How Does Globalization Impact On Crime And Victimisation?

1764 words - 8 pages

As globalization continues to flourish and evolve, this creates further opportunities in which individuals are able to launder money with greater ease, efficiency in profit and sophistication. Through the forms of economic globalization, people may use new forms of travel to their advantage and personal gain. It is widely recognized (Pfaller, A & Lerch, M 2005, Auernheimer, L 2003) that this is becoming a significant challenge in the international sphere. Through globalization, criminals are able to create new means to commit crime for an economic benefit and avoid prosecution through new forms of travel. This allows them to spread transactions across multiple nations around the globe, thus increasing the number of obstacles that need to be overcome for an investigation to be completed (Karofi, U, Mwanza, J). For example, this can be explained through the new forms of money laundering. Money laundering is ‘the process by which one conceals the existence, illegal source, or illegal application of income, and disguises that income to make it appear legitimate’ (President’s Commission on Organised Crime 1984, p. 7). This can be achieved through the process of transporting diamonds or gold or even through wire transfers (Morris-Cotterill, N). The lack of risk that is involved in these contemporary crimes is increasing the appeal for crimes such money laundering to occur. This is due to the fact that criminals know that it will prove to be difficult to investigate and prosecute their activities when it occurs on a transnational basis. This, in turn, gives more individuals the opportunity to commit these crimes with little risk that they will be caught. Furthermore, this targets potential naïve victims into partaking in these forms of criminal activity as they see an opportunity for financial benefit with little risk attached. As globalization continues to expand and provide individuals with the availability to commit new crimes, it results in the financial markets becoming increasingly unstable, which goes hand-in-hand with the reduction in the rate of the world economy (Caprio, G 2013, Nayak, S 2008). Conversely, this does not only target and harm those individuals that are linked to the financial markets; it may also affect each society and nation that is involved. Furthermore, this results in an increase in victimisation as these economic crimes may erode and distort competition, credit institutions, markets, and exchange and interest rates, thus affecting the national economy as a whole’ (Karofi, U, Mwanza, J, p. 7). This broadens the span and depth of victimisation from including anyone that is directly linked to the occurrence of money laundering to the majority population of each nation. Regardless of an individual’s socioeconomic status, these forms of crimes that occur affect all individuals. This is due to the fact that, despite affluence, most individuals require to take a loan from a bank some time in their life. Therefore, these modern...

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