What is "money laundering"?

Question

what is it, and how (what are the grounds in which..) can you be charged with it?

Answer 1

It makes money earned illegally appear to have been earned through a legitimate business.
Usually it a charge brought after someone making money with an illegal activity (like drug dealing) is found to have ties to a legitimate business (like a restaurant). The FBI or other investigating agency goes over the books of the legal business and looks at every cash deposit. They have agents who are forensic accountants and they investigate every penny that goes in or out of the business.

Answer 2

Money Laundering is the act of taking money from a crime, and siphoning it into the books to make it look legitimate. For example, money from a bank robbery could be laundered through a business front. That way, the robber can spend the money they stole without worrying about getting caught, and the stolen money is distributed to the business's customers as change.

Answer 3

Its when you have dirty (stolen) money and the FBI or what ever has the serial numbers of the money so if you spend any money they know where it is spent and can track you down. so the solution is to launder the money. one way to do this is to go to a gas station buy 5 bucks of gas give the cashier a dirty 20 dollar bill and the change you git back is clean money then go to another gas station and another and keep doing the same thing. there is easy ways to launder money but i don't know them. look up money laundering on google.

Answer 4

money laundering is basically taking money that is gotten from a crime - dirty money - and exchanging it for money that has not been used for a crime - clean money. I think that is the easiest way to explain it. You can be charged with it if someone comes to you with some money they earned in an illegal manner and you exchange it for money that has not and know that you are doing that.

Answer 5

Money Laundering is a bad deal, you do not want to get involed with this kinda of stuff, and if you already are get out now. It is stealing money that does not belong to you, normally from a company. If you ask me yes they can trace it back to you. You can do jail time as well. It a white collar crime. BIG TYME JAIL TIME.

Answer 6

Money laundering is when money that is stolen, drug money, or something similar is worked through a business in order to exchange and/or hide it. Example: stolen money is taken to a casino and exhanged for markers or chips and then cashed back in for 'clean, untraced' money.......in other words, you have laundered or cleaned the money.

Answer 7

Its when you leave change in your pockets LOL.Had to say that!
It is when someone say is running drugs and asks you to open an account in your name or a fictitious name(maybe a fake busissines) and deposits the drug money in it.You get to have a percentage of it and they get to keep their drug money.If the money is traced and your nameis involved, you go to PRISON!Do not pass go do not collect 200 dollars.
You can molest kids all day long and they will smack you on the wrist and hug and kiss you and turn you loose on the streets and tell you to be a good boy, BUT cheat on taxes or make illegal money, you will do HARD time and MORE of it!

Answer 8

taking money from an illegal source (drugs) and putting it through some business that has tons of money going through it - like a casino. so that you can get the amount of "dirty " money back- and it is not identifiable as coming originally from a dirty source
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OR
you buy something like diamonds or gold coins with dirty money, then sell the diamonds. the point is not to make a profit, but to get the money "cleaner"


i have no idea about the second question.

Answer 9

making it appear as if the money you earned illegally was earned in a legal manner.

Like setting up a fake lawn care business and reporting your drug dealing income from that. Even though you don't mow lawns, it allows for you to pay taxes and keep the feds off your back.

Answer 10

Time