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In the 1970s negative demographic and economic trends became a burden for fiscal systems of the “Golden age” welfare states. The neoliberal theory responded by cutting social rights, diminishing the scope of services provided by the state and strengthening the market. Values of uniformity and solidarity were replaced with efficiency and profit. Consequently, the sustainability of “pay-as-you-go” pension systems came into question. The measures towards capitalization and privatization differed. This arises both fro...

The strict preventive measures in the financial sector force money launderers to seek alternative channels for money laundering operations. Unique characteristics of the football sector and sport in general represent alternative means of money laundering than in the sectors traditionally exploited by money launderers. Likewise actions were noticed by some football and European authorities as a starting point of raising awareness of the money laundering risks and establishing implementation of the anti-money launde...

The term VAT grouping is a current term in EU tax systems and serves as an instrument of simplification of tax administration and a means of combating tax fraud. The complexity of EU market and the existence of various legal solutions in the framework of national legislation impose additional costs onto entrepreneurs, making the European Union a less attractive investment destination. In the framework of the studied topic, the establishment of the single market calls for the harmonisation of national legislation o...

This article highlights certain issues related to the multiple meaning of the term suspicious transaction and its complex nature. Following the basic international definitions of suspicious transactions, national legislations try to adjust them to domestic conditions. The results of selected legislative frameworks are presented through the statistical analysis of three Western European countries and the Republic of Croatia. The statistical analysis of the reversal which happened in suspicious transactions reportin...

The Directive 2005/60/EC and the FATF Recommendations prescribe and drive performance and assignment of specific tasks and duties for the non-financial sector professionals in the anti-money laundering system. The scope of their activities is limited to financial transactions, bounded by professional confidentiality; where the obligation to report suspicious activity is legislatively restricted to their core business. The low number of reported suspicious transactions by the non-financial sector professionals, as ...