How Money Laundering Is Carried Out

source: gombiland
21

Let’s say you are a criminal with millions or even billions of dollars, then you must know how money laundering is carried out. If you don’t, then you have one big problem. Transferring large sums of money or carrying suitcases of cash will raise eyebrows. You need to “launder” the money to make the dirty money appear to be clean. By doing so, it can be spent anywhere in the world (say on real estate, luxury yatch, strip clubs) with no questions asked. Fear not, with a little financial detergent, your dirty money can become more or less untraceable. China leads the world in this ancient art. Between 2002 and 2011, $1.08 trillion departed the country illegally despite currency control laws. The laws require people to obtain a permit to exchange more than $50,000 a year worth of yuan into any currency. This is international past time. Corrupt politicians, drug cartels, alimony deadbeats, nearly everyone is doing it. When it comes to money laundering, there are three main steps of how money laundering is carried out.

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