scholarly journals The Impact of the Development of Society on Economic and Financial Crime. Case Study for European Union Member States

Risks ◽  
2021 ◽  
Vol 9 (5) ◽  
pp. 97
Author(s):  
Monica Violeta Achim ◽  
Viorela Ligia Văidean ◽  
Sorin Nicolae Borlea ◽  
Decebal Remus Florescu
Keyword(s):  
European Union ◽  
Sustainable Development ◽  
Union Member ◽  
General Level ◽  
Financial Crime ◽  
Time Period ◽  
Financial Crimes ◽  
The Impact ◽  
European Union Member States

Economic and financial crime is closely related to the changes and the development of societies. In this paper, we question whether the types of economic and financial crimes change as the society develops or not. For our purpose, we use the sample of 27 European Union member countries, for the 2005–2020 time period, which forms an unbalanced panel dataset. The main econometric method is represented by the Pooled OLS method for panel data. Our findings highlight that higher economic and sustainable development determines a reduction in the levels of corruption, shadow economy, and cybercrime. Additionally, we find that increased economic and sustainable development is related to higher levels of money laundering. These findings help governments to understand the way in which various types of economic and financial crimes unfold within different contexts of economic development, in order to implement specific policies for reducing the general level of crimes.

Competitiveness and Economic Growth in the European Union

2018 ◽  
Vol 8 (8) ◽  
pp. 2408
Author(s):  
Natália ZAGORŠEKOVÁ ◽  
Michaela ČIEFOVÁ ◽  
Andrea ČAMBALÍKOVÁ
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Union Member ◽  
National Level ◽  
The European Union ◽  
Member States ◽  
Global Competitiveness ◽  
Global Competitiveness Index ◽  
The Impact ◽  
European Union Member States

The paper focuses on competitiveness at the national level and on the impact of competitiveness on economic growth. We look at the relationship between competitiveness and economic growth based on the data from the European Union member states. The competitiveness of the economies is measured by the Global Competitiveness Index, which is published by the World Economic Forum. The European Union member states show significant differences in competitiveness. In the sample examined, the positive relationship between the level of competitiveness and economic growth was not confirmed.

scholarly journals Raising compulsory automobile insurance minimum amounts: a case study from the United States

2019 ◽  
Vol 4 (2019/4) ◽  
Keyword(s):  
United States ◽  
European Union ◽  
Union Member ◽  
The United States ◽  
Automobile Insurance ◽  
The European Union ◽  
Automobile Accidents ◽  
Member States ◽  
European Union Member States

This article discusses a decision both European Union Member States and states in the United States must make: whether to raise their compulsory automobile insurance minimum amounts. The authors review a case study from the United States, the Commonwealth of Pennsylvania, and conclude a proposed increase in the compulsory minimum amounts should pass the legislator. The purpose of compulsory automobile insurance is to compensate victims of automobile accidents. Due to inflation, the minimum amounts in Pennsylvania no longer compensate adequately. Moreover, the data do not support the contention that an increase in the minimum amounts will cause large increases in premiums and uninsured rates. The authors conclude that compulsory minimum amounts should be periodically reviewed, as they are in the European Union, and that arguments about large increases in premiums and uninsured rates should be subjected to a careful review based on data.

scholarly journals Efficiency of Money Laundering Countermeasures: Case Studies from European Union Member States

Risks ◽  
2021 ◽  
Vol 9 (6) ◽  
pp. 120
Author(s):  
Corina-Narcisa (Bodescu) Cotoc ◽  
Maria Nițu ◽  
Mircea Constantin Șcheau ◽  
Adeline-Cristina Cozma
Keyword(s):  
European Union ◽  
Law Enforcement ◽  
Case Studies ◽  
Money Laundering ◽  
Information Exchange ◽  
Union Member ◽  
Quality Level ◽  
Member States ◽  
The Impact ◽  
European Union Member States

The aim of this study is to present the trends and effectiveness of money laundering countermeasures from the perspective of a number of suspicious transactions reported to the Financial Intelligence Units (FIUs), a number of analysis results submitted to law enforcement authorities, and the typologies of cases in European Union Member States. In order to determine the impact of the joint effort in the fight against money laundering, we used descriptive statistics to process the data and case studies from annual reports of the European FIUs for 2018 and 2019. The results of our study highlight the increase in the number of suspicious transactions notices, as well as in their quality level. There is an increasing tendency towards information exchange between European Union countries regarding the suspicion of money laundering, but there is no stable trend for referring cases to law enforcement and other responsible institutions. Based on the available data, it can be concluded that the EU anti money laundering measures are efficient, but further steps are needed to achieve higher international coordination and cooperation.

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