Integration a The proceeds are reintroduced into the economy as legitimately

Integration a the proceeds are reintroduced into the

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Integration a. The proceeds are reintroduced into the economy as legitimately earned money. Buying property, bars, restaurants Structuring Structure the way to deposit money (deposit $9999 in 3 different banks etc) Money Laundering Methods Bulk Movements Strategy To withdraw the money from countries with the CTR requirement to ones that do not have reporting requirements- by person, luggage, mail, truck, planes etc. US Patriot Act-created a new offense: smuggling money ($10,000+) out of the country is an offense Financial Institutions Still the safest and most efficient method. Making numerous deposits into an account then wiring the money to a different account Smurfing/Structuring-numerous deposits under $10,000 to avoid reporting threshold Papa Smurf
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Guy from Florida, has a network of people in/out of banks and making deposits Non Financial Institution Using front companies that conduct legitimate business (bar, restaurants, night clubs, pizza parlors) Shell companies-registered by performs no legitimate business, NPO’s, religious groups Underground Banking Systems Formalized and secretive system of using ordinary business fronts for money movement. These businesses on the surface are not in the business of moving money. Western Union. Drug Dealers.
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  • Fall '16
  • Steve Evens
  • Cheque, Tax haven, Tax avoidance and tax evasion

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