Date:  Thursday, November 9, 2000
Time:  6:00 p.m.
Venue:  14/F, Senior Common Room, K.K. Leung Bldg., The University of Hong Kong

Abstract: Recent innovations in communications science and information technology have spawned a number of exponential changes in the global system, thus, creating a quantum of unquantifiable opportunities as well as risks. The phenomenon of money laundering is part of the opportunity (for the criminals) and risk for society. Deregulation and Liberalization of the contemporary world economy have necessitated the process of Globalization. Therefore, the phenomenon of money laundering follows the process of globalization and is an aspect of transnational organized white collar crime.

There is a dearth of criminological data on the phenomenon of money laundering, perhaps because this is a new problem in criminology. This paper is therefore aimed at the following:

(a)  to define what money laundering is; examine and analyze, albeit briefly, the history, stages and possible intermediaries of money laundering;
(b)  to examine the crucial dimensions and deleterious costs of money laundering, and particularly how the current process of globalization can affect the money laundering trend in transitional, emerging and developing economies;
(c)  to examine the international initiatives against money laundering;
(d)  to critically analyze the potential prospects for a efficient and effective international effort against money laundering.