Let's conclude this portion of the discussion on how funds are laundered.
Another method to launder funds that has been used is, incredibly enough, overpayments to the IRS. The launderer will send a massive check to the IRS and then have the overpayment returned to him. There is no question from the government, just an overpayment which sometimes happens, and the monies are returned. Stange, but true.
Another example are money changing shops, where currency is converted from the currency of one nation to that of another. Or, as popular here in Texas and other Southern states, stores that offer money orders to Mexico and other nations. It is fairly easy to launder money through these types of stores (it goes without saying, of course, that there are many honest and law-abiding money changing and money transfer stores and they should not all be "lumped" together).
Finally, another method is to take the money OUTSIDE the U.S. (or whatever country) and wire it back, in small amounts, to the U.S.
It should be fairly clear then, at this point, that money laundering methods are ingeniously simple. They do not have to be incredibly complicated "James Bond" patterns.
We will explore the other stages of money laundering tommorrow.
As always, have a great and fraud-free day.
http://www.tauskvega.com
----------->>>>>>>>>>>>>gene tausk
Another method to launder funds that has been used is, incredibly enough, overpayments to the IRS. The launderer will send a massive check to the IRS and then have the overpayment returned to him. There is no question from the government, just an overpayment which sometimes happens, and the monies are returned. Stange, but true.
Another example are money changing shops, where currency is converted from the currency of one nation to that of another. Or, as popular here in Texas and other Southern states, stores that offer money orders to Mexico and other nations. It is fairly easy to launder money through these types of stores (it goes without saying, of course, that there are many honest and law-abiding money changing and money transfer stores and they should not all be "lumped" together).
Finally, another method is to take the money OUTSIDE the U.S. (or whatever country) and wire it back, in small amounts, to the U.S.
It should be fairly clear then, at this point, that money laundering methods are ingeniously simple. They do not have to be incredibly complicated "James Bond" patterns.
We will explore the other stages of money laundering tommorrow.
As always, have a great and fraud-free day.
http://www.tauskvega.com
----------->>>>>>>>>>>>>gene tausk
I am going to laugh akll day at work about the overpayment to the IRS...and you know why !
ReplyDeleteHave a great day.
Jane