In previous blogs I discussed “What is money laundering (http://shaileshdash.com/2016/01/12/what-is-money-laundering/)”, “How Money Laundering Works (http://shaileshdash.com/2016/01/24/how-money-laundering-works/)”, and “Why and how to money laundering is illegal and immoral (http://shaileshdash.com/2016/03/02/why-and-how-money-laundering-is-illegal-and-immoral/).”
Today, I would like to consider how money laundering affects the economy.
Money laundering threatens the stability of a sound economy and definitely comes at an ethical cost. It is becoming increasingly critical for companies and individuals to ponder on whether businesses should thrive on bending rules, greasing palms and broadening ethical boundaries.
The answer of course is NO.
When the sheer magnitude of opportunities is bringing multinational companies racing to the sub-continent for the slice of a pie in burgeoning economies, it becomes of primary importance for all of us to deal with companies and individuals with highest ethical standards.
It is also essential to protect brand identity from vices like these in order to sustain and grow a positive image for themselves. Indicative of the ubiquity of the problem, the fiscal loss that any nation faces due to money laundering is staggering.
These factors also develop a shaky investor confidence that in turn affects foreign investments directly. It is only wise to innovate boldly and only with time will we be able to observe this dilemma’s resolution.