OK - back to reality (or at least, talking about money laundering)
We've discussed the first step in the laundering process, namely, getting the money into the world's banking system. We've seen that there are many ways to do this, some of them downright strange (such as the IRS "refund"), but there are no shortages of creative ways to introduce the monies into the world's financial system.
The next step is the "layering" process. The money may be placed into the banking system, but it is still in one place and, as such, can be easily identified. The money must be layered around so that it is not so easy to identify.
Sometimes, the money is moved around in the same financial institution (i.e. different bank accounts and products). Sometimes, it is moved from one financial institution to another. Sometimes, currency trading occurs or the money is converted into traveler's checks or another type of financial product. As with the first step, there are no limits to the imagination.
We will continue with this tommorrow.
As always, have a great and fraud free day.
http://www.tauskvega.com
------------>>>>>>>>>>>>>>gene tausk
We've discussed the first step in the laundering process, namely, getting the money into the world's banking system. We've seen that there are many ways to do this, some of them downright strange (such as the IRS "refund"), but there are no shortages of creative ways to introduce the monies into the world's financial system.
The next step is the "layering" process. The money may be placed into the banking system, but it is still in one place and, as such, can be easily identified. The money must be layered around so that it is not so easy to identify.
Sometimes, the money is moved around in the same financial institution (i.e. different bank accounts and products). Sometimes, it is moved from one financial institution to another. Sometimes, currency trading occurs or the money is converted into traveler's checks or another type of financial product. As with the first step, there are no limits to the imagination.
We will continue with this tommorrow.
As always, have a great and fraud free day.
http://www.tauskvega.com
------------>>>>>>>>>>>>>>gene tausk
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