How do drug dealers launder money

How do drug dealers launder money

Posted: Vladmc Date: 03.07.2017

Of course, these money-laundering tips are illegal and we are by no means trying to help you set up a money laundering business.

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This article on money laundering is for entertainment purposes only. A few of the methods, which we outline below include structured deposits, using banks and shell companies. To work around this pesky law that attempts to deter money laundering, launderers will hire low-level lackeys to make multiple small deposits, either on different days or at various branches on the same day.

Banks Far more exciting and global in the practice of money laundering is the use of offshore and overseas banks. Nations like the Cayman Islands, Bahamas and Panama are very accommodating to criminals looking to legitimize their cash; these nations are unrestricted with regards to burdensome banking laws and anti-laundering procedures, which ultimately helps hide the launderers behind strict veils of secrecy.

Opening accounts in a number of these offshore accounts allows launderers to move their money around and create a nearly impenetrable defense against curious investigators. Some countries China and Pakistan among others have a history of well-established underground banks that have been accepting deposits from sketchy clients for centuries.

They legally operate outside of the mainstream banking system and outside the control of the government. There is often no paper work, just the reputation of the principals involved. Of course, knowing that you will likely be tortured and killed if you misplace the money is a good source of collateral.

Shell companies Enterprising criminals looking to legalize their cash can set up various companies that exist for the sole purpose of money laundering. These so-called shell companies often offer some sort of service that can easily be fudged and usually accepts cash as payment when doing legitimate business beauty salons and trades like plumbing are commonly used. Messages You have no messages.

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how do drug dealers launder money
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