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Financial Crime Prevention Strategies in Romania: A Community Pulse Survey
Romania has been grappling with financial crime and corruption for years, with tax evasion, money laundering, and bribery being some of the most prevalent forms of financial malfeasance. In an effort to combat these issues, researchers at Babeș-Bolyai University and Fayetteville State University have conducted a comprehensive study on the behavioral patterns of Romanian society in relation to financial crime.
Methodology
The study is based on a community pulse survey that examined various demographic aspects, including age, gender, region, professional status, education, and more. The results of the survey provide valuable insights into how different segments of Romanian society perceive and interact with financial crime.
Findings
According to the study’s findings:
- Romanians are generally more likely to engage in illegal activities when they believe they can avoid detection or punishment.
- Individuals who have a higher level of education and income are more likely to report tax evasion and other forms of financial crime.
- Corruption in public institutions is widespread in Romania, with many respondents reporting that they had paid bribes or experienced corruption firsthand.
Recommendations
In light of these findings, the study provides a range of recommendations for policymakers aimed at reducing financial crime in Romania:
- Increase transparency and accountability in public institutions
- Improve tax compliance through education and incentives
- Strengthen enforcement mechanisms to deter illegal activities
Key Takeaways
• Romanians are more likely to engage in illegal activities when they believe they can avoid detection or punishment. • Individuals with higher levels of education and income are more likely to report tax evasion and other forms of financial crime. • Corruption in public institutions is widespread in Romania, highlighting the need for stronger governance and anti-corruption measures.
About the Study
The study was published by Springer Cham and is based on a community pulse survey conducted among Romanian citizens. The research team consisted of experts from Babeș-Bolyai University and Fayetteville State University.
Authors
- Monica Violeta Achim, Full Professor and Doctoral Supervisor of Finance at Babeș-Bolyai University
- Robert W. McGee, Professor at Broadwell College of Business and Economics, Fayetteville State University