money laundering

Money laundering, as the name suggests, is the act of making unreported or money or income appear as if the money has been earned through legal acquisition. It could take just one transaction or several processes, depending on the amount and the origin of the money, for the money to be complete laundered. In its simplest forms, people with huge sums of money earned by illegal means can walk up to a bank and deposit their money. However, this method easily raises suspicion in most countries. The United States have implemented laws that made it more difficult to utilize banks for money laundering. Under the Bank Secrecy Act of 1970, banks are required to report any transaction that exceeds $10,000 to the government. In addition, Fishman (2006) also suggested that government have shown its resolve in combating money laundering by passing laws to further bolster what’s already in place as well as serve as a deterrent to serve the interests of not only organized crimes, but terrorist groups as well (p. 62). In theory, a person can make numerous bank deposits under $10,000 over a period of time, or a group of people can make different deposits to the same bank or different banks, also under $10,000 to avoid raising any suspicion. There are nations throughout the world, particularly those with unstable government or economy, wherein they will take any amount of deposit, no questions asked. However, they also run the risk of their money being seized by the government and its corrupt officials.
The common belief is that money that needs to be laundered are those which were profited from illegal activities. It is also likely for people to launder legally earned money. Although the money itself is not considered illegal, t...

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...ies, which takes precedence over turning over a profit. Irwin, Choo, and Liu (2012) also agreed that their purpose is to inflict fear and be disruptive, to the point that it changes people’s point of view or ways of life (p. 88). I believe this is how the Taliban was able to sustain itself for so long. However, they still need money to support their operations. Sympathizers to their cause, who also own businesses, were able to discreetly funnel money into the organization. These terrorists do not just show up then wreak havoc and then leave. It takes careful and coordinated planning to execute their missions. These terrorists cells find their way to their target nation wherein they soak in the culture and looking for weaknesses. Their steady flow of resources were used to fund their training and procurement of supplies until called upon to finish their job.