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Radek Jurčík



Authors and WSEAS

Radek Jurčík


WSEAS Transactions on Business and Economics


Print ISSN: 1109-9526
E-ISSN: 2224-2899

Volume 15, 2018

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of WSEAS Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

Volume 15, 2018


Selected Economic and Legal Aspects of the Fight against Money Laundering – Impact on Enterprises and Public Administration

AUTHORS: Radek Jurčík

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ABSTRACT: This paper evaluates the benefits and the costs of anti-money laundering in the Czech Republic from 2010 to 2016 and it analyses the effectiveness of the AML measures. The third Directive of the European Parliament and of the Council 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing set strict measures against money laundering and a wide range of obligations for reporting entities. These measures were criticized mainly by the financial institutions for their high costs and missing empirical evidence about their effectiveness. The thesis analyses the costs and the benefits of the anti-money laundering in the Czech Republic and it also analyses the impact of the implementation of the strict measures pursuant to the directive according to the selected indicators. By combining theoretical findings with a data analysis I reached a conclusion that the fight against money laundering had become more effective after the implementation of the strict measures.

KEYWORDS: money laundering, fight against money laundering (anti-money laundering), cost-benefit analysis, European directive, financial institutions

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WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 15, 2018, Art. #44, pp. 445-451


Copyright Β© 2018 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution License 4.0