The fight against money laundering in Hungary

Abstract

Discusses the history and procedural system of anti‐money laundering regulation in Hungary, which was the first of the former Warsaw Pact countries to accept regulations which established a legal background to the fight against money laundering, and to classify it as a crime in its own right. Describes the Penal Code statutes and the Law on the Prevention and Interception of Money Laundering, and indicates the problems involved in accurately defining relevant offences, which now include that of neglecting to report cases of money laundering. Concludes that the continued spread of organised crime in Hungary is worrying, and that control of money laundering is in the country’s interests: Hungary is neither small nor large enough to tolerate it.

Citation

Tóth, M. and Lászlo Gál, I. (2004), "The fight against money laundering in Hungary", Journal of Money Laundering Control, Vol. 8 No. 2, pp. 186-192. https://doi.org/10.1108/13685200510621118