Let's discuss the three stages of money laundering. After all, money laundering is a multi-step operation like most financial operations or deals, so money laundering, although illegal, should be no different.
The first thing to have, of course, is money that needs to be laundered. So, if our average run-of-the-mill drug dealer has finished a transaction where he has $1 million as a result, he now has one million dollars that needs to be laundered away.
The first step is to get the money into the banking system. In other words, the money has to be placed from the criminal's location into the system so it can be "flushed" through the system. If the money never moves, then it never can be laundered.
Now, this does not necessarily mean opening up a bank account. In fact, it is very difficult to do this. You cannot just take $1 million and deposit it, site unseen, into a U.S. (or most foreign country's) banks without filling out forms and identifying yourself to the authorities. In fact, in the U.S., any transaction over $10,000 is automatically cited. So, the real question is - how can large sums of money be placed into the banking system so they can be laundered?
As we discussed earlier, one simple method is to invest the money into a business that has a high cash flow, like a restaurant. This is one easy method to get the money directly into the system.
It is not the only one, however, and we will discuss other methods tommorrow.
As always, have a great and fraud-free day.
http://www.tauskvega.com
------------>>>>>>>>>>>>>>>>gene tausk
The first thing to have, of course, is money that needs to be laundered. So, if our average run-of-the-mill drug dealer has finished a transaction where he has $1 million as a result, he now has one million dollars that needs to be laundered away.
The first step is to get the money into the banking system. In other words, the money has to be placed from the criminal's location into the system so it can be "flushed" through the system. If the money never moves, then it never can be laundered.
Now, this does not necessarily mean opening up a bank account. In fact, it is very difficult to do this. You cannot just take $1 million and deposit it, site unseen, into a U.S. (or most foreign country's) banks without filling out forms and identifying yourself to the authorities. In fact, in the U.S., any transaction over $10,000 is automatically cited. So, the real question is - how can large sums of money be placed into the banking system so they can be laundered?
As we discussed earlier, one simple method is to invest the money into a business that has a high cash flow, like a restaurant. This is one easy method to get the money directly into the system.
It is not the only one, however, and we will discuss other methods tommorrow.
As always, have a great and fraud-free day.
http://www.tauskvega.com
------------>>>>>>>>>>>>>>>>gene tausk
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