The New Hungarian Legislation on Money Laundering and the Current Challenges of Cryptocurrencies-Reference-Cited by-同舟云学术

The New Hungarian Legislation on Money Laundering and the Current Challenges of Cryptocurrencies

Published:2022-12-01 Issue:4 Volume:13 Page:256-268
ISSN:1804-8285
Container-title:DANUBE
language:en
Short-container-title:

Author:

Ambrus István¹,Mezei Kitti²

Affiliation:

1. Eötvös Loránd University , Egyetem square 1–3, 1053 Budapest , Hungary , and Centre for Social Sciences, Institute for Legal Studies , Tóth Kálmán street 4., 1097 Budapest , Hungary .

2. Centre for Social Sciences, Institute for Legal Studies, Tóth Kálmán street 4 ., 1097 Budapest , Hungary , and Budapest University of Technology and Economics , Magyar tudósok körútja 2., 1117 Budapest , Hungary .

Abstract

Abstract Money laundering is one of the most important criminal offences today, perceived in the context of economic operation. Nevertheless, money laundering is a constantly changing phenomenon that is also influenced by the latest technological advancements. In this study, our aim is, after briefly outlining the phenomenon of money laundering, to review the new statutory definition(s) and those assessment criteria that may also be of significance for legal practice in this context from 2021 onwards in Hungary. Subsequently, we will describe the current challenges of cryptocurrencies regarding the new Hungarian and EU legislation on money laundering. The method we use is criminal law-dogmatic and retrospective analysis. The analysis concluded that the Hungarian legislator has significantly broadened the scope of money laundering, and a much wider spread of this offence is predicted for the future.

Publisher

Walter de Gruyter GmbH

Subject

Law,General Economics, Econometrics and Finance

Link

https://www.sciendo.com/pdf/10.2478/danb-2022-0016

Reference9 articles.

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3. De Sanctis, F. M. (2019). Technology-Enhanced Methods of Money Laundering: Internet as Criminal Means. Springer.

4. Financial Action Task Force (FATF) (2021). Updated Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.

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