Money Laundering: It Is a Big Crime Essays

Money Laundering: It Is a Big Crime Essays

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If we have an inquiry into the streets to ask walkers about laundering, the general reaction of most people that they had no idea. The typical reaction is one of the problems that the government in the fight against this form of crime. It seems like a victimless crime. It has nothing of the drama through theft or the fear of violent crime effects on the psyche of people, and yet, money laundering can only occur one underlying offense for example, theft or burglary or drug trafficking has occurred. It is the lack of information on money laundering that is available to the person in the street, making it an invisible problem and therefore difficult to address. (Steel 2).
The criminal can use the dirty money after making some strategic stages, these stages: 1) Placement, where the launderer inserts the dirty money into a legitimate financial establishment. It is often in the form of cash bank deposits. This is the riskiest stage of the laundering process because large amounts of money are very visible, and banks are required to report high-value transactions. 2) Overlay, the complex pr...

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