Money laundering: a brief definition of the process and their crimes

Money laundering: a brief definition of the process and their crimes

Money laundering: a brief definition of the process and their crimes

Washing or bleaching is derived the concealment or disguise of the true nature for the purpose of concealing or disguising the illicit origin of the property or large sums of money obtained illegally.

The meaning of money laundering (money laundering)

Money laundering is the process by which the transfer of funds or assets of illegal funds and legal assets outward. The money comes from drug trafficking, tax evasion and smuggling, theft and trade in arms and the corrupt practices and other illegal activities. Through these illegal money laundering, the role and power of the criminals is much stronger. The first phase of the process of money laundering where the introduction of illegal funds or assets to the financial system. The second phase is moving and hiding such funds and assets to hide assets. Can be hidden in the financial system through a network of complex operations. The third phase of the process are cleared funds and give it a legal appearance in the financial system, and make them available for investment or expenditure.

Criminals who obtain the funds needed to enter into the legal financial system without raising suspicions. Transfer funds to other forms yglaha more frequently. They also put distance between criminal activities and funds. “Money laundering” is the name given to the process by which give money gained illegally appearance being acquired legally.

The IMF said that the total size of money laundering in the world could be between 2 to 4 percent of world GNP, while the World Bank is estimated at approximately 1000 billion.

The crime of money laundering

There are many reasons that drive people to money laundering, and include:

-Hide riches: criminals can hide the riches that were gathered illegally to give birth, seized by the authorities.

-Avoid prosecution: criminals can avoid prosecution by alienating themselves from the illegal funds.

-Avoid taxes: criminals can avoid taxes that were levied on profits.

-Increase profits: criminals can increase profits through illegal money reinvested in the business.

-Converted to legal criminals can use laundered money for building a business and provide legitimacy.

What are the three stages of money laundering?

Employment:

At this stage, get all the illegal funds or assets to the financial system. This recruitment makes this more liquid funds. For example, if you transfer money to bank deposits, it becomes easier to convert and manipulate them. When laundering illegal funds are developed using a number of methods, including cash deposit in bank accounts and cash in the purchase of assets.

Layers:

To conceal the illegal origin of the funds, and thus make it more useful, you must move these funds and dispersed and her indefiniteness. Deportation funds from illegal assets known as “classes”. At this point, the ghasloa money by using many different methods to put layers on the money. These methods include using multiple bank accounts and make professionals working as brokers and money transfers through companies and investment funds. Money may be moving back and forth through a network of multiple accounts and companies to hide assets.

Merge:

Once the layers are put on the money and hide it from their assets, making those funds unavailable for criminals to use and control them like money. This final stage of money laundering, known as “merge”. Alghasolh funds become available for use for activities such as investments in businesses, legal or illegal, or spending life & style.At this point, the illegal money has acquired legal appearance. And it must be noted that not all money laundering with those three stages. Processes can be effective ina phase or two phases, depending on the method used.

TS

Money laundering is a criminal activity in which filtering funds gained by illegal ways, or “dirty” money through a series of transactions, where funds are portrayed as clean and looks like royalties from legal activities. Each year, the production of large amounts of illegal funds, such as drugs and avoiding taxes and human smuggling and theft and arms smuggling and corrupt practices. These funds are often critically. Money laundering is a method for fabricating wealth and apply broadly and particularly between drug traffickers and fraudsters and smugglers and arms dealers and terrorists and extortionists and tax evaders.

Money laundering: a brief definition of the process and their crimes