper investigates the level of understanding about money laundering among the public. A better understanding on these destructive activities can prevent them from being involved. In addition, it can assist them in identifying the illegal activities and be investigation agencies watchdogs to inhibit the unlawful activities. The public should be informed on the impacts of money laundering activities so that further actions can be taken to combat this problem. A survey questionnaire and interview were conducted with two focus groups comprising officers from several government departments to elicit data on money laundering. Most participants did not understand what money laundering is all about and not even aware of the existence of an act that governs money laundering activities. The qualitative evidence collected indicates that money laundering activities bring about undesirable huge financial and ethical impacts to the country.
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Keywords: Government Departments; Money Laundering; Watchdogs

Document Type: Research Article

Affiliations: Universiti Teknologi MARA (UiTM) Melaka Branch, Alor Gajah Campus KM 26, Jalan Lendu 78000 Alor Gajah Melaka, Malaysia

Publication date: July 1, 2018

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  • ADVANCED SCIENCE LETTERS is an international peer-reviewed journal with a very wide-ranging coverage, consolidates research activities in all areas of (1) Physical Sciences, (2) Biological Sciences, (3) Mathematical Sciences, (4) Engineering, (5) Computer and Information Sciences, and (6) Geosciences to publish original short communications, full research papers and timely brief (mini) reviews with authors photo and biography encompassing the basic and applied research and current developments in educational aspects of these scientific areas.
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