2007-01-01 13:47:13 · 8 answers · asked by sylvia1520 2 in Business & Finance ➔ Investing
Money Laundering: concealing or disguising how illegally obtained funds (such as from drug trafficking, gun smuggling, corruption, etc.) is generated to avoid a transaction-reporting requirement under state or federal law.
2007-01-01 15:45:10 · answer #1 · answered by Brownskin 3 · 0⤊ 0⤋
Hi,
Money laundering is transferring of funds ,where the source is not know.
Regards
Sayed R. Tabrez
2007-01-08 13:19:33 · answer #2 · answered by Sayed Tabrez 1 · 0⤊ 0⤋
Money laundering is the masking of the monetary gains through illegal activites.
2007-01-05 09:09:36 · answer #3 · answered by Dang 3 · 0⤊ 0⤋
Money laundering is a term used to describe the process of making the proceeds of illegal activity (e.g. drug sales) appear to have a legitimate source.
2007-01-01 21:57:26 · answer #4 · answered by nynameislying123 2 · 0⤊ 0⤋
If you rob a bank you cannot buy a House in Beverly Hills or a Ferrari with the money.
You need to change your black money for white money.
This means you need to hire someone to clean your money.
You give him $1,000,000.00 USD in stolen money and you get $750,000.00 USD in legal money.
Once the money is legal you can do anything.
2007-01-02 16:07:59 · answer #5 · answered by Anonymous · 0⤊ 1⤋
to hide the source of income. for example al capone made millions bootlegging but got arrested for tax evasion for not paying his income tax. so since then criminals need to hide where their money comes from. like opening store fronts to funnel the money thu.
2007-01-01 21:58:14 · answer #6 · answered by robert m 1 · 0⤊ 0⤋
Watch the movie Scarface and you can watch how it's done. Then stick around to the end and watch Tony Montana unleash his little friend! Do it mang!!
2007-01-03 00:12:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋
money laundering; washing dirty (illegal) money, so that it comes out as clean (ligit) money
2007-01-01 22:00:49 · answer #8 · answered by Dreamweaver 5 · 0⤊ 0⤋