The role of the police in anti-money laundering

In: Dujovski, Nikola and Mojsoska, Snezana (2019) The role of the police in anti-money laundering. Journal of Money Laundering Control, 22 (1). pp. 145-157. ISSN 1368-5201

Open Access

Abstract

Purpose This paper aims to describe and discuss the role of the police in anti-money laundering, with particular reference to the situation in the Republic of Macedonia. Design/methodology/approach A doctrinal approach is used to describe the role of the police in anti-money laundering policy, as well as to discuss whether the police is the central and main body in the fight against this crime. Deductive and inductive methods are used to analyze the collected data about Macedonian activities, provided by domestic and international organizations and institutions. Government agencies, institutions and bodies with different capacities for identifying and combating money laundering are included. Findings According to global statistics, about $2tn is laundered annually. Money laundering directly affects general economic and social life and the entire development, which shows why the concerns about this phenomenon have been growing worldwide. The most important issue in combating money laundering refers to preventing and detecting the problem. The police have the central role in combating money laundering in the Republic of Macedonia, but they must co-operate with public prosecutors and other agencies to fight this crime with more success. Even though Macedonian legislation is harmonized with European Union (EU) directives, there are a lot of activities in the field of money laundering to be done to fulfill EU standards. Relevant collected data were acquired from MONEYVAL reports, annual reports from the Ministry of Interior, Public Bureau of Statistics and statistics from the public prosecutor's office, including all published documents. Originality/value The paper answers questions related to the role and effectiveness of the police by examining different authorizations and powers. Different approaches in implementing the law are specified and suggestions to overcome "two voices" are given. A comparative approach is also used to demonstrate the number of criminal charges per year, mainly collected by the public prosecutor's office. The authors analyze whether additional training is needed for the police. All institutions should collaborate with the police because money laundering offences may be disclosed during investigations of other offences.